DraftKings Confirms Partnership with Foxwoods Resort
DraftKings has joined forces with Foxwoods in anticipation of Sports Betting being launched in Connecticut
Connecticut remains one of the states that have yet to legalize online sports betting; however, some brands are making moves in anticipation of that changing. The Mashantucket Pequot Tribal Nation, which owns and operates the Foxwoods Resort Casino, has agreed to a new multi-channel agreement with DraftKings. However, Foxwoods will launch its new daily fantasy sports on December 13, while DraftKings will offer promotions and numerous online contests.
The Tribal Nation described the arrangement as “setting the stage” as they aim to provide access to online sports betting once the legislation is in place. Rodney Butler, chairman of the Mashantucket Pequot Tribe, was delighted with the news of their agreement. He states DraftKings are the “most prominent name in sports betting” and that partnering with them it reinforces their position “as a leader in the gaming and entertainment industry.”
Butler also stressed they have proven they can shape the future of gaming “time and time again” and are now gearing up to deliver sports wagering and online gaming in Connecticut. Butler said agreements such as this one would “help bolster our economy with much-needed revenue.”
There are only two casinos located in the Constitution State, with both having exclusive right to operate in exchange for 25% of their slot revenue. Since entering into this exclusivity arrangement, Foxwoods alone has generated $8 billion in revenue for Connecticut. The projections for online gaming and online sports betting revenue in Connecticut $175 million in the next five years.
Matt Kalish, co-founder, and President of DraftKings North America, has expressed his delight at securing this deal with Foxwoods. He released a statement which described the deal as a “landmark” moment and said it was a “critical next step to bringing America’s top-rated sportsbook app” to the people of Connecticut.”
Kalish also stated that expanding regulated sports betting across the country is among their “top strategic priorities.” Currently, DraftKings has mobile betting live in ten states, which is more than any other US operator.
Agreement Crucial for Legalization of Sports Betting
The two tribes in Connecticut have been pushing for online sports betting for a long time. So far, those efforts have not been too fruitful as the state has yet to introduce legal sports betting. The agreement with DraftKings could alter that as the tribe has now brought a big-name with a strong reputation on board. DraftKings will likely join the fight to being online legal sports betting to the state.
Another deal with the other tribe, similar to this one, could also potentially increase the pressure on state legislatures to move forward with sports betting. Past efforts to pass the sports betting bill have raised topics such as including online casinos or online lottery as part of the state’s gambling market. It is hard to predict the future of iGaming in Connecticut, but DraftKings announcing this news will undoubtedly lead to an exciting future.
Come and follow us over on Twitter @Gamble_usa for more legal sports betting news across the US.
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