Is FanDuel Returning To Las Vegas, Nevada?

nevada las vegas strip casinos
The Las Vegas Strip is seen devoid of traffic as the hotel-casino resorts were shut down during the novel coronavirus pandemic. David Becker/AFP

Nevada’s Gaming Control Board schedule has revealed that a significant player in the sports betting world is a part of their August meeting plans. It could be a returning FanDuel that finally returns to Sin City following a seven-year absence from the state.

FanDuel hasn’t officially revealed any plans for an imminent return to Vegas, and a company representative refused to comment on why they’re presented on August’s Nevada Gaming Control Board agenda. The preliminary hearing will commence this week, followed by a Gaming Commission meeting on August 25 that will finalize any approvals.

However, not everyone has been so tight-lipped about the situation. Boyd Gaming revealed their plans to open a retail FanDuel within the Nevada Independent report, as the location of the retail book is hinted to be at their Fremont property.

The retail sportsbooks will use the branding of FanDuel and the company’s oddsmakers, but the current Boyd staff members will remain.

Boyd on FanDuel

“We believe the FanDuel sportsbook would be a great addition to the Fremont and the downtown area, and we look forward to sharing more details following the receipt of required regulatory approvals,” a Boyd representative said.

As Fremont is currently undergoing renovations –expected for completion later this year– we could witness more casinos open alongside the retail sportsbook.

Boyd owns nine casinos in Las Vegas. The market-access arrangement between the two doesn’t involve Nevada, but Boyd does hold a 5% ownership of FanDuel, so an expansion doesn’t come as a surprise.

Boyd will be pleased with their stake in FanDuel, as the company should receive around a $30 million cash flow in 2022 with an uptrend in expected profits.

Complications with DFS in NV

FanDuel and DraftKings are yet to provide their sports betting services within Nevada. Post-PASPA laws and regulations prevented the two DFS giants from marking their territory in the region and continued to evolve elsewhere in the United States.

Both FanDuel and DK removed themselves from Nevada in 2015 following the requirement that daily fantasy sports would need a license to operate like their gambling company counterparts.

In addition, an in-person registration requirement impedes the Nevada sports betting scene.

FanDuel’s partnership with Boyd to open a retail sportsbook is crucial to future success in Nevada, mainly because of the foot traffic in and around Fremont.