DraftKings has lauded a ‘landmark’ collaboration with the Mashantucket Pequot Tribal Nation which will set the stage for online sports betting access, ahead of the anticipated launch of legal sports betting in Connecticut.
Subject to necessary legislative and regulatory approvals, the alliance also sees DraftKings become the official daily fantasy sports partner of Foxwoods Resort Casino.
“This is a landmark deal in collaboration with the Mashantucket Pequot Tribal Nation as well as a critical next step to bringing America’s top-rated sportsbook app to sports fans in Connecticut,” commented Matt Kalish, co-founder and president of DraftKings North America.
“The national expansion of regulated sports betting is among our top strategic priorities. DraftKings today is live with mobile sports betting in 10 states, more than any other operator in the US, and teaming up with the tribe will allow us to extend our reach even further.”
Under longstanding agreements with Connecticut, in exchange for 25 per cent of their slot revenue, the Mashantucket Pequot and Mohegan Tribes maintain the exclusive rights to operate gaming within the state’s borders, an arrangement that has generated over $8bn in revenue for the state since its inception.
Upon state legalisation and execution of an amendment to the tribal/state agreement, DraftKings and the Mashantucket Pequot Tribe will be poised to launch sports betting in Connecticut. Online gaming and sports betting are projected to generate $175m in revenue for the state over five years.
“Partnering with DraftKings, the most prominent name in sports betting, reinforces the Mashantucket Pequot Tribe’s position as a leader in the gaming and entertainment industry,” stated Rodney Butler, chairman of the Mashantucket Pequot Tribe, which owns and operates Foxwoods.
“We’ve proven our ability to shape the future of gaming time and time again, and now we’re ready to drive sports wagering and online gaming for the state of Connecticut. Working through the tribal gaming compacts, we will help bolster our economy with much-needed revenue and virtual entertainment.”
DraftKings, which will become Foxwoods’ first-ever daily fantasy sports partner, will expand its footprint in New England and the Connecticut, New Jersey and New York Tri-State area as a result of the deal.
“DraftKings is a pioneer in the US digital sports entertainment and gaming market,” added Jason Guyot, interim CEO and president for Foxwoods Resort Casino. “Offering daily fantasy sports allows us to bring a new type of compelling and interactive online experience to our passionate sport fans.
“By combining Foxwoods’ 29-year gaming legacy with DraftKings’ deep digital expertise, we’re well positioned to continue leading gaming advancements in the region and beyond.”