Las Vegas retail sportsbetting opportunity for FanDuel Group

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American sportsbetting giant FanDuel Group could reportedly premiere a retail operation in downtown Las Vegas as soon as next month after having it’s license application approved by the Nevada Gaming Control Board.

According to a Wednesday report from the Las Vegas Review-Journal newspaper, the unanimous move from the three-member regulator is now widely expected to be confirmed by the Nevada Gaming Commission at this second body’s next meeting on August 25. Such an outcome would purportedly allow FanDuel Group, through its Flutter Entertainment parent, to capitalize on an agreement with local casino operator Boyd Gaming Corporation so as to bring sports wagering to the Fremont Hotel and Casino.

Planned particulars:

The Las Vegas Review-Journal reported that the envisioned 76-seat sportsbook for the Fremont Hotel and Casino is to adopt FanDuel Group branding across its four windows and seven self-service kiosks but be run by personnel already employed by Boyd Gaming Corporation. The pair’s agreement would purportedly also see the former firm supply odds and risk management advice via the former’s existing International Game Technology-powered system.

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Limited reach:

FanDuel Group has operations in multiple American jurisdictions although an unidentified company executive reportedly told the newspaper that the firm has no plans to follow up its Nevada retail launch with an online element. Similarly, an anonymous representative for Boyd Gaming Corporation purportedly disclosed that the partnership is to involve only the rollout of a sportsbook within the 447-room Fremont Hotel and Casino venue and none of the firm’s other Las Vegas area properties.

Evolving environment:

The newspaper reported that Nevada prohibited FanDuel Group and compatriot DraftKings Incorporated from offering their daily fantasy sports services to local punters in October of 2015 after such activities were deemed to be games of chance. However, the revocation of the Professional and Amateur Sports Protection Act (PASPA) some three years later purportedly gave both the ability to begin supplying a wide range of land-based and online sports wagering entertainment to partners in consenting jurisdictions.

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Active alliance:

As part of its Wednesday hearing before the Nevada Gaming Control Board and FanDuel Group reportedly divulged that it is looking to expand retail operations from its existing tranche of 26 sites located in 15 American jurisdictions. The firm furthermore purportedly noted that roughly half of these enterprises situated in the states of Mississippi, Illinois, Louisiana, Indiana, Pennsylvania and Iowa are run in cooperation with Las Vegas-headquartered Boyd Gaming Corporation, which owns some 4.5% of its shareholding.

Prevalent purveyor:

The Las Vegas Review-Journal finished by citing information from sports betting analyst Eilers and Krejcik Gaming that shows FanDuel Group has amassed a dominant position in 14 of the 15 American jurisdictions in which it is active. The New York-headquartered enterprise purportedly moreover holds a 47% market share nationwide and most recently started operations in Arizona via an arrangement with the Phoenix Suns franchise of the National Basketball Association (NBA).

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