Circa Sportsbook Expands to Kentucky: Unexpected Move

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00:00Circa Sportsbook is now having a physical location in Kentucky.

00:09What's this all about?

00:10Why is Circa taking their talents, like LeBron, to Kentucky?

00:17I didn't see this coming.

00:19So I think there's a few things here.

00:21One, yeah, talk about a state that surprised us all, unlike Missouri.

00:25They kind of skirted through it in the legislative session a few years ago and got it done and

00:30then launched, and to your point, it's been very successful for the state.

00:34I don't think that's necessarily a big surprise.

00:36They're big in horse racing and they've got plenty of pedigree in that, no pun intended.

00:41But Circa is one of these sportsbooks that I think has a long future ahead of it, unlike

00:49some of these other smaller brands that are kind of popping in and trying to compete.

00:54I think we've talked before about all these brands that are bowing out of the market.

01:00They just can't generate market share.

01:02Their business models aren't making sense.

01:04You talk about different things that could go wrong with sportsbooks.

01:09Circa has their model.

01:11They know what they're doing.

01:14You're going into a market that's ripe for, I think, that exact market because of the

01:18horse racing kind of background.

01:20I think it's those small sportsbooks, not named FanDuel, Bet365, DraftKings, those ones

01:26are going to continue and take up most of the market share.

01:28It's the small sportsbooks that know what they're doing, that know exactly what their

01:32business model is.

01:33They're going to take the market share they can and be successful at and be okay.

01:39Then the market will evolve around that and let them be, I would think.

01:44Anyway, certainly a sportsbook to kind of watch as the industry matures.