Boyd Gaming and FanDuel Partner for Online Sports Betting
Boyd Gaming and FanDuel Group will partner in the U.S. for mobile and online sports betting under a new agreement.
Boyd will take 4 percent equity in FanDuel Group, which is now a subsidiary of Paddy Power Betfair. Boyd will leverage FanDuel’s technology and related services to operate Boyd Gaming-branded mobile and online sports-betting and gaming services.
In return, FanDuel “will gain market access for its sports book and online gaming products in several states.” It will also provide Boyd with “technology and related services to operate Boyd Gaming-branded mobile and online sports betting and gaming services, in those states,” the companies said in a press release.
“Through this partnership, Boyd Gaming and FanDuel Group will be in excellent position to successfully capitalize as sports betting and online gaming expand across the country,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “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.”
FanDuel has already entered the U.S. market through its live FanDuel branded sports book at the meadowlands Racetrack in New Jersey. The company said it is looking to maintain momentum in the market.
“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,” said Matt King, Chief Executive Officer of FanDuel Group.
Boyd has a physical presence in six states outside its core market of Nevada, including Mississippi. Boyd has launched its first sports betting operation outside Nevada, at its IP Casino in Mississippi and will launch a second at its Sam’s Town casino within weeks.
However, Boyd has also recently announced a partnership with MGM Resorts to offer online gambling services, which could allow FanDuel to launch operations in up to 15 different states. The deal, however, excludes Nevada. FanDuel did not choose to pursue a Nevada gaming licenses after regulators there ruled that daily fantasy play was a type of gambling.
Boyd officials said that both Boyd and FanDuel brands will be in play and the two companies would work to cross-promote one another’s operations.
In a related story, Boyd announced it has teamed with International Game Technology (IGT) to power its retail sports betting operations in Mississippi.
“The expansion of sports betting is an exciting growth opportunity for our company, and we are pleased to offer this new gaming entertainment product to our Mississippi customers via IGT’s proven, user-friendly technology,” said Vincent Schwartz, Boyd Gaming senior vice president of operations in a press release.