Summary: Switching from DFS to sports betting, DraftKings is making a name for themselves in the United States as a top provider of services via casinos.
DraftKings has been known for years as a top provider of Daily Fantasy Sports. The brand has helped players enjoy fantasy sports contests, providing prizes and fun in states across the US. When sports betting became a reality in the early summer, the brand decided to expand their business and offer sports betting services. The operations have been a success as DraftKings have been able to secure partnerships with top operators in the industry. Most recently, the company has announced a new deal with Penn National.
West Virginia Sports Betting
DraftKings has signed a partnership deal with Penn National, set to launch online sports betting via the Hollywood Casino, a venue located at Charles Town Races in West Virginia. According to a press release, DraftKings will be providing a ‘superior and engaging online sports betting experience’. This offering will include live and in-game betting, wagering on major US sports as well as niche international options.
Penn National is the operator behind the West Virginia casino but they also operate the Hollywood Casino located at the Penn National Race Course in Pennsylvania. Now that the WV casino is set to launch sports betting online, analysts are wondering if DraftKings will launch online at the Pennsylvania venue as well.
In Pennsylvania, Penn National has partnered with William Hill to offer sports betting within their casino. The brand is the owner of the Hollywood Casino as well as the Meadows Casino. While the Hollywood has sports betting licensing and is offering services, the Meadows has not applied for such licensing as of yet.
Penn National is also working with William Hill to launch sports betting in West Virginia. The company announced the land-based services in conjunction with the brand at the Hollywood Casino at Charles Town Races. It seems that Penn National is relying on William Hill for their onsite sports betting services and are looking to use DraftKings for their online options.
It is interesting to consider, particularly since William Hill also operates online sports betting services, internationally, and has vast experience when it comes to such services. It seems that Penn National has decided to stick clos to home when it comes to online gaming and work with DraftKings, however, no information has been revealed as to if the company will be providing online services in Pennsylvania for Penn National as of yet.
While DraftKings is known for their daily fantasy sports offering, they are making headway in the sports betting industry. The company was the first to launch an online sportsbook in the state of New Jersey, launching before any of the established casinos got their services off the ground.
Revenue reports provided by the state’s Division of Gaming Enforcement have shown that DraftKings is the top performer when it comes to sports betting in the region. For last month, DraftKings, along with Resorts Casino and BetStars, their partner companies, were able to generate over $7.1 million in revenues. The majority of that number came from DraftKings.
It will be interesting to see how DraftKings fares when services start online in West Virginia. We expect additional partnerships will continue for the company in other states as they continue to build a stronghold in the sports betting industry.