DraftKings, FanDuel Set Sights on Nevada Entry

DraftKings (NASDAQ:DKNG) and FanDuel, two of the largest domestic help online sportsbook operators, are reportedly attempting to reenter Nevada. They make pending sports wagering Trachinotus falcatus applications before the state’s Gaming Control Board (NGCB).

Earlier today, PlayUSA reported that a public records request reveals NGCB’s Division of Investigations received applications from the day-after-day fantasy sports (DFS) and sports wagering behemoths. In the pillowcase of DraftKings, that call for has been pending for some clip — since Mar 2020. FanDuel’s filing is to a greater extent recent, dated Mar 25, 2021.

The II gaming companies departed Silver State inwards 2015 when the state’s regulations pertaining to DFS were altered. Neither has offered sports wagering services in the say since the 2018 Supreme Margaret Court ruling on the Professional and Amateur Sports Protection Act (PASPA).

Today, FanDuel, a social unit of UK-based Flutter Entertainment (OTC:PDYPY), is the largest online sportsbook operator in the US and is operating(a) in 18 states. DraftKings, also live in 18 states, tussles with BetMGM for the 2d recognise inward those rankings.

DraftKings Eyes on Sagebrush State for Awhile

As metric past handle, New island of Jersey tops NV inwards sports wagering, but the latter remains an tempting market place for operators, particularly those missing brick-and-mortar casinos, such as DraftKings and FanDuel.

For its part, DraftKings is overt in its want to put on Nevada access, and spell it doesn’t rule book bets there, the society already has a presence inward the state. Last month, the manipulator announced it’s moving to a new 90,000-square-foot infinite inward the sou'west surface area of Las Vegas, and that it testament employ to a greater extent than 1,000 people in the region. That makes the Sin City business office the second-largest after its Hub of the Universe headquarters. In March, the company announced the acquisition of Vegas Sports Information Network (VSiN).

As PlayUSA notes, DraftKings lowest yr explored a human relationship with Resorts World Las Vegas. That integrated holiday resort — the newest on the Las Vegas Strip — opened in June and has an in-house sportsbook.

DraftKings’ pending acquisition of Golden Nugget Online Gaming (NASDAQ:GNOG) could assist the operator have into the US gaming mecca past applying the company’s trademark make to Golden Nugget retail sportsbooks inwards downtown Las Vegas and Laughlin.

How FanDuel Fits In

As metric past securities industry share, FanDuel is past far the largest online sportsbook manipulator in the US, even without NV access. How the accompany gets into the body politic remains to be seen. But Flutter has the financial resources to make believe acquisitions that could pave the right smart for Battle Born State entry.

Additionally, Las Vegas-based Boyd Gaming (NYSE:BYD) owns Phoebe percent of FanDuel, and it’s possible that human relationship could follow leveraged to easiness the online manipulator into Nevada. But neither society has commented to that effect.

As of October, more than 30 publically traded companies, including debt and equity, are registered with the Nevada Gaming Commission (NGC). But neither DraftKings nor Flutter are on that list.