DraftKings is well positioned to capitalize on New York sports betting

DraftKings is well positioned to capitalize on New York sports betting

July 17, 2018 3:01 AM
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(NEW YORK) DraftKings Inc. and del Lago Resort & Casino announced today that they have entered into an agreement to provide a physical sportsbook at the del Lago Resort & Casino located in Waterloo, N.Y. In addition to partnering together on a retail sportsbook, this agreement also enables both partners to create a mobile and online sports wagering option in the Empire State should legislation authorize online sports wagering.

DraftKings is well positioned to capitalize on the New York market through its industry-leading technology and more than 10 million customers. The company began work on its sportsbook product a year ago, immediately following the Supreme Court’s decision to take up New Jersey’s challenge to the Professional and Amateur Sports Protection Act.

“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,” said Jason Robins, CEO and co-founder of DraftKings.

Pending the adoption of a state law authorizing online sports wagering and corresponding regulations, DraftKings plans to leverage its experience in developing popular daily fantasy sports contests to launch a sports betting app along with a web-based platform in the state of New York.

“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 Brent Stevens, co-chairman of del Lago and CEO of Peninsula Pacific. “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.”

This is the second sports wagering partnership DraftKings has secured, having announced a similar partnership last month with Resorts Casino Hotel in Atlantic City, N.J., as their licensing partner for online sports betting in that state. DraftKings expects to offer mobile and online sports betting in New Jersey by the start of the NFL season.