Flutter Entertainment's subsidiary FanDuel is reportedly seeking to become the new brand name for the sportsbook inside the downtown Fremont Hotel & Casino, whicho however would be still run by the casino owner, Boyd Gaming continuing to oversee sports betting operations.
Flutter is expected to be on the Nevada Gaming Control Board’s August agenda for licensing, according to a report by The Nevada Independent on Wednesday.
Boyd has a 5% ownership of FanDuel, which operates its own retail and online sports betting in the company’s casinos outside of Nevada. Boyd operates sports betting at its ten Las Vegas-area casinos through Boyd Sports, its retail and mobile sports wagering business.
According to the cited newspaper, the Fremont sportsbook would be rebranded as a FanDuel Sportsbook and the venue would post FanDuel odds, in case the Nevada regulators greenlight the licensing deal for Flutter. Nevertheless, Boyd Sports would continue operating the location with its employees. The Nevada Independent also reports that the initial licensing does not include an approval allowing FanDuel to launch its mobile sports betting app in Nevada, but that could come at a later time.
Boyd spokesman David Strow told the news website that "FanDuel Sportsbook would be a great addition to the Fremont and the downtown area.”
FanDuel would this way return to Nevada after having operated daily fantasy sports contests in the state until October 2015, when the state's gaming regulators ruled that daily fantasy was a form of sports wagering. The companies and other daily fantasy businesses had to be licensed as sports betting operators if they wanted to offer daily fantasy sports in the state, which then halted their Nevada operations.
By early next year, FanDuel will operate retail and mobile sports betting with Boyd casinos in eight of the company’s nine regional states. Through its partnership with FanDuel, Boyd has online casinos in Pennsylvania and New Jersey.
In late July, Boyd Gaming reported revenues of $894.5 million for the second quarter of the year, up slightly from $893.6 million in the same period last year. The modest 0.1% increase came despite a 6% decline in its gaming operations, which were down by about $40 million to $684.9 million, compared to $727.5 million in Q2 2021. Encouraged by the positive results, the company now targets to expand its US retail and digital footprint further.
The company's strategy includes the expected completion of the previously announced acquisition of California-based online gaming company Pala Interactive, for a cash consideration of $170 million. Pending the receipt of all remaining regulatory approvals, Boyd anticipates closure of the deal around year-end, ahead of a previously unveiled completion date by Q1 of 2023.
The Pala acquisition is part of Boyd’s strategy for the online gaming segment, which also includes the company’s presence in sports betting. As a result of recent legalization in Kansas and Ohio, the operator is planning the roll-out of retail and mobile sports gaming in these states alongside FanDuel.