Emergent online sports betting leader FanDuel cleared a major hurdle in Pennsylvania on Wednesday.
During its regularly scheduled meeting in Harrisburg, the Pennsylvania Gaming Control Board gave FanDuel’s parent company, Betfair Interactive US LLC, what the state calls a Conditional Sports Wagering Operator License. It gives FanDuel a green light to begin preparing to open its business.
FanDuel is partnered with Boyd Gaming’s Valley Forge Casino Resort in King of Prussia, Pennsylvania. The partnership is for both online sports betting and the brick-and-mortar book. The casino is located less than 20 miles from downtown Philadelphia. The Philly area is home to four retail sportsbooks already.
Valley Forge was approved for sports betting in December, but its partner had to wait a few more months. The casino applied for its sports betting permit, which cost it $10 million, in mid-November. It was the sixth casino in the state to apply for sports wagering.
Valley Forge also previously secured approval to offer online casino gaming, to be offered in partnership with the likes of GAN, IGT, and GVC.
Timeline for mobile sports betting
While the FanDuel sportsbook at Valley Forge is expected to open in April, the launch of the online product isn’t expected until June or July. That goes for all other operators, as well as the state’s online casinos. A recent Wire Act opinion by the federal government has delayed Pennsylvania’s plans.
FanDuel already operates a regulated daily fantasy sports product in the Keystone State.
In New Jersey, FanDuel operates a retail and online sportsbook with the Meadowlands Racetrack.
In January in the Garden State, the Meadowlands operation generated just over $7 mm in revenue, about 37% of the state’s sports betting market. The market share was tops in the state, but it was about the same revenue generated by Resorts Casino in Atlantic City, which partnered with FanDuel rival DraftKings.
Other approvals from the hearing
In addition to the anticipated FanDuel approval, the PGCB gave Greenwood Gaming approval to have a sportsbook at its Valley Forge Turf Club, which is an off-track betting parlor. That property is located near Boyd’s Valley Forge casino, but they are not affiliated with each other.
Greenwood Gaming is the parent company of Parx Casino outside Philadelphia. The Valley Forge Turf Club book, which could open in a matter of weeks, would be Greenwood Gaming’s third brick-and-mortar sports betting location in the state.
GAN plc and NetEnt Americas, LLC were also approved for Interactive Gaming Manufacturer Conditional Licenses. The former is seeking to be involved with the online gambling business of Parx and Valley Forge Casino, while the latter will do business with Presque Isle Downs, Parx, Hollywood Casino at Penn National, and presumably others in time.
Another component of the 2017 gambling expansion law that allowed for sports betting and online casino gambling is truck stop video gambling. On Wednesday, regulators gave Love’s Travel Stops & Country Stores conditional approval, the latest company approved for the activity.
It’s not known when truck stop gambling will commence in Pennsylvania.