DraftKings to sue New York’s online sports betting license

Start spreading the news, New York, DraftKings is trying to come today.

In its second quarter report to shareholders today, Jason Robins, CEO of DraftKings has confirmed that the company is seeking an online sports betting license in New York City.

“In New York, the call for tenders for mobile sports betting was issued in July and we are ready to respond fully and in a timely manner. We look forward to the potential of offering mobile sports betting in New York City, ”Robins said on the call.

How will DraftKings work in online sports betting in New York?

It’s no surprise that the company is interested in entering the New York sports betting market, but DraftKings is one of the first companies to confirm that it is looking to license what could become the biggest. country’s sports betting market.

DraftKings currently operates a retail bookie at the del Lago Resort and Casino in the state.

Candidates will submit bids and each set will be awarded points by the Gaming Commission. Each application must include at least two platform operators proposed to be the front-end of the online sports betting program.

It is likely that DraftKings will submit an application to the gaming commission to serve as both a platform provider and a platform operator (a skin).

Applications must be submitted before August 9.

Will DraftKings pursue sports betting opportunities in Canada?

Robins also revealed the following during the Q2 call:

  • Robins noted that he viewed Canada in the same way as a US state that legalizes sports betting, except that the major sports betting operators are already integrated in Canada and offer parlay sports betting. Canada recently legalized single match betting and DraftKings will need to attract players from other operators across the country if it decides to enter the sports betting market.
  • DraftKings reported revenue of $ 298 million, a 320% increase from $ 71 million during the same period in 2020.
  • In addition to New York, Robins noted that DraftKings had the option of participating through direct market access or licensing in Arizona, Connecticut, Louisiana, Maryland and Wyoming. Including New York, the six states represent 13% of the US population and bring the percentage of the population with legalized mobile sports betting to 39%.
  • DraftKings raises its revenue forecast for fiscal 2021 from a range of $ 1.05 billion to $ 1.15 billion to a range of $ 1.21 billion to $ 1.29 billion, which is equivalent to year-over-year growth of 88% to 100%.
  • All projections assume that all announced professional and college sports calendars are going as planned and that DraftKings will continue to operate in the states they currently live in.

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