When Joe Asher launched Boomer’s Sportsbook last year, his initial goal was to be operating in 10 locations in Nevada, but the veteran bookmaker was confident they were going to be close to doubling that number by the end of their first year in business.
By September 8, Boomer’s will have 18 locations with the openings of Boomer’s locations at Binion’s and the Four Queens in downtown Las Vegas. On Thursday, the Nevada Gaming Commission unanimously approved the company’s licenses to operate at both casinos.
“Another three applications are with the Control Board,” Asher said during the licensing hearing. “Hopefully, we’ll be at 20 locations within the next few months. We are going to be very close to doubling that.”
Commissioner Brian Krolicki congratulated Asher on his initial success with Boomer’s, but noted that the company “was growing quickly and there were always questions about capital.”
Asher, 59, understood Krolicki’s concerns but assured the commissioner that they “run a tight ship.”
“A number of executives have warrants, trading off salary for equity. That’s been important,” Asher said. “The business was set up to grow and build a sports betting business of scale in Nevada.”
Asher said that goal hasn’t changed, and they’ve done reasonably well with their results. He did not publicly discuss Boomer’s financial results with the commission on Thursday.
“We are better off than we originally forecasted in that regard, he added.
Boomer’s has grown to 68 employees and by September 8 that number will grow to 71.
In terms of replacing William Hill at Binion’s and the Four Queens, Asher explained that moving downtown was important to the company, describing it as a “big opportunity” for Boomer’s as they continue to build out the business.
William Hill operates about 100 retail sportsbooks statewide, making it the dominant retail presence in Nevada. Asher noted that in some of the communities William Hill is the only operator.
“We would like to get into some of those communities as well,” Asher told the commission.
Asher was CEO of William Hill from 2012 to 2021 when the company was acquired by Caesars Entertainment for $4 billion. Previously, he founded Brandywine Bookmaking in Las Vegas in 2012 that operated under the Lucky’s Race & Sports brand before it was bought by William Hill in 2012.
Krolicki followed up by asking if Boomer’s was sufficiently capitalized for future growth. Asher responded yes.
When asked by Commissioner George Markantonis about the ideal number of locations for Boomer’s, Asher said there was “no clear number,” but the company was going to be in excess of 24 to 30 by the end of 2027.
But the company’s presence does not include any locations on the Las Vegas Strip, which is dominated by BetMGM and Caesars Sportsbook. Asher admitted he would like to go to larger properties, which is “very much in sight.”
“I would really like to build out a statewide presence,” he added.
