Filing Request Reveals DraftKings And FanDuel Applied For Nevada Gaming Licenses

DraftKings and FanDuel have already started the process of becoming sports betting operators in Nevada.

A request for public records through PlayUSA found that national sports betting, online casino and daily fantasy sports companies applied for gaming licenses from the Nevada Gaming Control Board.

Spokesmen for the Nevada Gaming Control Board called the requests ‘waiting for’ and confirmed that neither has been completed for Board review and approval.

On hold for quite a while, in the case of DraftKings. A Gaming Control Commission Investigations Division the stamp on this request is dated March 11, 2020.

The FanDuel document has been stamped “Rec’d Candidat Services” on March 25, 2021, by the same branch.

A spokesperson for DraftKings reaffirmed the company’s goal of nationwide expansion, but declined to comment on Nevada’s bid. FanDuel did not respond to requests for comment.

What the DraftKings and FanDuel apps say

The nominations are not surprising given that executives from both companies have expressed a desire over the past three years to take bets in the birthplace of the legal sports betting industry in the United States. Nevada remains an epicenter of commerce even as 32 states and jurisdictions have legalized sports betting.

The return would be loaded with symbolism for DraftKings and FanDuel, not only by adding Nevada to their portfolios, but because of how companies closed there in 2015. That year, Nevada regulators were considering the fantasy. daily as a sports game and required a license as such. . Both quit rather than apply and refocused their resources on sports betting in the years before they became a national possibility following the Supreme Court’s overturn of the Law on the Protection of Professional and Amateur Sports in 2018.

In 2020, Co-founder of DraftKings and North American President Matt Kalish called Nevada “ground zero for sports betting,” adding “we need to be part of this market.”

FanDuel currently takes mobile or retail betting in 18 states, DraftKings, with its rival one of national leaders in gross gaming income, is active in the same.

DraftKings

DraftKings’ “Nevada Gaming License Approval Application by a Corporation / Partnership / Limited Liability Company” was notarized in Suffolk County, Massachusetts on March 6, 2020 and filed by Chief Financial Officer and Compliance Timothy Dent, chief Managing Director and Co-Founder Paul Liberman and Crown Game, Inc.

According to demand, NV Gaming Crown – which lists Liberman and Dent as executives – was in March 2020 “exploring a potential partnership with Resorts World Las Vegas … to integrate DraftKings brand, technology and compliance as RWLV builds its retail space and sports betting offers ”.

Resorts World opened on the Strip in June 2021 with an in-house bookie. DraftKings ‘pursuit of an alliance with Resorts World followed a series of mergers and acquisitions that complicated DraftKings’ deal with Caesars as a way to enter Nevada.

FanDuel

FanDuel’s “Application for Nevada Gaming License Approval by a Corporation / Partnership / Limited Liability Company” was approved by Matt King – who resigned as CEO in May – and notarized in the county from Cook, Illinois, October 26, 2020.
It lists “TBD” as the proposed opening date for FanDuel Sportsbook. The DraftKings and FanDuel apps both search for the license types searched for “Distributor”, “Manufacturer”, “Information Service”, “Suitability Determination” and “Game Revenue Share”.

A distributor license as defined by Nevada gambling law authorizes the licensee to “sell, distribute or market any gaming device, machine or equipment in the State of Nevada in accordance with Regulation 14”.
A manufacturer’s license authorizes its holder to “manufacture, assemble or produce any apparatus, equipment, material or machines used in games of chance, except pinball machines, in the State of Nevada in accordance with regulation 14”.

Both DraftKings and FanDuel indicate desire to apply for a gaming license to offer Craps, Roulette, Twenty-one, Keno, Bingo, Wheel of Fortune, Baccarat, Pai Gow, Facebook and Sports. Pool.

Under Nevada law, investigators must issue a sports betting licensing report to the NGCB. The report is reviewed and discussed at a public meeting before the Board of Directors makes a recommendation to the NGC. This council has two weeks to discuss the matter in a public forum before making a final decision.

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DraftKings laid the groundwork for Nevada’s comeback

DraftKings foreshadowed its intentions at the sight of its marine papers.

The company announced in October its intention to to build its second largest office space in the United States, 90,000 square feet of space to house 1,000 Las Vegas employees. In 2020, she begins a sponsorship relationship with the UNLV Game innovation studio.

But perhaps more importantly, in August, the company announced plans to acquire Golden Nugget Online Gaming for $ 1.56 billion in an all-stock acquisition. This agreement would include a presence in Golden Nugget casinos, presumably like the one on E Fremont Street in Las Vegas.

Future contestants are already thinking about how the arrival of DraftKings would change the nature of the game in Nevada, with Circa athletic director Matt Metcalf in October, calling DraftKings’ eventual entry a “seismic” moment for Nevada. He also said he was eager to compete with the mobile brand by leveraging the home ground advantage that comes with an existing customer base and a scintillating new bookie around the corner. Gold nugget.

Tilman Fertitta, which owns 46% of Golden Nugget online game, and will join the DraftKings board of directors, spoke about the deal’s transformative potential during a results call.

“Let’s be honest, they are the market leader. They are the brand, ”he said of DraftKings. “There is going to be a lot of consolidation in this space. We want to be part of someone bigger. I just wanted some stock so we could ride this with them.

Tilman could drive to Nevada. The arrival time remains pending.

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