Capital One Arena, the home arena of the National Hockey League’s Washington Capitals and National Basketball Association’s Washington Wizards, expects to generate a million additional visitors per year at the multi-purpose arena following the onset of in-venue sports betting.
Ted Leonsis, the billionaire owner of Monumental Sports and Entertainment which owns and operates the venue as well as its teams, has been at the forefront of the new sports betting landscape in the United States.
Following legislation passed in Washington DC, Leonsis is planning to establish a sportsbook in the venue to make it an all-day, year-round attraction.
According to Jim Van Stone, Monumental Sports’ president of business operations and chief commercial officer, this initiative is expected to lead to a significant spike in visitation to the nearly 22-year-old facility.
“We’re building around 230 events a year and about three million people through the turnstiles, we think [in-venue betting is] going to increase our visits by almost a million on an annual basis,” Van Stone said September 10 at the VenuesNow Conference in New York.
To facilitate this, Monumental Sports plans to show live sports in the arena’s sportsbook throughout the day, including Premier League games on weekend mornings and UFC fights in the evenings.