FanDuel is on the agenda for licensure this month in Nevada, but the company is keeping its plans close to the chest.
A company spokesperson declined comment on why FanDuel is listed on August’s Nevada Gaming Control Board agenda, which was published Thursday. The first hearing will come next week with the Gaming Commission meeting Aug. 25 for final approvals.
Not everyone is keeping their lips sealed, though. Boyd Gaming confirmed a Nevada Independent report that it will open a retail FanDuel Sportsbook at its Fremont property.
The retail sportsbook will use FanDuel brand and odds but will remain staffed by Boyd, according to the Independent.
What Boyd is saying about FanDuel
“We believe the FanDuel Sportsbook would be a great addition to the Fremont and the downtown area, and we look forward to sharing more details following the receipt of required regulatory approvals,” a Boyd spokesperson said.
Those additional details could include more casinos along with when the retail book could open. The Fremont is undergoing renovations that should wrap up this year, CEO Keith Smith said on Boyd’s earnings call.
Boyd has nine other casinos throughout Las Vegas. The market-access agreement between the two does not include Nevada, but Boyd also owns 5% of FanDuel so further expansion makes sense.
That stake has been quite fruitful for Boyd. The company expects about $30 million in cash flow from the stake this year and expects it to continue to grow, Smith said.
Limited DFS database in NV
FanDuel and DraftKings have not made their way into the Nevada sports betting scene just yet. Certain laws and regulations pushed the state to the back burner for the two DFS giants as they focused on other opportunities post-PASPA.
Both companies left Nevada in 2015 after it was determined daily fantasy sports operators would need a license like other gambling companies.
There is also the in-person registration requirement that hampers the Nevada sports betting market. A deal with a property that has good foot traffic like Boyd’s Fremont is a key part of success in Nevada.