DraftKings ‘thrilled’ by Kansas opportunity as launch date looms

DraftKings

DraftKings has cited “an especially exhilarating time of year” for a sports wagering debut, as the group stands poised to launch its online sportsbook in Kansas tomorrow as part of a soft launch.

This move, which is subject to the receipt of necessary regulatory approvals, comes in partnership with Dodge City’s Boot Hill Casino and Resort which will disclose plans for a physical location “in the near future”.

This follows a November 2021 partnership agreement between the operator and BHCMC, a subsidiary of Butler National, manager of Boot Hill Casino & Resort, to bring the DraftKings Sportsbook to Kansas.

The state will commence full activity one week after its soft launch gets underway on September 8, which will come at “one of the busiest times of the year for sport betting” via the start of the 2022 NFL and college football seasons.

Upon launch, Kansas will become the 18th US state in which DraftKings offers its online sportsbook, which complements a total sports betting footprint that spans 19 states and Ontario, Canada, inclusive of retail-only jurisdictions.

Furthermore, the company also noted that revenue and adjusted EBITDA guidance issued earlier in the month includes current live state, and excludes any potential uplift that could be felt by this impending launch.

Alongside a second quarter performance update, DraftKings raised its guidance for the full-year, with revenue now anticipated to reach $2.08bn-$2.18bn from the previously expressed $2.05bn-$2.17bn. This would equate to year-on-year growth of 60 per cent to 68 per cent.

The company also improved its adjusted EBITDA expectations to a loss of between $765m and $835m from a loss of between $810m and $910m.

“We’re thrilled to have the opportunity to deliver our award-wining products to Kansas sports fans for the 2022 NFL and college football seasons,” said Matt Kalish, DraftKings Co-Founder and President, DraftKings North America. 

“It’s an especially exhilarating time of year, and we are excited for eligible Kansans to be able to get in on all the action through DraftKings’ seamless and responsible sports betting experience.”

Earlier this month, Kansas Governor Laura Kelly signed Bill 84, which will see the region’s four-state owned casinos officially begin accepting in-person and online sports wagering.

Moreover, this legislation also allows the negotiation of a new or existing gaming compact regarding sports wagering with tribes across the region. These venues will be authorised to launch as soon as they are ready.