Boyd Gaming Signs Deal with FanDuel Group
Boyd Gaming recently announced that it had signed a deal with the FanDuel Group. The new partnership will be centred on offering land-based and online sports betting in the United States. As the sports betting market in the USA continues to grow, numerous companies are looking for partnerships that could give them an advantage. The deal between FanDuel and Boyd is just the latest deal to be announced.
Boyd Gaming Takes Stake in FanDuel
Boyd Gaming is a Vegas-based regional casino company. As part of the deal, Boyd will take a 4% equity in the FanDuel Group. Recently, FanDuel was bought out by Paddy Power Betfair, a massive sports betting firm from the UK. In exchange for the 4% equity, FanDuel will be able to operate its sports books and other online gaming services in several other American states, where Boyd Gaming is present. FanDuel will also assist in providing Boyd with technology and other services. This will allow Boyd to better provide its online sports betting and gaming services.
The deal will likely be very important to FanDuel. Boyd Gaming is present in six states, outside of Nevada. One of those states is Mississippi, which has already voted to allow sports betting. Last week, Boyd launched its first sportsbook outside of Nevada. In the near future, a second sports book will be opened at its casino in Sam’s Town.
USA Market Growing Fast
The new deal between Boyd and FanDuel will not have an impact on Boyd’s Nevada operations. However, FanDuel will also benefit from the recent agreement between Boyd and MGM. This agreement allowed MGM and Boyd to offer online gaming and sports betting services in states where either company had a physical presence, provided it was legal to do so. This should allow FanDuel to have access to as many as 15 states in the future.
GVC also signed a deal with MGM a few weeks again, and it should expect to enjoy similar access. The FanDuel Group was created after Paddy Power Betfair merged with the Daily Fantasy Sports operator. The deal was completed in July, and the first FanDuel sports book opened in New Jersey soon after. With all these deals going on, the sports betting market in the USA is shaping up to be one of the best in the world.