The FanDuel Group, owned by Paddy Power Betfair, plans to launch an online casino and an online sportsbook in time for the start of the NFL season. GAN and IGT will provide the technology for both products. The news comes on the heels of the new FanDuel sportsbook that went live in New Jersey this past weekend.
FanDuel will offer the two new products through New Jersey partnerships that allow the DFS site to utilize existing licenses. FanDuel Sports Betting is offered through the license of the Meadowlands Racetrack while the FanDuel online casino will be licensed through the Golden Nugget Casino. The company hopes to leverage the FanDuel brand to acquire marketshare in these two quickly growing areas.
JUST IN: FanDuel Group confirms it will open its 5,300 square foot sports book at the Meadowlands Race Track in New Jersey on Saturday right by MetLife Stadium, will take bets in all major sports. pic.twitter.com/TzEicPGQMx
— Darren Rovell (@darrenrovell) July 12, 2018
Dermot Smurfit, CEO of software provider GAN, says the company is on track. “Online sports betting ‘go-live’ preparations for FanDuel are well advanced and we remain confident in launching integrated sports betting alongside our existing internet casino later this year.”
Huge Growth on Tap for NJ Sportsbooks and Casinos
Sports betting got off to a strong start during June in New Jersey when the new market generated over $16 million in wagers despite going live during the middle of the month and only being available at the Borgata, Ocean Resort, Monmouth Park and the Meadowlands. New Jersey
Meanwhile, online gambling continues to break records in New Jersey, hitting $25 million for the first time in March. It is estimated that online gambling now provides 10% of overall revenue to Atlantic City casinos.
Despite the name recognition of FanDuel, the brand will have some stiff competition. When Ocean’s Resort Casino went began offering an online casino in New Jersey earlier this week, they became the 27th licensed online gambling brand in NJ. On the sportsbook front, fourteen sports betting licenses will be available from the state’s nine casinos, three racetracks and two former racetracks.
With the NFL season less than two months away, we can be sure that FanDuel will be far from the last brand to begin offering online an online casino and sportsbook.