Shares of Caesars Entertainment (CZR) closed more than 4% higher on Monday after opening pre-registration and funding for its Caesars Sportsbook ahead of the December 1 launch of sports betting in Missouri.
Last November, Missouri voters narrowly approved Amendment 2, a ballot initiative to legalize online and retail sports betting. Once betting goes live on December 1, sportsbooks are required to partner with a pro sports team or an existing casino in the state unless they receive an untethered license.
Caesars Sportsbook will operate through its existing Missouri casinos, while competitors like BetMGM (MGM) is partnering with Century Casinos (CNTY), while FanDuel (FLUT) is partnering with St. Louis City Soccer Club. DraftKings (DKNG) obtained an untethered license.
Through the Caesars Sportsbook platform, sports fans can enjoy live streaming of major sporting events, place parlay bets, and participate in live in-play betting markets in Missouri beginning Dec 1.
Beginning November 24, Caesars Sportsbook will debut NFL flips game in Missouri, offering an interactive “flip and win” experience with prizes awarded on Dec 1. Bettors who deposit $5 or more by Dec 1 will receive added benefits when sports betting goes live in Missouri, while new users will earn five profit boost tokens offering a 100% boost on winnings for five bets.