DraftKings, Connecticut Tribe Reach Sports Betting Agreement
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DraftKings and the Mashantucket Pequot Tribal Nation are entering into an agreement to deliver online sports betting access ahead of sports betting being legalized in Connecticut. The deal across multiple channels is pending regulatory approval.
“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,” Matt Kalish, co-founder and president of DraftKings North America, said in a news release. “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 U.S., and teaming up with the tribe will allow us to extend our reach even further.”
DraftKings will also become the official — and first — daily fantasy sports partner of Foxwoods Resort Casino in Mashantucket, according to the news release. Dec. 13, which is Week 14 of the NFL season
Two tribes in Connecticut — the Mashantucket Pequot and Mohegan Tribal Nations — have long maintained they have exclusive rights to gaming in the state in exchange for 25% of their slots revenue. That has stalled any legislative action on sports betting.
Gambling currently exists at the tribal-owned Mohegan Sun and Foxwoods Casinos and has generated more than $8 billion in revenue for the state, the release said. Online gaming and sports betting are projected to generate $175 million in new revenue for the state over five years. Upon state legalization and an amendment to the tribal/state agreement, DraftKings and the Mashantucket Pequot Tribe say they will be poised to launch sports betting.
“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,” Rodney Butler, chairman of the Mashantucket Pequot Tribe, which owns and operates Foxwoods, said in the release. “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.”
More on DraftKings
DraftKings is now live in 12 states, 10 with mobile sports betting plus New York and Mississippi, which currently only offer retail sports betting. Last month, DraftKings entered Tennessee, the most recent sports betting state launch for the company.
In New Hampshire, DraftKings holds exclusive rights to online and retail sports betting.
“DraftKings is a pioneer in the U.S. digital sports entertainment and gaming market,” Jason Guyot, interim CEO and president for Foxwoods Resort Casino, said in the release. “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.”