On the heels of finalizing the acquisition of a trio of casinos in Blackhawk, Colorado and gaming company, Twin River Worldwide Holdings, Inc. (NYSE: TRWH), has now announced separate market access partnership deals with FanDuel Group and DraftKings, Inc.
The new agreements with the Rhode Island-based casino owner and operator allows sports fans in the western U.S. state access to award-winning sportsbook products, according to the company’s Monday press release.
Twin River said in a statement that the two deals combine its nationwide experience in gaming and casino operations with “market-leading sports betting expertise and globally recognizable brands.”
Expanding footprints:
Including the Centennial State, the FanDuel Sportsbook platform will now be available in five states, including Pennsylvania, New Jersey, Indiana, and West Virginia, and is the sixth state to offer the DraftKings’ Sportsbook platform. The DraftKings Sportsbook mobile app is currently available in New Jersey, Indiana, New Hampshire, West Virginia and Pennsylvania.
The deals are contingent upon the adoption of regulations and the necessary gaming licenses being secured by the parties.
On Friday, Twin River announced that it had completed the $51 million acquisition of Mardi Gras, Golden Gulch and Golden Gates casinos in Black Hawk, Colorado. Those acquisitions came with the right to three sports gaming licenses, with the third to be retained by Twin River for future use.
The three venues are located in close proximity to one another along a half-mile strip of casino and casino-hotel properties in the historic mining town founded in 1859 and together contain a combined 36,000 sq ft of gaming space.
Unmatched sportsbetting experience:
President and Chief Executive Officer for Twin River, George Papanier, used an official press release to comment on the recent tie-up…
“Obtaining the right to three sports gaming licenses in Colorado will expand our footprint in the state well beyond our Arapahoe Park racetrack and off-track betting network.
“These newly-formed partnerships with DraftKings and FanDuel allow us to provide an unmatched sports betting experience to Colorado, not only with their mobile betting access, but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos.”
Real-time gaming opportunities:
Also commenting on the agreement, Chief Business Officer for DraftKings, Ezra Kucharz, added…
“Coast to coast, DraftKings is committed to providing states across the country with the ultimate experience in legal sports betting.
“Twin River is committed to providing exciting, real-time gaming opportunities, and we look forward to working alongside them to introduce Colorado sports fans to our award-winning product.”
Lastly, FanDuel Chief Executive Officer, Matt King, said…
“Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting.
“Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”
Voter referendum:
On November 5, 2019, Proposition DD passed allowing for legalizing sports betting in Colorado, however, under state law, the earliest bets could take place is May 1, 2020.
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