Fanatics Partners with Boyd for Missouri Sports Betting License
Fanatics Partners with Boyd for Missouri Sports Betting License
Table of Contents
Key Highlights:
- Fanatics forms partnership with Boyd Gaming to offer sports betting in Missouri.
- This marks Boyd’s initial sports betting deal following the sale of its FanDuel stake.
Fanatics Betting and Gaming has announced its entry into Missouri’s sports wagering market through a partnership with the regional casino operator Boyd Gaming (NYSE: BYD). This collaboration allows Fanatics to leverage Boyd’s existing sports betting license.
Recently, the Missouri Gaming Commission (MGC) granted two untethered online sportsbook licenses to DraftKings and Circa Sports, mandating that any other gaming entities aiming to provide sports wagering must align with professional sports teams or land-based casinos present in Missouri. Thus, Fanatics was compelled to seek a local partner.
Under the multi-year agreement, Fanatics Sportsbook will manage mobile sports betting on behalf of Boyd in Missouri, with plans to launch Fanatics-branded retail sportsbooks at Boyd’s Ameristar Casino Hotel Kansas City and Ameristar Casino Resort and Spa St. Charles near St. Louis. The objective is to roll out these online and retail betting services coinciding with the official launch of regulated sports wagering in Missouri this December.
The financial terms of the Boyd-Fanatics deal have not been disclosed yet. However, the online sports betting platform is expected to go live in Missouri this December.
Interesting Move by Boyd
This collaboration is significant for Boyd, marking its first sports betting agreement since disposing of its 5% stake in FanDuel to Flutter Entertainment (NYSE: FLUT). This sale, which concluded in July, generated approximately $1.758 billion for Boyd, earmarked for debt reduction.
This transaction included an extension of Boyd’s partnership with Flutter through to 2038.
The choice of Fanatics over FanDuel, especially given the surprise surrounding Circa winning one of the untethered licenses, adds an interesting layer. With FanDuel pivoting to partner with St. Louis City SC of Major League Soccer (MLS), many expected Boyd to re-engage with FanDuel.
Fanatics’ Offerings in Missouri
While FanDuel and DraftKings dominate the US sports betting landscape, Fanatics has begun to make notable strides in various states. Many attribute this growth to their aggressive promotional strategies.
Fanatics’ competitive edge includes attractive features to lure Missouri sports fans:
- Up to 10% FanCash back on every bet, win or lose.
- Exclusive injury protection through Fair Play™.
- Unique events and experiences tied to the brand.
As Fanatics gears up for its launch this December, fans will soon be able to access the Fanatics Sportsbook on both iOS and Android. This is sure to offer a fresh alternative for sports enthusiasts vying for new experiences in Missouri.
As the landscape of sports betting continues to evolve, the expectations surrounding partnerships like this one play a crucial role in shaping consumer experiences.
Conclusion
Fanatics’ strategic partnership with Boyd Gaming illustrates the growing competition within the sports betting sector in Missouri. With Fanatics ready to launch its sportsbook, consumers can look forward to unique features and an engaging betting experience. As the industry continues to adapt and flourish, this venture promises to enhance the sports betting landscape in the Show-Me State.
