Professional sports executives emerged from the pandemic starving to compensate for a year of lost revenue, and Monumental Sports & Entertainment (MSE) found a solution: sports betting inside stadiums.
In May 2021, MSE — a private company that owns the Washington Capitals and Washington Wizards, among other teams and sports brands — opened an 18,000-square-foot Caesars Sportsbook (CZR) inside Capital One Arena in Washington, D.C. to create additional revenue for the arena.
“We think this is a 365-day destination spot,” MSE President of Business Operations Jim Van Stone said on Yahoo Finance Live.
Capital One Arena typically holds 230 events each year that send roughly 3 million people through the stadium’s turnstiles.
