FanDuel, already the leader in Pennsylvania’s growing sports betting industry, has received another boost with the announcement by The Cordish Companies that it will be its partner for future sportsbooks.
The Cordish Companies operates casinos under the Live! brand, and its under-development Philadelphia casino recently received Pennsylvania Gaming Control Board approval to debut an online sportsbook next year in advance of the casino’s opening. No date has been announced for that launch.
Cordish is also awaiting board action on its request to waive an additional $10 million sportsbook fee for a retail sportsbook in its future Westmoreland County mini-casino. Company officials have said that feature would not be affordable to include in the mini-casino if the fee is required.
FanDuel quickly rose to top in the state
FanDuel is already affiliated in Pennsylvania with the Valley Forge Casino Resort, and its online operation for them has had phenomenal success since launching in July.
In October, FanDuel’s $113.9 mm in online handle represented 57.3% of the total in Pennsylvania. It wasn’t far from being half of the state’s total online and brick-and-mortar handle of $241.2 mm. The revenue figures for November are to be released next week.
“This partnership allows us to capitalize on the incredible success of sports betting to date and bring FanDuel’s top sports betting operations to Cordish destinations across the United States,” Matt King, CEO of FanDuel Group, said in a statement announcing the new partnership.
“We are excited to partner with FanDuel to bring our customers the premier sports betting experience in the country, including unique promotions and sports engagement opportunities that will only be available at Live! properties,” stated Joseph Weinberg, principal of The Cordish Companies.
Cordish also owns and operates the Live! casino in Maryland, where sports betting has not yet been legalized. The announcement said the two companies will be working to pursue the opportunity there.
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