DraftKings (NASDAQ:DKNG) could eventually puddle its long-awaited relocation into Sagebrush State sports wagering following the purchase of Golden Nugget Online Gaming (NASDAQ:GNOG) proclaimed before this week.
On Monday, the sportsbook manipulator said it’s getting Tilman Fertitta’s online casino unshakable for $1.56 billion inward equity. That could pave the way of life for DraftKings to gain ground memory access to the second-largest sports wagering market inwards the US. It’s unity where the Boston-based companion and rival FanDuel are surprisingly absent.
In a demonstration to investors on the buyout, DraftKings discusses securities industry access, though stops unforesightful of specifically mentioning Nevada.
Preferred marketplace memory access rates through existing Golden Nugget casinos. Retail sportsbooks at current and hereafter Golden Nugget casinos to follow rebranded as DraftKings,” according to the presentation.
Fertitta’s Fertitta Entertainment is the proprietor of the land-based Golden Nugget Casinos and the Landry’s restaurants empire. That accompany controls Little Phoebe Golden Nugget gaming venues, including single in downtown Las Vegas and another in Laughlin, Nevada.
DraftKings Nevada History
In 2016, prior to the 2018 Supreme Margaret Court ruling on the Professional and Amateur Sports Protection Act (PASPA), DraftKings and FanDuel lobbied Nevada regulators to count developing a fantasize sports license.
That didn’t happen, and then Attorney General cristal Laxalt ruled daily fantasy sports (DFS), and then the primary business for DraftKings and FanDuel, “constitute sports pools and gambling games.” That meant the operators requisite to obtain a sports betting allow to uphold operating in Nevada, which they did not do.
Since then, DraftKings’ NV footmark consists of a Las Vegas business office that opened in January 2020. It became the primary patronise for the Center for Gaming Innovation at the University of Nevada, Las Vegas finally November, and the acquirer of the Vegas Sports Information Network (VSiN), announced in March. However, the manipulator hasn’t set-aside(p) a single bet inwards the res publica that’s the mecca of house servant gambling.
Should DraftKings in the end advance get at to online sports betting inwards Nevada, it’d go away head-to-head with entrenched rivals such as BetMGM, Caesars, and Circa, among others, testing the operator’s vaunted brandmark recognition.
More Market Access Details
DraftKings’ purchase of GNOG, which is scheduled to live completed inwards the number one quarter of 2022, is being praised by Wall Street and includes other potentially compelling market place approach tidbits.
Notably, the acquirer becomes the exclusive daily fantasise sports, sports betting, and iGaming partner of the Samuel Houston Rockets, and testament surface a retail sportsbook at Toyota Center, significance it’s positioning for Texas to eventually sanction sports wagering.
When the acquisition closes, DraftKings will uphold accepting wagers on the Samuel Houston Rockets. That’s something Golden Nugget online and retail sportsbooks are forbidden from doing because Fertitta owns the team.
Golden Nugget’s other land-based casinos are inwards Louisiana, Mississippi, and New Jersey, with another planned for Illinois. DraftKings is already in operation(p) inward Illinois, Mississippi, and New Jersey, and presently will be inwards Louisiana.