FanDuel CFO Reticent About Operator’s Nevada Efforts
In remarks remade at his licensing sense of hearing before the Battle Born State Gaming Control Board (NGCB) on Wednesday, FanDuel CFO David Jennings didn’t reveal much around his employer’s possible plans inward the state.
Jennings, who has been with the online sportsbook manipulator since 2022, was sanctioned for licensing past the NGCB. At the hearing, he was queried past Commissioner George VI Assad on the possibleness the fellowship will presently participate Nevada. The reply wasn’t encouraging.
Nothing that we’ve proclaimed at this time,” Jennings said.
Jennings is based come out of New York, which is home to FanDuel’s US headquarters. His commendation for licensing inwards Sagebrush State at present moves on to the Sagebrush State Gaming Commission (NGC). FanDuel is 95% owned past Ireland-based Flutter Entertainment (NYSE: FLUT) with the remaining 5% held past Las Vegas-based Boyd Gaming (NYSE: BYD).
For DraftKings, FanDuel, Sagebrush State Road Continues Winding
Currently, Flutter/FanDuel has scant Battle Born State exposure. The manipulator provides betting odds and FanDuel branding for the Boyd-operated downtown John C. Fremont Hotel Casino sportsbook but it doesn’t make bets anywhere inwards the state.
For FanDuel and archrival DraftKings (NASDAQ: DKNG), Silver State footprints are believed to live highly coveted though long unattainable. Both companies gained prominence through the domain of day-to-day fantasise sports (DFS), an activity proscribed inward the Silver State. The pair off are also among the II largest operators of regulated internet casinos. Regulated or illicit, iGaming is another no-no inwards Nevada.
Nevada regulations condition that sportsbook operators make direct ties to a land-based cassino operating inwards the state. Via its 2021 acquisition of Golden Nugget Online Gaming (GNOG), DraftKings might receive that requirement via the Golden Nugget inward downtown Las Vegas. That casino is owned past Tilman Fertitta, not DraftKings.
As for FanDuel entering Nevada, some analysts suppose that it’s possible, and a potentially easier lift, if Boyd were to decide to allow FanDuel bleed and rebrand the Boyd Sports mobile application.
FanDuel Has No Established Nevada Footprint
In the US, FanDuel has offices inward half-dozen cities, according to its website, but none are in Nevada, and it’s non clear up when that status testament change.
Conversely, competitor DraftKings latterly opened a plush unexampled office inward southwestern United States Las Vegas directly crossways the street from the Victoria de Durango casino. Currently, at that place are Little Phoebe undetermined roles inward that office.
Last month, DraftKings was named i of the to the highest degree entrepreneurial companies inwards Las Vegas by BuiltIn. Owing to gaming beingness the largest buck private sphere employer inward Nevada, 11 companies from that industry, including DraftKings, made the list. DraftKings is the only if I of those 11 that doesn’t telephone Sin City its house servant home.
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