DraftKings has entered into a market access agreement with Casino Queen in East St. Louis, Illinois that enables the online sports betting provider to enter the state’s newly opened betting market.
The recent partnership with the land-based casino is a bypass of state law that has been designed and passed to prevent DraftKings and its rival FanDuel from operating in Illinois for another 18 months.
The market access agreement was signed in early June, according to a recent filing from the SEC. Sportico published the story for the first time last Tuesday.
The partnership has existed for 5-10 years and includes a sports betting app and a sports betting retail book at Casino Queen. The venue receives one Unspecified share of DraftKings’ net sales.
DraftKings confirmed the deal on Tuesday and said it “We look forward to working with the Illinois Gaming Board and Casino Queen to bring our legal sports betting product to Illinois.”
On April 28, a DraftKings company – Crown IL Gaming LLC – applied for a license to manage sports betting services. This emerges from a May update on the Illinois Gaming Board website.
Casino Queen was one of the seven casinos that received licenses for sports betting for four-year-old masters in June.
When will DraftKings go live in Illinois?
The partnership between DraftKings and Casino Queen gave the sports betting provider a lead over its arch-rival FanDuel. The latter also looked for workarounds for the Illinois law that would enable him to enter the state sports betting market immediately instead of waiting 18 months for a purely online license.
FanDuel was reportedly in talks with Acquire Fairmount Park in Collinsville, but nothing confirmed yet.
It is not yet known exactly when DraftKings plans to launch its sports betting product in Illinois. According to recent reports, the company is go through an official test process and hopes to be able to go live with digital sports betting in the next few weeks.
As already mentioned, the partnership between DraftKings and Casino Queen enables the betting provider to launch its platform much earlier than originally thought. Illinois legislation passed the sports betting law last summer, but it included a so-called “penalty box” requirement that only online operators would be required Wait 18 months after the State Gaming Board issued the first sports betting license to operate in Illinois.
The regulation was specially developed to sanction DraftKings and FanDuel as both operators offered daily fantasy sports in Illinois for years. The practice was illegal, according to Attorney General Lisa Madigan’s 2015 statement.
The Illinois Gaming Board issued its first sports betting licenses in June, which means that DraftKings and FanDuel would have been able to launch a standalone online product not earlier than the end of 2021. Under the Illinois law, the state regulator will offer three purely online sports betting licenses at $ 20 million each.
BetRivers, the only operational online betting platform in Illinois, went live in June. State sports fans should have waited longer to be able to place bets on their desktop and cell phones, but Illinois Governor J.B. Pritzker signed an implementing regulation last month that temporarily lifted a provision from the state’s betting law Personal registration required for digital betting.
The order was triggered by the nationwide closure of stationary venues in the face of the corona virus. Governor Pritzker confirmed last week that casinos and other non-essential companies would be able to do this Reopening July 1st. Casinos will be 50% full.
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