Caesars Entertainment’s neutral stance in California’s heated battle over the legalization of sports betting could render the casino company the ultimate victor once the ballots are counted.
CEO Tom Reeg told analysts last week Caesars was staying on the sidelines while backers of two referendums battle for voter approval in November.
The debate over Proposition 26, which would authorize retail sportsbooks and is backed by a coalition of tribal casinos, and Proposition 27, a mobile sports betting-only referendum funded by seven sports betting operators, has already turned vitriolic.
Gaming industry adviser Brendan Bussmann said the debate reminds him of California’s failed attempt to legalize online gaming last decade.
