DraftKings is a name synonymous with daily fantasy sports gaming and has been for many years. Since 2012, the company has provided quality daily fantasy sports contests in many states around the nation. However, the company is quickly branching out now that sports betting is a reality in the United States. DraftKings operate sports betting in New Jersey, Mississippi and soon to be in West Virginia. They also have become involved in online casino gaming. Efforts are now being made to branch out further as the company just recently launched a new office in the Hoboken region of New Jersey and are now considering the state their gambling hub.
New Office Space
In New Jersey, DraftKings has opened a new office that is 7,500 square feet in size. The office is larger than their sportsbook at Resorts Atlantic City and has 50 employees working on-site. The Garden State is considered a key location for the company as they work on growing their gambling business. New Jersey has quickly become the top operating state when it comes to online gambling and their land-based industry continues to grow as well.
Co-founder and COO Paul Liberman commented last week to the media on the state and its influence on the company stating: “This is turning into our gaming hub. A lot of our talent here is for our overall sports betting product. It’s not just New Jersey related. As we expand nationwide, New Jersey is going to have a more critical role.”
DraftKings built a name for themselves as a daily fantasy sports giant. The company was first established in 2012 and now operates in 42 US states. Once the Supreme Court ruled last year the sports betting was a go in the US, they began to work on expanding their operations to include sports betting. They were the first to launch an app in New Jersey regarding sports betting services, which was a first in the US outside the state of Nevada.
The app was a success and a starting point for the company to branch out in the sports betting industry. The company operates a retail sportsbook in the state as well as an online casino, which is integrated within the sportsbook application.
The online casino has done surprisingly well considering the company’s specialty is sports. The ability to cross-sell has helped the company to reach new heights and has pushed the license holder, Resorts AC, to reach new potential by way of online gambling revenues. The online casino has helped to push Resorts to the second spot when it comes to online casino revenues.
Additional Operations.
DraftKings is also busy in other states. They have a sportsbook in Mississippi at the Scarlet Pearl casino and hope to launch soon online in West Virginia. In WV, the company has signed an agreement with Penn National Gaming. They plan on offering online sport betting services in the state.
So, what’s next for DraftKings? The company is most likely looking at other states to begin offering sports betting as new states begin to legalize the option. New York state might be on their radar as well as Indiana, Tennessee and other states.
The industry is growing at a fast rate and because DraftKings is an established brand, they will easily be able to integrate services within a new state. It will be interesting to see what the company does in New Jersey as they continue to expand as well as to see which states the company decides to work with next.
