PointsBet said it is “disappointed” at the decision of the Arizona Department of Gaming (ADG) to deny Cliff Castle Casino Hotel, a Subordinate Economic Organisation of the Yavapai-Apache Nation, a sports betting licence.
Consisting of five tribal communities, the Yavapai-Apache Nation is located in Arizona’s Verde Valley.
“Whilst disappointed that Cliff Castle was not awarded a licence, PointsBet continues to assess market access opportunities in Arizona,” a statement from the company read. “The ADG has not provided any further information as to why Cliff Castle was not selected.”
The PointsBet Holdings Ltd share price has fallen this morning as a result, currently sitting at AU$10.13 (US$7.40), 2.22% lower than its previous close. The group’s share price has dropped 11% since the start of 2021, and is currently 12% lower than it was this time last year.
Online sports betting was legalised by Arizona Gov. Doug Ducey in April 2021, allowing for up to 20 sports betting licences; ten for tribes and ten for professional sports teams, as noted by PointsBet.
The ADG last week released its list of approved event wagering operators ahead of the state’s sports betting launch on 9 September. Tribal licensees include Fort Mojave Indian Tribe (SuperBook Sports), Quechan Tribe (Unibet Arizona), and Tonto Apache Tribe (Churchill Downs), while sports teams licensees include Arizona Cardinals (BetMGM), Arizona Diamondbacks (William Hill), and Phoenix Suns (FanDuel).