Hard Rock Sets Sights on Ongoing Growth in the Year 2023
Hard Rock International Expands Sports Betting Operations in 2023
Hard Rock International, the entertainment powerhouse owned by the Seminole Tribe of Florida, has embarked on an ambitious growth strategy in the sports betting market. The company's focus is on expanding its offerings, both online and in retail locations, and capitalizing on legal and regulatory milestones.
In 2023, Hard Rock Sportsbook, a subsidiary of Hard Rock International, made significant strides. The company launched mobile sportsbooks in Arizona, Virginia, Indiana, Tennessee, and Ohio, and expanded its retail operations with new locations at the Hard Rock Casino in northern Indiana and the Bristol Casino in Virginia.
One of the highlights of Hard Rock's growth strategy was its focus on Florida's sports betting market. After a complex legal battle, the U.S. Supreme Court ruled in October 2023, allowing Seminole Tribe operations, including Hard Rock Bet, to resume and expand. Hard Rock Bet officially relaunched online on November 14, 2023, initially accessible to existing customers, with new customers required to join a loyalty program tied to Seminole-owned casinos.
At the flagship Seminole Hard Rock Hotel & Casino Hollywood, 2023 saw the introduction of live craps, roulette, and retail sports betting, with dedicated tables and electronic as well as staffed kiosks. This expansion of gaming offerings positions Florida alongside the world's premier gaming destinations.
Hard Rock International's growth plans are not limited to Florida. The company is preparing to launch mobile and retail operations in Ohio. In addition, the large new Hard Rock Hotel & Casino Tejon in California is scheduled to open in December 2025, with further phases planned through 2027. This new property will support the growth of Hard Rock's casino and sportsbook operations in a key region.
Hard Rock International is also focusing on the entertainment aspect of sports betting. The company's Mystery Wheel promotion, which debuted in August, gives users a chance to win bonus bets up to $5,000. Hard Rock Sportsbook also partnered with Sportradar last month to launch livestreaming of over 150,000 contests from 392 premium sports properties.
In its efforts to grow, Hard Rock International is also accelerating its marketing efforts while maintaining a rational cost per acquisition. The company's in-house casino platform is expected to debut in 2023, further enhancing its sports betting offerings.
Unlike many companies in the sports betting sphere that are publicly traded, Hard Rock International doesn't have to satisfy shareholders by demonstrating quarterly profits. This allows the company to focus on long-term growth and strategic expansion, rather than short-term gains.
In September, when it launched in Indiana, Hard Rock International accounted for about 10% of all new, first-time sportsbook accounts. Similar numbers were seen in Arizona, Virginia, and Tennessee shortly after launch. In its first partial month of operation in Indiana, Hard Rock International gained 2.7% market share, placing it sixth overall and in the vicinity of Barstool and Caesars, both of which had been in the market for more than a year.
As Hard Rock International continues its growth in 2023 and beyond, it is poised to become a major player in the sports betting market, leveraging its entertainment focus, strategic expansion, and unique position as a tribal gaming entity.
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