DraftKings is a well-known daily fantasy sports company that is currently making moves in other areas of the gambling industry. They are offering sports betting services as well as online casino options, with the company set to provide a presence in Pennsylvania.
Rumors and Truths
Over the past few weeks, rumors and truths have surfaced about DraftKings. The company is currently rumored to be acquiring SB Tech which is a sports betting company behind several casinos including the Presque Isle Downs of Pennsylvania. The company has also reportedly applied for sports betting licensing as well as an interactive gaming license.
This type of license is different than the one where operators have to pay $10 million to take part. The license being sought by DraftKings is one where they are the partner of a casino. With the licensing, DraftKings will be able to partner with a casino in the Category 1 to 3 range. They would be allowed to offer online gambling as well as sports betting services.
When it comes to sports betting brand will only have a few casinos to choose from when it comes to casino partners. These operators include the Stadium Casino project, Wind Creek Bethlehem, The Meadows and Lady Luck Nemacolin.
When it comes to online casino options, DraftKings would be open to working with Stadium Casino or Wind Creek. Stadium Casino might not be the best choice as they must still construct their land-based venue before they can offer services.
After seeing success in New Jersey, it makes sense for DraftKings to move on to a new state. As they try to obtain licensing in Pennsylvania, the company is setting themselves up for success in the online gambling industry across the board.
In New Jersey, the brand offers a sports book and online casino that have both been quite successful. The former daily fantasy sports company has truly spread their wings and are taking advantage of all areas of gambling to bring their business to the next level.
We can easily assume that the Pennsylvania Gaming Control Board will approve the operators licensing applications and they will be able to move into the state once a partnership is formed. It will be interesting to see who they choose and how they will begin offering services in the state in the future.
As to the rumors that DraftKings is going to acquire SBTech, they have yet to confirm or deny the idea. If they do take on the company, they would have an even stronger foothold in the sports betting industry than they did before and only be further set up for success.
If the deal is in the works, we should hear more about it in the coming weeks or months as terms are agreed and finalization takes place. Only time will tell how big DraftKings will grow and what all they will offer in the new gambling landscape found in the United States.