DraftKings Sportsbook Fast-Tracks Illinois Access With Casino Queen Deal
DraftKings is headed to Illinois. The sports gaming giant has struck a partnership with the Casino Queen property in East St. Louis, according to a JuneSEC filing. We don’t know when it will launch yet, but DraftKings figures to be a major player in the Illinois sports betting market.
“We look forward to working with both the Illinois Gaming Board and Casino Queen to bring our legal sports betting product to Illinois,” DraftKings confirmed in a statement.
According to the SEC processing, the business access agreement will last between 5 and 10 years. And with regards to Illinois Governor DraftKings has a strong incentive to introduce its product as soon as possible thanks to JB Pritzker & rsquo’s executive order allowing customers to register from home.
A four-year sports betting master license has been approved for Casino Queen, & nbsp, along with six other Illinois casinos. The others are listed below:
- Alton’s Argosy Casino
- Casino Grand Victoria
- Aurora Hollywood Casino
- Joliet at the Hollywood Casino
- Des Plaines Rivers Casino
- Game Par-A-Dice Lodge
avoiding the penalty box, the & ldquo,
The collaboration enables DraftKings to circumvent an Illinois playing law intended to give brick-and-mortar casinos a head start. DraftKings would have had to wait 18 months for approval if it had only applied for a$ 20 million online license. DraftKings CEO Jason Robins expressed his displeasure with the rules on Twitter last June, and it appears that the company is being targeted by it.
While it’s encouraging to view sports betting costs approved, leaving out DraftKings and FanDuel is akin to putting Uber and Lyft out of ride-sharing plans. It is very disappointing that Illinois users won’t have access to the best choices for 18 months.
— Jason Robins (@JasonDRobins) June 2, 2019
DraftKings can provide the Illinois market earlier thanks to the workaround, but it will have to give Casino Queen an unspecified portion of its gross revenue. Casino Queen must be featured on DraftKings & rsquo, the website, and the app, according to branding guidelines. Therefore, it’s likely that we’ll see something similar to & ldquo, DraftKings Casino Queen Sportsbook, and / or a casino queen sportsbook powered by Draft Kings. & rdquo,
The only life website betting service in Illinois as of right now is BetRivers. Additionally, BetMGM might be approaching immediately. FanDuel hasn’t already reached an Illinois exposure agreement, but it appears likely that it will eventually. However, DraftKings seems to be on track to defeat FanDuel to the Illinois market, giving the original a significant victory.
Bets are now accepted by DraftKings in seven state. Only a hair behind Pennsylvania in terms of population, Illinois is the third-most populous state in the US to allow sports betting. Therefore, among the major players, it & rsquo is a highly sought-after market.
Eilers & amp, a research firm, and Krejcik Gaming & nbsp are developing projects that could eventually bring in$ 1 billion in annual sports betting revenue for Illinois.
DraftKings “is going through the regulatory testing process over the next couple of weeks and hopes to launch online shortly after,” according to our sister site Legal Sports Report.
With the anticipated return of MLB, the NBA, and DraftKings & rsquo, it would be in their best interest to begin operations as soon as possible in Illinois. soon July, among others, the NHL. As we don’t know how long Pritzker & rsquo, s remote sign-up rules will remain in effect, it may be in Illinois’ best interest to register from home as soon as possible.
Despite the lack of sports, DraftKings & rsquo’s stock price has increased since going public. If the teams return as planned, it will be interesting to see how it affects Illinois’ business share and where it goes.