Caesars Sportsbook will launch its Kentucky app amid a series of “tech advancements” geared toward improving user experience.
That news came last week during Caesars Entertainment’s 2023 first-quarter earnings call. Kentucky sportsbooks are set to launch by Dec. 28 (and potentially sooner) — so either Q3 or Q4.
In the latter half of the year, Caesars also plans to make three new improvements to its digital gambling product.
First, at the start of the third quarter, Caesars plans to launch a standalone online casino app. Second, it plans to begin testing its in-house player management system, which will ultimately lead to a shared wallet system to be unveiled in 2023. And third, the company plans to migrate all of its Nevada operations to its in-house tech stack, Liberty, by the 2023 NFL season.
Kentucky launch part of big Q3, Q4 plans
So, yeah, add all that to a likely launch of Caesars Sportsbook Kentucky within the next 6-7 months, and you’ve got a busy — but potentially very fruitful — rest of 2023 for Caesars Entertainment.
“As we sit here today, we are positive on a year-to-date basis in digital. I told you last quarter, we anticipate that we will generate positive EBITDA for the year 2023,” Caesars CEO Tom Reeg told investors. “I can tell you today, we’re already there on a year-to-date basis. And the amount of EBITDA that I was expecting when we announced that we’d be positive for the year about 90 days ago versus where we are today, we think we’ll do considerably better than where we thought we were even 90 days ago.”
Translation: The Kentucky launch is projected to be part of a significantly successful latter half of 2023 for Caesars.
“The existing sports betting business continues to get more profitable, volumes continue to increase,” Reeg said. “And you should expect that continues to drive positive EBITDA. That’s the bulk of what’s happening as you see us inflect to positive.”
When might Caesars launch in Kentucky?
Sports betting in Kentucky will launch by Dec. 28 at the latest, but most industry experts believe KY sportsbook apps will launch sooner than that. Check out all the best Kentucky sportsbook promotions expected to be available post-launch by visiting our dedicated page.
Gov. Andy Beshear has publicly stated his desire to have things up and running by the NFL season (early September).
And the Kentucky Horse Racing Commission is already working on sports betting regulations, even though the bill legalizing sports betting doesn’t take effect until June 28.