Circa Sports to Run Silverton Casino Sportsbook

Posted on: November 2, 2023, 11:32h. 

Last updated on: November 3, 2023, 10:37h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Circa Sports is expanding its Las Vegas footprint, assuming operation of the race and sportsbook at the Silverton Casino Lodge in suburban Las Vegas on Jan. 1, 2024.

The race and sportsbook at Silverton, considered a Las Vegas locals casino, is currently operated by Caesars Entertainment’s William Hill. Circa co-founder and CEO Derek Stevens discussed the project at a meeting with the Nevada Gaming Control Board (NGCB) earlier this week.

It’s a project we’ve worked on with the Silverton for quite a while,” Stevens told regulators. “This will be another satellite sportsbook within the state. The sportsbook would include a substantial renovation of the property and be an investment on our part. We plan on hiring all of the individuals and they’ll be Circa Sports employees.”

Circa plans to open a temporary sportsbook at Silverton on January 1, just in time for that day’s notoriously large slate of college football bowl games and before the Super Bowl. The remodeled permanent sportsbook is expected to be open before the NCAA Men’s Basketball Tournament. Also known as “March Madness,” it’s annually one of the most wagered-on sporting events in the US.

Circa Continues Nevada Expansion

In Nevada, Circa sportsbooks are located at its namesake venue and at the D and Golden Gate casinos, all in downtown Las Vegas, as well as at the Tuscany Suites & Casino and the Pass Casino in Henderson. The operator entered Northern Nevada last year by partnering with the Legends Bay Casino in Sparks.

The Silverton, which Ed Roski Jr. owns, joins that list. Circa is popular with bettors even though the operator doesn’t have as many retail sportsbooks in its home state as Caesars/William Hill or MGM Resorts International.

In addition to its reputation as a sportsbook that embraces sharp bettors, Circa has other advantages in adding market share in Nevada. For example, its annual NFL contests, Circa Million and Circa Survivor attract thousands of participants. To sign up, participants must visit a land-based Circa sportsbook.

As of late July, Circa ranked as the third-largest Nevada sportsbook by market share, trailing only Caesars/William Hill and MGM.

Silverton Practical Expansion Move by Circa Sports

Circa’s move to take over sportsbook operations at Silverton jibes with the sportsbook’s conservative approach to expansion. Unlike some rivals that have rushed to enter nearly every state that allows sports betting, Circa has taken a more restrained approach, focusing on Nevada and states with favorable regulatory and tax environments.

Looking ahead, there are numerous casinos in Nevada, including in Las Vegas and Reno/Lake Tahoe, that have sportsbook operations that could conceivably be farmed out to Circa.

Beyond its home state, Circa Sports offers mobile sports wagering in Colorado, Illinois, Iowa, and Kentucky.