FanDuel, Penn National Gain Event Wagering Licenses in Arizona
FanDuel and Penn National Gaming both have gained event wagering licenses for Arizona sports betting, according to the informed sources. Both operators received the sports betting licenses late last week, with FanDuel acquiring a daily fantasy sports (DFS) license also.
Both sportsbooks were licensed as “designees” while their local partners were licensed as operators.
FanDuel had applied with the state regulators to bring sports betting and DFS through its partner the Phoenix Suns – the professional basketball team based in Phoenix. The New York-based operator is able to launch DFS in the Copper State as of Saturday.
Penn National inked a deal with the Phoenix Raceway – the motorsport track currently owned and operated by NASCAR – and plans a digital entry through the Barstool Sportsbook first.
Earlier this month, the Pennsylvania-based casino company entered into a $2 billion deal to purchase Toronto-based Score Media and Gaming, which owns theScore.
FanDuel, Penn National Can Begin Signing Up Customers Saturday
The Arizona Department of Gaming (ADG) is set to launch operators that are ready to kickstart the new industry on Sept. 9, the opening day of the National Football League season. Both FanDuel and PNG can start marketing and signing up customers Saturday, according to the department’s website.
FanDuel – a Flutter Entertainment-owned subsidiary company – plans to launch a mobile sportsbook and open a retail location at the NBA team’s Footprint Center. The company had indicated it would launch mobile operations as soon as possible, and retail betting will follow.
The PNG has also the same plans.
FanDuel, PNG Luckiest So Far…
FanDuel and Penn National are among six operators that previously struck partnerships with the Copper State’s sports teams/franchises. BetMGM, Bally’s, Caesars, and DraftKings are other leading sportsbooks that partnered with professional teams/franchises. None has announced to have received a license.
The ADG received 10 applications from sports teams/franchises last week, according to the department. One application was rejected, according to a source.
However, that team or franchise is not among the major four sports, the PGA or NASCAR.
The following stakeholders/partners now await their licenses for Arizona sports betting:
- Bally’s and Phoenix Mercury
- BetMGM and Arizona Cardinals
- Caesars and Arizona Diamondbacks
- DraftKings and TPC Scottsdale
How Have We Reached Here?
Arizona sports betting, which was legalized in April, allocated 10 event wagering licenses for the state’s professional sports franchises, and 10 for the state’s tribal casinos.
The approval of more applications is likely to be announced later this week, or next.
With 16 tribal applications, the ADG has to huge task to award the 10 available tribal licenses. Last week the department announced that more than 10 tribal applications qualify the criteria.
Now the department has Aug. 27 to review the applicants and allocate the licenses. The secret proceeding, which did not reveal applicant identities, is because of “statutory confidentiality obligations.”
Who’s the Operator That Failed?
Of the 10 licenses dedicated to professional sports organizations, at least one sports entity could not make it. According to certain obligations, the ADG has not named that entity. But the failed applicant is not among the four major sports organizations, the PGA or NASCAR.
But there are guesses.
The NHL’s Arizona Coyotes have yet to ink a sports betting deal with an operator. The city of Glendale recently said it will not renew the hockey team’s least following the 2020-21 season.
However, the team said in a recent letter to season-ticket holders that it’s committed to staying in the metro Phoenix area.
A few operators – BetMGM and Caesars – have multiple sports betting deals in Arizona.