The most popular sportsbook operator in the United States is one step closer to having a retail location at Boyd Gaming’s Fremont Hotel and Casino in Las Vegas. On Wednesday, Flutter Entertainment was recommended by the Nevada Gaming Control Board for license approval.
What are the Details Regarding the Retail Location?
As far as the details go, Boyd will be in charge of operating the retail location. Still, FanDuel will be offering betting lines, making recommendations for betting line movements, and other types of guidance. A final decision by the Nevada Gaming Commission on August 25.
FanDuel will be the first company that offers daily fantasy to seek a license in the Silver State. Both FanDuel and DraftKings were prohibited from offering their daily fantasy platform to those that reside in the state.
Both FanDuel and DraftKings argued that their platform is solely skill-based and not a game of chance, unlike the games offered at casinos. In spite of this, the Control Board stated that the two platforms could not operate in the state unless they were licensed as gaming companies. Neither of the companies went forward with the licensing.
Seven years later, FanDuel will finally have its chance as a branded retail sportsbook. The rebranded retail location will have 76 seats and will feature a number of HD video walls.
Four betting windows and seven kiosks will be provided by Boyd. The technology for the operation will be provided by International Game Technology, which is a partner of both FanDuel and Boyd.
The location is currently undergoing some renovations and could reopen its doors to the public before the year ends. This will be pending licensing approval by the Nevada Gaming Control Board.
What Types of Partnerships Does Boyd Have?
FanDuel currently operates in-person sportsbooks through Boyd, as its products are offered in jurisdictions like Illinois, Indiana, Iowa, Louisiana, Mississippi, and Pennsylvania. All of the Flutter board directors and executives, as well as FanDuel CEO Amy Howe, had clean background checks, according to regulators.
Boyd also operates sports gambling in 15 states in the industry. It also owns five percent of FanDuel and operates sports betting at its ten Las Vegas-area casinos through Boyd Sports, which covers both the mobile and retail side of things.
Both FanDuel will share the revenue generated from that location at Fremont. The exact amount is undisclosed to the public. FanDuel CEO Amy Howe also stated that the company has more than 2,500 employees all across the United States.
FanDuel isn’t concerned about the confusion that could take place. On top of that, Nevada isn’t concerned about bringing an app to the state as mobile sports betting isn’t as prevalent in the Silver State as compared to other major markets in the industry.
Taking a Deeper Look at Boyd’s Financial Statements
Boyd’s gaming revenue was slightly higher in the second quarter of this year as revenue numbers were slated at $894.5 million compared to $893.6 million. This is considered good news as gaming operations noted a significant decline of $40 million from $727.5 million to $684.9 million this quarter.
However, the company looks to expand its retail and digital reach further. Pala Interactive, a California-based online gaming company, is expected to be acquired as part of the company’s strategy for $170 million, and the closure will be pending regulatory approval and is expected to be completed by year’s end.
This deal strengthens Boyd’s presence in the sports betting industry after acquiring Pala Interactive. The operator plans to launch retail and mobile sports gaming in Kansas and Ohio after the jurisdictions joined the sports betting industry.
Both markets will launch soon. While Kansas’ launch date is unknown, Ohio will launch on January 1, 2023.