Sportsbook provider and gambling company FanDuel is set to enter Nevada. The move will have FanDuel entry in Nevada via a rebranding of the Fremont Hotel Casino’s sportsbook and casino owner Boyd Gaming will remain to oversee any operations related to sports betting. The agreement is reported by sources just this week.
“This project will help us capture a larger portion of pedestrian traffic throughout the Fremont Street Experience,” Boyd Gaming CEO Keith Smith said.
The new licensing agreement with FanDuel at Fremont will have the new facility feature FanDuel odds. Despite this, sources familiar with the matter revealed the initial licensing agreement has no approval for FanDuel to launch its mobile sports betting app in the state, instead it could come later in the future.
Boyd Gaming spokesperson David Strow in an email statement via The Nevada Independent said that further details will be shared regarding regulatory approvals of the move.
“We believe the FanDuel Sportsbook would be a great addition to the Fremont and the downtown area,” Boyd Gaming spokesman David Strow said in an emailed statement. “We look forward to sharing more details following the receipt of required regulatory approvals.
Boyd Gaming owns five percent of FanDuel and has been operating the sportsbook provider company within Boyd Gaming’s casinos outside Nevada.
“Our five percent ownership of FanDuel is an important strategic asset that will grow more valuable as sports betting expands and FanDuel continues to build on its position as the nation’s leader in online sports betting,” Smith said after the company’s second-quarter earnings conference call last week.
Aside from Nevada, both Boyd Gaming and FanDuel will operate retail and mobile sports across eight out of nine regional states of Boyd Gaming.
Smith remains optimistic that working with the sportsbook provider company will generate an estimated amount of $30 million in cash flow and help Boyd Gaming with its next year’s plan to enter new markets.
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