Sports Betting Legalization Closer in Texas Than California, BetMGM CEO Suggests

Sports betting legalization could be more detailed in Texas than it remains in California, at least in the eyes of BetMGM and its president.


Texas and California remain the 2 terrific untapped markets for legal online sports betting websites in the United States, and it looks like neither state is poised for any major modifications to gambling policy in 2024.


However, for one major sportsbook and online casino operator, BetMGM, the chances of legalization look much better for Texas than they do for California.


"California is not in our near-term design, Texas is," BetMGM CEO Adam Greenblatt stated Wednesday at the NEXT Summit New York 2024 in Manhattan.


I have made it to NEXT Summit New York 2024 in Manhattan. First panel of the day is about forecasts for 2025. Betr CEO Joey Levy (whose business just announced a $15M fundraise at a $375M assessment) states the distribution model for operators will have to alter. pic.twitter.com/RUGIbBTRYy


BetMGM belonged to the coalition of operators that tried and failed to legalize online sports wagering in California in 2022, so those scars and lessons are still relatively fresh.


In Texas, however, the legalization lobby might have gained another ally with the recent multibillion-dollar purchase of a managing stake in the NBA's Dallas Mavericks by the families behind casino operator Las Vegas Sands Corp.


. The Texas legislature will not have another routine session till 2025, which suggests any sports wagering costs will need to wait until then, barring intervention from the guv. Nevertheless, Greenblatt was asked by CNBC's Contessa Brewer on Wednesday if the Mavericks acquisition would make a difference with legislators.


"The team owners in Texas are really influential, and so the response to that is yes," Greenblatt said.