Last week was an eventful one for Boyd Gaming, as our Company announced two partnerships aimed at positioning us for future leadership as sports betting and online gaming expand across the country.
Leading the way was Boyd Gaming’s strategic partnership with FanDuel Group – a leading sports-betting and entertainment company -- to pursue sports betting and online gaming opportunities across the nation. Under terms of the agreement, FanDuel will provide Boyd Gaming with the necessary technology to operate Boyd Gaming-branded mobile and online gaming products – including sports-betting, casino gaming and poker – in states where Boyd Gaming is licensed, and where permitted by state law. In turn, FanDuel will have the opportunity to offer FanDuel-branded mobile and online gaming in those states as well.
The partnership covers nine current and future Boyd Gaming states: Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.* However, the list of potential states available to Boyd Gaming and FanDuel grew larger last week, thanks to a separate deal between Boyd Gaming and MGM Resorts International.
Under a market-access agreement between our two companies, Boyd Gaming agreed to provide MGM Resorts with access to offer online and mobile gaming in the states where Boyd Gaming holds a license, but MGM does not. In exchange, MGM agreed to provide Boyd Gaming (and FanDuel) with access to five new states: Maryland, Massachusetts, Michigan, New Jersey and New York.
In all, the deal could expand Boyd Gaming’s future digital footprint to 15 states – representing about 36% of the population of the United States.
Despite the flurry of activity around online and mobile gaming, our Company didn’t forget about the opportunity presented by sports betting in traditional casinos. And on August 3, Boyd Gaming took its first step into sports betting outside of Nevada, when it opened sports books in Mississippi at IP Casino Resort Spa in Biloxi and Sam’s Town Hotel & Gambling Hall in Tunica.
The sports-betting operations are Boyd Gaming’s first sports books outside of the state of Nevada, with Sam’s Town bringing sports betting to the Tunica market for the first time.
“The debut of our sports books in Mississippi, together with our strategic partnership with FanDuel Group, are important milestones for our Company as we begin to participate in the expansion of sports betting across the United States,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “Expanded sports betting is an exciting growth opportunity, offering us another way to diversify our business and expand our appeal – and Boyd Gaming is well-positioned to be a leader in this emerging business.”
Note: The agreement between Boyd Gaming and FanDuel did not include Nevada.