FanDuel Group once again marks another milestone in sports betting on Thursday by merging with Boyd Gaming for mobile and online wagering.
Proclaimed as the new US arm of Paddy Power Betfair, they continue powering mobile and online sports betting at Boyd properties throughout the country. A meaningful milestone to say the least, which will see FanDuel sports betting operation stretch in less than two months beyond New Jersey reaching national stature.
Check The Methods Of The Deal
Sources inside report that both Boyd and FanDuel Sportsbook brands will be in operation. David Strow, Boyd spokesman, pointed that the companies will accordingly allocate brands across certain states based on laws and regulations progressively.
The agreement includes properties covered in Boyd’s deal earlier this week with MGM Resorts International:
This agreement will cover all states where Boyd Gaming holds gaming licenses currently and in the future, excluding Nevada. It also covers states included under Boyd Gaming’s market-access agreement with MGM Resorts International. Upon completion of Boyd Gaming’s pending acquisitions of the four Pinnacle properties and Valley Forge, Boyd Gaming will have access in 15 states nationwide.
It is known that MGM and Boyd possess casinos across 15 states. As Strow aforementioned that both brands could operate in some states, in principle, Boyd could operate a FanDuel Sportsbook-branded mobile operation under MGM’s license in a state such as New Jersey.
Subsequently, FanDuel acquires a mammoth reach through the deal via Boyd and MGM Properties.
|State||MGM and/or Boyd?||Legal status of sports betting||Legal status of online casino and poker|
|Nevada||Both||Legal with mobile||Online poker only|
|Maryland||MGM||Expect bill in 2019||None|
|Massachusetts||MGM opens Aug. 24||Expect bill in 2019||None|
|Michigan||MGM||Bill introduced this year||Bill introduced in 2018|
|Mississippi||Both||Legal and about to launch land-based wagering||None|
|New York||MGM (pending)||Land-based commercial casino betting is legal, not launched||Online poker bill introduced in 2018|
|Illinois||Boyd buying the property from MGM||Bill introduced in 2018||None|
|Indiana||Boyd||Bill introduced in 2018||None|
|Iowa||Boyd||Bill introduced in 2018||None|
|Kansas||Boyd||Bill introduced in 2018||None|
|Louisiana||Boyd||Bill introduced in 2018||Bill introduced in 2018|
|Pennsylvania||Boyd (pending)||Legal pending finalized regulations||Will launch early 2019|
|Ohio||Boyd (pending)||Bill introduced in 2018||None|
|New Jersey||MGM||Legal and launched with mobile pending||Both online poker and online casino legal|
Boyd Awarded A Slice On Ownership Position Too
The deal’s financial terms are yet to be seen. However, Paddy Power Betfair announced that 4 percent equity stake in FanDuel Group is due to Boyd, with an option on the pipeline to purchase another 1%.
It came necessary earlier this year for Paddy Power to acquire FanDuel, enabling their European operator to also gain recognition as they occupy US sports betting. Paddy Power Betfair still had access to three states for sports betting, while the deal with FanDuel got finalized in early July. Less than a month later, a nationwide partnership got sealed – the progression follows FanDuel’s initial imminence in daily fantasy sports.
Before We Know, Major Partnerships Emerge
In less than a week, it was reported amidst the jubilee after Boyd’s deal with FanDuel Group, that MGM followed suit by partnering with Europe’s stalwart GVC in sports betting.
The deal will fill the same purpose as of Boyd and FanDuel Group, whereby that technology for the operation will be provided by GVC. Meanwhile, MGM meaningfully alternates its mechanics by operating under its own playMGM brand.
Words On The Agreement Are
Keith Smith, Boyd President and CEO, mentioned publicly that his company hopes to gain from FanDuel’s established customer base.
“By joining forces with FanDuel’s nationally-known brand, as well as their considerable technical expertise and resources, we will be positioned to build market-leading sports-betting and online gaming operations in each state as they move forward with these new forms of entertainment. We will also see immediate benefits from our cross-marketing agreement with FanDuel, introducing millions of FanDuel customers to Boyd Gaming’s properties nationwide.”
FanDuel’s continuous growth now takes on both a major partner and bigger prospects.
“There is incredible momentum in the sports betting space and we look forward to partnering with Boyd Gaming to bring the FanDuel Sportsbook to more customers across the United States,” FanDuel CEO Matt King said in a statement.