As first reported by Bloomberg, daily fantasy sports giant, turned sports betting provider, DraftKings, has entered into an agreement with del Lago Resort & Casino to offer a retail location and online sports betting.
Located in Waterloo, New York, del Lago could be home to DraftKings’ first physical sportsbook – although the world may have to wait for a while before it is revealed in the Empire State.
A big deal for Del Lago
Upon opening in Feb. 2017, del Lago became New York’s second commercial casino. Although obviously still new to the area and the industry, the Finger Lakes-area casino is quickly making strides toward modernization.
With regulated sports betting still a possibility for NY, del Lago has landed its partner to get rolling once regulatory framework is passed. To boot, the casino that has fallen short of revenue projections could now have a steady-flowing stream – from revenue and tourism standpoints – should wagering go live in the state.
“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,” said del Lago co-chairman Brent Stevens. “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.”
DraftKings pads portfolio
For months DraftKings has hinted at its desire to enter the sports betting industry, even before the US Supreme Court ruled the Professional and Amateur Sports Protection Act (PASPA) unconstitutional to clear the path for state-regulated wagering.
In June, the DFS company made its first step by inking a deal with Resorts Atlantic City, allowing DraftKings the land-based partnership it needed to offer sports betting. Not long after, it partnered with Kambi Group as its sportsbook operator.
Over this past weekend, DraftKings’ founders tweeted out teasers to the company’s sportsbook app. Now, DraftKings has landed another partnership to pad its sports betting portfolio.
That said, there is still work to be done in New York.
NY sports betting a no-go for now
There is still no timetable as to when NY sports betting will begin, especially considering state legislators dropped the ball in passing legislation in time for 2018.
Currently, online wagering is not allowed at all, though there is still hope that the New York gaming commission will soon allow for land-based betting in the state’s four commercial casinos, which includes del Lago.
Should lawmakers agree on a regulatory framework to roll out sports betting next year, it would be something of a redemption for DraftKings, which had to halt DFS operations in the state for some time due to a legal battle with former attorney general Eric Schneiderman.
Regardless, DraftKings CEO and co-founder Jason Robins remains optimistic about the sports betting future in New York.
“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.”