June 20, 2024

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FanDuel’s CFO Hesitant To Discuss The Operator’s Efforts In Nevada

2 min read

David Jennings, CFO of FanDuel, maintained a tight-lipped stance in response to Nevada Gaming Control Board inquiries regarding the company’s intentions to establish a presence in the state during a regulatory hearing. His circumspect response was that no concrete decision had been rendered.

FanDuel welcomed Jennings in 2022. He is assigned to the corporate headquarters situated in New York.

The preliminary obstacle preventing the NGCB from approving the online sportsbook operator’s certification in Nevada has been surmounted. The document will subsequently be transmitted to the Nevada Gaming Commission (NGC). Flutter Entertainment of Ireland holds a 95% ownership stake in FanDuel, while Boyd Gaming based in Las Vegas holds the remaining 5%.

At this time, the organization lacks substantial expertise regarding the Nevada online sportsbook industry. In lieu of wagering facilities, the Boyd Gaming sportsbook at Fremont Hotel and Casino provides FanDuel promotions and odds.

Both FanDuel and its competitor, DraftKings, believe that Nevada offers tremendous financial potential for their respective enterprises; however, Nevada has remained unattainable. The businesses amassed considerable traction in the daily fantasy sports (DFS) industry. Nevertheless, this is completely forbidden in Nevada, much as iGaming. Both companies are widely recognized as industry leaders in the field of certified online casinos.

In accordance with Nevada regulations, sportsbook operators are required to maintain a connection with a physical casino operating within the state. By assuming control of Golden Nugget Online Gaming (GNOG), DraftKings could potentially meet this requirement. Tilman Fertitta, not DraftKings, is the owner of the casino.

The prevailing speculation surrounding FanDuel’s potential expansion into Nevada is that it is a distinct possibility. However, this is only feasible if Boyd decides to rebrand the Boyd Sports mobile application and have FanDuel operate the application.

FanDuel has offices in six locations across the United States, but none are located in Nevada, as stated on its website.

Recently, DraftKings established a state-of-the-art facility in Southwest Las Vegas, directly across from the Durango casino.

Builtin ranked DraftKings among the most entrepreneurial companies in Las Vegas in January. In Nevada, the gaming industry occupies the highest position in terms of private sector employment, with DraftKings joining the eleven companies from the vertical that comprise the list.

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