DraftKings has secured the latest stage of its US expansion, after the sports betting and gaming firm secured a market access agreement with Kansas’ Boot Hill Casino and Resort.
The deal with the property, managed by BHCMC, a subsidiary of Butler National Corporation, is subject to sports betting legislation and regulations being adopted, as well as the receipt of all applicable licenses and approvals.
“As manager for Boot Hill Casino & Resort for the Kansas Lottery, we are pleased to work with DraftKings to bring first in class mobile sportsbook to Kansas,” stated Clark Stewart, chief executive officer of Boot Hill Casino & Resort.
“DraftKings is a leader in this fast growing industry and will bring a trusted, experienced mobile sports betting application to sports fans in Kansas, when the law allows.”
DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the US, pursuant to regulations, in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.
“As we continue our quest to expand our mobile sportsbook footprint to every state in the US, we are eager to begin working with Boot Hill Casino & Resort,” commented Jeremy Elbaum, senior vice president of business development at DraftKings.
“We look forward to the opportunities that lay ahead and remain optimistic that Kansas lawmakers will enact common sense legislation that will benefit the state and its constituents.”
Earlier this month, DraftKings increased the midpoint of its revenue guidance for the year, in addition to forecasting its 2022 expectations, as the group reflected on what it lauded as “a strong third quarter”.
Revenue during the quarter increased 60 per cent year-on-year to $212.81m (2020: $132.83m), which fell in-line with guidance previously provided during its second quarter earnings conference call.
However, net loss widened to $545m from the $395.66m recorded one year earlier, with adjusted EBITDA loss also growing to $313.6m (2020: $197m).