Analysis

FanDuel shows commitment to retail

The leading online brand FanDuel has committed to two significant retail ventures as it presses home its market leadership advantage.

FanDuel is set to launch two new retail ventures in New Jersey and Washington D.C. as it continues to assert itself as a market leader across multiple states.

The new retail offering in New Jersey will come about should new partner Twin River Worldwide complete its planned acquisition of the Bally’s Atlantic City casino.

It would be FanDuel’s second on-premises betting outlet. The number one operator in New jersey runs the retail betting out of the Meadowlands complex.

FanDuel and Twin River are already partners in Colorado.

While important for the companies involved, neither move will do much for the gaming friendliness of either New Jersey or D.C as measured by the Wedge Index

New Jersey remains the runaway leader in the index.

A Capital project

Meanwhile, FanDuel is also set to enter the Washington D.C. market after signing a 10-year deal with MLS team D.C. United to be its exclusive sports betting partner.

As part of the agreement, FanDuel will build a sportsbook at D.C. United’s Audi Field. 

Like Meadowlands, which draws in punters from nearly New York, the new Audi Field sportsbook is expected to draw in customers from neighboring states.

“It’s a new revenue stream for the team, and also a new revenue stream for the District of Columbia,” said Sam Porter, the team’s chief strategy officer. 

“But more than that, it’s a new entertainment opportunity both for our fans, and people who aren’t necessarily soccer fans but want to come from Maryland, Virginia or D.C. to place wagers.”

FanDuel will be the second retail outlet in D.C. following the debut of the William Hill sportsbook at the Capital One Arena in August. The Arena is home to the Washington Wizards and the Washington Capitals.

Somewhat controversially, William Hill’s sportsbook has reversed what should be the normal relationship between retail and online and is ahead of the state lottery’s online operation GamBet in revenue since launching.

Heading south

A FanDuel sportsbook at Bally’s AC will mark its debut in the south of the state.

“The FanDuel Sportsbook is the clear market leader in New Jersey and we are excited to expand our retail footprint in the state to include Atlantic City,” said Matt King, CEO FanDuel Group.

“The permanent sportsbook location is going to be one of the many exciting changes we have in store for the Bally’s property – a unique location just steps away from center boardwalk where millions stroll by annually,” said George Papanier, president and CEO of Twin River Worldwide.

Twin River also said it hoped to launch its own Bally’s-branded sportsbook and online gaming proposition once it gained control of the property.

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Scott Longley

Scott Longley has been a journalist since the early noughties covering personal finance, sport and the gambling industry. He has worked for a number of publications including Investor's Week, Bloomberg Money, Football First, EGR and GamblingCompliance.com. He now writes for online and print titles across a wide range of sectors.

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