Draftkings Nevada
DraftKings will have increased opportunities to offer its online sports betting and casino gambling product in several new states -- potentially including Nevada -- as part of a multiyear deal with Caesars Entertainment announced Monday.
Caesars, which operates casinos in 13 states, receives an undisclosed equity stake in DraftKings in a partnership between a traditional gaming giant and an up-and-comer in the space.
Draftkings Nevada Ban
In states that authorize online sports betting and/or casino, DraftKings would still need to secure appropriate licensing, but having access to a partner with brick-and-mortar establishments will be an advantage.
DraftKings has been interested in operating in Nevada for nearly five years. As a technology company at our core, DraftKings believes that the best innovation comes from diverse perspectives, thoughts, beliefs, ideas, and experiences. We consistently push boundaries and challenge the conventional to ensure our culture and products reflect the expectations of our employees, and the customers we serve. DraftKings offers fantasy sports betting every day. Sports betting is not legal in every part of the United States, but it is in most. The states that DraftKings is currently not available in include Washington, Montana, Idaho, Nevada, Arizona, Louisiana, and Hawaii. DraftKings Info. DraftKings offers many services for sports fans to use.
DraftKings is a place where innovation is driven by teamwork and pioneers. See how we're having fun and changing an industry.
'Partnering with such a world class gaming organization will expedite our national roll-out process and give us the opportunity to work alongside one of the largest and most established industry leaders in the world,' DraftKings CEO and co-founder Jason Robins said in a release announcing the deal.
DraftKings currently operates sportsbooks in Mississippi and New Jersey and is looking to expand into other states that authorize sports betting.
Nevada is among the states Caesars operates in and one that DraftKings has been absent from since the fall of 2015, when state gaming officials ruled that daily fantasy sports constituted sports betting and would require a license.
DraftKings has not applied for a gaming license in Nevada, but has established an office near Las Vegas. The company said it was not discussing specific details of state entry at this time.
'We are committed to supporting DraftKings' bid to offer their online sports betting platform in all jurisdictions where they desire a license and where the law allows it,' a spokesperson for Caesars told ESPN in an email.
As part of the agreement, DraftKings will promote Caesars as its 'official casino resort partner' in states where the companies collaborate. Caesars can continue to offer its own sports betting and online casino, according to the release.
'This alliance is the latest initiative by Caesars to capitalize on our database, generate a new revenue stream in a growth market and raise our profile in sports, in part by creating new sports-themed guest experiences at our resorts across the country,' Caesars Entertainment president and CEO Mark Frissora said in the release.
Company inks multi-year deal
DraftKings is now the primary sponsor of the Center for Gaming Innovation within the International Gaming Institute (IGI) at the University of Nevada, Las Vegas (UNLV).
The American sports betting and DFS operator announced details of the partnership on Twitter:
As part of the multi-year deal communicated on October 28, a new DraftKings Gaming Innovation Studio will open on campus to help the sports betting company get access to local talent and new innovations. DraftKings branding and signage will appear throughout the Fulton Building, the location of the new studio. The Boston-based company will also look to deepen its ties with the local Vegas community.
turning creative ideas into viable casino games”
Center director Daniel Sahl said the new DraftKings studio will “substantially expand the scope and output of UNLV’s gaming innovation program.” He added that it will enable student collaboration in a professional setting that will see them “turning creative ideas into viable casino games.”
According to DraftKings’ co-founder and president of global technology and product Paul Liberman, both parties are “on the leading edge of developing the next wave of technology within the international gaming industry.”
DraftKings’ presence in Nevada
DraftKings opened its 300-person Las Vegas office, the operator’s second-biggest premises in the US, in January. It now hopes the UNLV deal will also provide access to top talent in the gaming industry. The news release announcing the sponsorship of the IGI Center noted that the university has a long track record of success with the commercialization of gaming products.
Despite its presence in Las Vegas, DraftKings has not yet sought a gaming license in Nevada, nor has it indicated any such plans for the region.
the recipient of a “cease and desist” order
Back in 2015, DraftKings was the recipient of a “cease and desist” order from the Nevada Gaming Control Board. The order deemed the operator’s daily fantasy sports offering to be sports betting as per state law and concluded that DraftKings could not operate in Nevada without a license.
Market expansion across the US
DraftKings has been rapidly expanding its presence in the US gaming sector through partnerships and product launches. Starting in 2012, the operator initially focused on daily fantasy sports before expanding into sports betting and online casinos in recent years.
Draftkings Las Vegas Office
Currently, DraftKings operates licensed sportsbooks in West Virginia, Pennsylvania, New York, New Jersey, New Hampshire, Mississippi, Iowa, Indiana, Illinois, and Colorado. It also has daily fantasy sports offerings in many states and online casinos in Pennsylvania, West Virginia, and New Jersey. The company aims to be present “in every regulated state possible”.