DraftKings Sportsbook Fast-Tracks Illinois Access With Casino Queen Deal
DraftKings is gearing up to debut in Illinois after teaming up with the Casino Queen property in East St. Louis, according to a June SEC filing. While the specific launch date has not been confirmed, DraftKings is expected to make a big impact in the Illinois sports betting industry.
DraftKings confirmed their plans to work with the Illinois Gaming Board and Casino Queen to bring their legal sports betting product to Illinois.
The SEC processing requires that the business access agreement remains valid for a duration of 5 to 10 years. Moreover, DraftKings, inspired by Illinois Governor JB Pritzker’s executive order allowing customers to register from home, is eager to expedite the launch of its product.
Casino Queen, along with six other Illinois casinos, has received approval for a four-year sports betting master license. The additional casinos granted licenses are:
- Alton’s Argosy Casino
- Casino Grand Victoria
- Aurora Hollywood Casino
- Hollywood Casino in Joliet
- Des Plaines Rivers Casino
- Game Par-A-Dice Lodge
avoiding the penalty box, the & ldquo,
By forming a partnership, DraftKings is able to circumvent an Illinois law that was created to benefit physical casinos. Had DraftKings chosen to apply for a $20 million online license on its own, the approval process would have taken 18 months. In June of last year, CEO Jason Robins took to Twitter to voice his frustration with the law, implying that DraftKings is being unfairly singled out.
The approval of sports betting costs is a positive development, but the exclusion of DraftKings and FanDuel is akin to leaving Uber and Lyft out of ride-sharing plans. It’s disappointing that Illinois users will have to wait 18 months before having access to the best options available.
On June 2, 2019, Jason Robins posted a tweet.
Due to a clever solution, DraftKings can now launch in the Illinois market ahead of schedule, but they are required to share a portion of their revenue with Casino Queen. As per branding regulations, Casino Queen must be prominently displayed on DraftKings’ website and app. This may result in a name change to “DraftKings Casino Queen Sportsbook” or “Casino Queen Sportsbook powered by DraftKings”.
Illinois rivals
At present, BetRivers stands as the sole live betting platform in Illinois, with potential competition from BetMGM on the horizon. While FanDuel has not yet finalized an agreement for exposure in the state, it is expected that they will do so in due course. However, DraftKings seems to be leading the charge in entering the Illinois market ahead of FanDuel, potentially securing a major victory for the former.
DraftKings now offers betting in seven states, including Illinois, the third largest state in the US to legalize sports betting. This makes Illinois an attractive market for major players in the industry.
Eilers & Krejcik Gaming, a research firm, are collaborating on projects that could generate $1 billion in annual sports betting revenue for Illinois.
As reported by Legal Sports Report, DraftKings is currently undergoing regulatory testing and is expected to launch online shortly after the completion of the process in the coming weeks.
With the anticipated return of MLB, NBA, DraftKings, and NHL in July, it is recommended that they resume operations in Illinois promptly. Since the length of Pritzker’s remote sign-up rules is unknown, it would be advantageous for Illinois to allow registration from home without delay.
Even without sports, DraftKings’ stock has increased since going public. It will be interesting to see how the return of sports affects their business in Illinois and where their stock goes from here.
Related Posts
