Posted on: July 7, 2021, 09:06h.
Last updated on: July 7, 2021, 11:05h.
FanDuel’s sportsbook is operational in 10 states. But that number will soon expand to 11 with Connecticut expanding its gaming compact.
Today, Mohegan Gaming & Entertainment (MGE) announced that it’s partnering with FanDuel.
The leading sportsbook, iGaming, and daily fantasy sports operator will facilitate in-person sports betting at MGE’s namesake casino resort, Mohegan Sun. FanDuel will additionally operate Mohegan Sun’s online casino slots and table games, mobile sports betting, and DFS.
Last month, MGE announced a new gaming subsidiary — Mohegan Digital. The unit comes as a result of Connecticut lawmakers and Gov. Ned Lamont (D) expanding the Mohegan and Mashantucket Pequot tribes’ Class III gaming compacts to include online games, as well as retail and mobile sports betting.
Mohegan Digital will handle the implementation of the FanDuel operations.
Along with the 10 states the FanDuel sportsbook is live, the interactive gaming provider offers DFS contests in 44 states. The company’s iGaming casino is regulated in New Jersey, Pennsylvania, and West Virginia.
But today’s announcement of FanDuel partnering with MGE is a company first. Mohegan Sun is FanDuel’s debut gaming partnership with a tribal enterprise. Due to the momentous pact, FanDuel says it will go big when it comes to its physical presence at Mohegan Sun in Uncasville, Ct.
When we combine the retail sports betting experience with the opportunity for online sports betting and iGaming, Connecticut is going to be a key state for us as we look towards the start of football season,” explained Amy Howe, FanDuel Group president.
Once the appropriate regulatory conditions are met, FanDuel says it will place a temporary sportsbook inside Mohegan Sun, with four live betting windows and 16 self-service kiosks. FanDuel and Mohegan Sun expect to open their permanent sportsbook lounge in the winter of 2022.
FanDuel didn’t say which of its brick-and-mortar sportsbooks is currently its largest. But its most profitable is its sports betting operations at the Meadowlands Racetrack in New Jersey.
In 2019, FanDuel’s first full year in operation at the Meadowlands, the book reported gross gaming revenue of nearly $150 million. During the pandemic-stricken 2020, the FanDuel Meadowlands operation won $206.5 million from bettors.
Foxwoods, the Mashantucket Pequot casino resort, hasn’t been as quick to jump into the online gaming and sports betting space. But the Native American group will have no problem fielding a slew of bidders looking to partner.
Though Connecticut isn’t a large state in terms of population, as it ranks No. 29 of the 50 states with roughly 3.5 million residents, its people are wealthy. Connecticut’s median household income of $78,833 ranks No. 6 in the nation. Connecticut is also the fifth-most educated demographic, with nearly 18 percent of adults aged 25-64 holding a graduate or professional degree.
Notable suitors that are likely interested in entering Connecticut include DraftKings, BetMGM, and Caesars/William Hill.