Tennessee Action 24/7 LLC, Tennessee’s only locally owned and operated licensed sportsbook, has announced that it will cease operations. “Despite our very best efforts and dedication, the current landscape for state-licensed online sports gambling in the United States has proven to be unviable and unprofitable for all operators in the industry,” says Tina Hodges, its Founder and President.
Over 90 percent of the funds invested in the company over the past five years have been from Tennesseans. In a letter to investors, Hodges stated that the company will focus on an immediate and orderly wind-down. Bets already placed will be honored.
Major national sports betting sites like MGM, Draft Kings and others have spent significant marketing dollars in Tennessee in recent years. As a Tennessee site, Action 24/7 was limited to accepting bets from in-state residents only. The national sites have the advantage of a much broader base of gamblers to depend upon.
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Steve Gill is editor and publisher of TriStar Daily.
