Super Group, the publicly traded parent company of Betway, will pay $20 million for a mobile-only sports betting license in Illinois.
Betway was the only remaining bidder of an initial two, though the second bidder withdrew its application in July.
Betway withdrew application in first bid
This is not the Betway brand’s first bid for a mobile Illinois sportsbook license.
Betway is the brand that withdrew its application as part of the first process. Of course, that round’s only winning bidder, Tekkorp, did not move forward with its license application after a sports betting acquisition failed to close for the SPAC.
Questions to Super Group about why this time around was the right one did not receive a response. The company is likely in a quiet period leading up to its Aug. 17 earnings release where it could shed light on the Illinois license.
Other applicant was slot route op
The applicant that wound up withdrawing its application in this second round was J&J Ventures, a slot route operator in Illinois that provides VLTs throughout the state.
The company predicted Bet J&J gaming receipts of $6.7 million to $15.6 million in its first year of sports betting operations. That would have eventually ramped up to between $22.4 million and $60.3 million by year five.
Kambi would have provided the sportsbook platform, according to the bid document.
This would not have been the first time J&J dipped its toe into sports betting. The parent company holds a Type C Ohio sports betting license, which lets it offer sports betting kiosks operated by one of a handful of vendors.
What about last two IL licenses?
It is unclear if the remaining two $20 million mobile-only sports betting licenses will be put up for a third bid.
Marcus Fruchter, administrator for the Illinois Gaming Board, told the board it would be at the administrator’s discretion whether to allow another bidding period or not.