FanDuel and DraftKings’ absence in Nevada is impacting the sports betting space in Nevada. This is because both operators are the biggest players in the sports betting industry. However, there is a possibility of bringing Fanduel in through an acquisition.
This was the supposition from FanDuel and its parent company, Flutter Entertainment.
As per the CFO of Flutter, Paul Edgecliffe-Johnson, their company is willing to venture into any lucrative online gaming market. However, with Nevada, the problem is related to certain restrictions, making it impossible for them to enter without an acquisition.
Nevada requires operators to have a physical casino initially, and considerations will be made for the online space. Both FanDuel and DraftKings lack this facility.
As a proper setup, DraftKings only has an office in Southwest Las Vegas, whereas FanDuel is even less equipped. It offers odds to Fremont Hotel Casino of Boyd Gaming, but it’s only connected with a real-world gambling joint.
Incidentally, Boyd owns 5% of FanDuel, and it is assumed that Boyd, restructuring its Suncoast Hotel And Casino, may come up with the same proposition for FanDuel, following the completion of its sportsbook.
In the words of Padraig O’Riordain of Flutter, they are extremely apprehensive about taking a risk in matters of gaming. Still, the prospect of entering Nevada is somewhere on the anvil.
According to certain observers, Nevada lacks a state income tax structure, so the state remains bereft of revenue for its personal listing needs. The big players do not favor this system. FanDuel and DraftKings are known to have captured 80% of the online sports betting market in the US.
For similar reasons, ESPN bet and Fanatics avoid Nevada.
Out of all of them, it may be ESPN bet which changes its stance since owner Penn Entertainment operates the M Resort Spa Casino in Henderson. This, too, is not expected to happen anytime soon.
