FanDuel did not take long to announce its Missouri sports betting partner after missing out on an untethered license.
On Friday afternoon, the Flutter-owned sportsbook announced a market access deal with Major League Soccer club St. Louis City SC.
“Missouri is home to some of the most passionate sports fans in the country, and we are thrilled to partner with St. Louis CITY SC to introduce our industry leading product to the Show Me State,” said Mike Raffensperger, president of sports at FanDuel. “We look forward to supporting the team and engaging with the community as we bring America’s #1 Sportsbook to fans across Missouri.”
FanDuel was one of three applicants for two untethered Missouri sports betting licenses. Circa CEO Derek Stevens won over the Missouri Gaming Commission in his presentation, leading Circa and DraftKings to win the licenses.
No Boyd partnership for FanDuel this time
FanDuel may have partnered with one of Boyd‘s two casinos in Missouri had their market access agreement not changed. The two sides recently tweaked the agreement that helped FanDuel expand across the United States.
Flutter bought back the 5% stake in FanDuel that Boyd received in 2018 as part of the market-access agreement for $1.755 billion. They also renegotiated their agreement to pay fixed-fees across five states, not including Missouri.
The new terms will save Flutter $35 million over the second half of this year. The sale of Boyd’s 5% stake should close in the third quarter.
FanDuel already has Missouri sports betting database
DraftKings and FanDuel typically have an advantage in any new state because of their daily fantasy sports databases. In Missouri’s case, many residents already have betting accounts as well.
FanDuel operates in five of Missouri’s eight border states. That includes Illinois and Kansas, both of which share major cities with Missouri.
FanDuel representatives said there are already 110,000 customers in Missouri that bet with the company in other states. That is 2.3% of the state’s 21+ population.
