FanDuel Wins Initial Approval To Co-Brand Fremont Casino Sportsbook In Las Vegas
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FanDuel Sportsbook is one step closer to operating in Nevada.
The Nevada Gaming Control Board on Wednesday unanimously voted to approve FanDuel’s license to co-brand the sportsbook inside the Fremont hotel-casino in Las Vegas as a FanDuel Sportsbook.
This approval, by a 3-0 vote, requires a final sign-off from the Nevada Gaming Commission. The commission next meets on Aug. 25.
The sportsbook co-branding does not include a FanDuel mobile app being available in Nevada, company executives said. FanDuel also has no immediate plans to open an office in the state. FanDuel CEO Amy Howe, who attended the Control Board meeting, lives in Los Angeles.
FanDuel is expected to seek approval for a mobile app at a future date. In the meantime, this sportsbook co-branding with the Fremont gives FanDuel entry into the lucrative Nevada sports betting market.
If the Nevada Gaming Commission gives final approval, the co-branding would occur in late 2022.
What Does Co-Branding Mean?
The Fremont, owned by Las Vegas-based Boyd Gaming, has a small sportsbook that will provide FanDuel’s sports betting lines and odds.
When the co-branding takes effect, the sportsbook will include an HD video wall, seating for 76 patrons, four ticket windows and seven self-service betting kiosks.
At Wednesday’s Control Board meeting, it was unclear what the sportsbook would be called, though company officials said it might be named something like “FanDuel Sportsbook at the Fremont.”
Seeking clarity on the co-branding arrangement, Control Board member Philip Katsaros said the lines are “blurred” in how the sportsbook setup will work.
He asked if the arrangement means that FanDuel will provide a data feed and give advice on betting odds but not assume risk management. He was told that definition is correct.
In a slide presentation, FanDuel said its role would be to provide “advice and support” for functions such as odds-setting and risk management. FanDuel will share the sportsbook revenue with Boyd Gaming, but Boyd employees will continue to handle the daily duties.
Patrons wanting to place bets using a mobile app at the Fremont can use any app licensed in the state, including the Boyd Sports app.
Boyd Gaming owns several casinos in Southern Nevada, in addition to the Fremont and two other downtown properties. Boyd’s other downtown hotel-casinos, the Main Street Station and California, do not have on-site sportsbooks. CA is currently working on putting betting legalization. If that goes through, sports betting in California may go live in 2023/24.
In Nevada, bettors wanting to use a legal mobile app must first register the app in person at a brick-and-mortar gaming property. This includes the Fremont in the downtown casino district for bettors wanting to register the Boyd Sports app.
Boyd, FanDuel Aligned Nationwide
Boyd, founded in 1975, operates 28 gaming properties in 10 states. The publicly traded company owns 5% of FanDuel, the leading online bookmaker in the U.S.
FanDuel’s parent company is Dublin, Ireland-based Flutter Entertainment, also publicly traded.
Boyd Gaming uses FanDuel to operate its mobile and on-site sports betting operations outside Nevada. This includes 12 retail sportsbooks across six states.
FanDuel’s own branded mobile app is operating in 15 states. In five of these states, a FanDuel retail sportsbook also is available for bettors.
Legendary Las Vegas Casino
The Fremont, which opened in 1956, is one of Nevada’s most storied hotel-casinos.
Decades ago, the Fremont was owned by Argent Corp., whose operations were illegally overseen by oddsmaker Frank “Lefty” Rosenthal, a Chicago Outfit associate. Robert De Niro portrays a Las Vegas underworld figure based on Rosenthal in the 1995 Mob movie “Casino.”
In the entertainment world, singer Wayne Newton, now known as Mr. Las Vegas, got his start at age 15 at the Fremont.
“We got hit with six shows a night, six nights a week,” he said of his early performances at the downtown casino.
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