DraftKings, Del Lago Casino Enter Agreement For Sportsbook
Daily Fantasy giant DraftKings has entered an agreement that will see them ready to open a sports book in New York when regulations are put in place.
While sports betting still isn’t totally legal in New York yet, casinos and betting companies are getting ready for the moment the necessary regulations are passed. DraftKings began setting their casino lineup with an agreement at the Del Lago Resort & Casino in Waterloo, New York. Under the agreement, DraftKings also is free to launch an online and mobile sports book.
Jason Robins, CEO and co-founder of DraftKings:
“New York is one of the largest revenue opportunities for future sports wagering operators and we are thrilled to partner with del Lago Resort & Casino to offer sports fans a unique and novel sports betting experience, both at a physical sportsbook and on mobile when permitted.”
Brent Stevens, co-chairman of Del Lago and CEO of Peninsula Pacific:
“We see DraftKings as a fantastic and strategic partner in our sportsbook operation at del Lago Resort & Casino, and this deal represents a tremendous move forward for our property in general. Our partnership with DraftKings combines one of the most recognizable brands in sports with the top resort and casino brand in New York and represents an incredibly important moment for gaming in the Upstate region. We look forward to working closely with DraftKings to create a dynamic, engaging and innovative sports betting experience for New Yorkers.”
Del Lago is the second casino DraftKings has teamed up with. In June 2018, DraftKings also partnered with Reports Casino Hotel in Atlantic City, New Jersey, as their online betting partner. By the time that the US Supreme Court struck down the federal gambling ban in the United States, DraftKings had spent a reported 6 months already developing their future sports betting product. The company hopes to have online sports betting live in New Jersey by the time NFL season starts.
DraftKings isn’t the only one moving in New York. Rivals FanDuel announced in early June that they had made agreements with Tioga Downs in New York to set up physical and online sports books. FanDuel, recently bought by Irish company Paddy Power Betfair, also opened their New Jersey sports book at the Meadowlands Racetrack on July 14th.
State Of Gambling In New York
New York had bills in both the Assembly and Senate, but neither bill managed to pass before the legislative session ended on June 20th. Disagreements among parties doomed both bills to die on the chamber floors. There was also opposition to the bills by local Native American tribes, who claimed the bills violated their compacts.
However, a 2013 law in the state of New York might give Empire State punters the opportunity to get a jump start anyway. The New York State Gaming Commission has been working on regulations that would allow four upstate New York casinos to begin accepting sports wagers. Those four casinos are Del Lago, Tioga Downs, Rivers Casino, and Resorts World Catskills.
However, mobile betting will not be legal yet, which could potentially undercut potential revenue. New York City residents could simply drive to Meadowlands Racetrack to get their betting on instead of heading all the way upstate. As described by New York Assemblyman Gary Pretlow:
“This is a state of 17 million people, and 10 million live more than 90 miles from the closest casino. Of those 10 million, nine million live within 20 minutes of New Jersey. So what’s going to happen, because we don’t have mobile betting, is that people downstate are going to go to New Jersey to bet. All they have to do is go across the bridge and be geolocated in the state.”
Pretlow plans to revive the bills and hopes to have state-wide sports betting legalized by the end of 2019.
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