On July 16, 2018, a deal was signed between DraftKings Inc. and del Lago Resort & Casino to establish a sportsbook facility in del Lago’s location in Waterloo, New York. The state has not decided on any regulations to sports betting thus far, but with this partnership, del Lago is confident that it can readily offer sports betting once the rules have been put in place.
Since its inception, del Lago has enjoyed a give-and-take relationship with the Finger Lakes Area, taking advantage of the high volume of tourism, while at the same time adding to it as droves of gamers and vacationers come from all over the state to enjoy the establishment’s amenities.
However, del Lago’s management had recently been pursuing tax breaks to ease the financial burden on the operation of the casino. This sports betting deal with DraftKings would provide a substantial increase to its revenue.
del Lago Resort & Casino
Enter Boston-based entertainment platform DraftKings. With their state-of-the-art sports tech, DraftKings have provided innovative ways for sports fans to get closer to their favorite teams, athletes, and events since 2012. Since their founding, DraftKings had expanded to offer 11 sports across 8 different countries, including the US, UK, and Canada. Between their assets and track record, DraftKings seems well-equipped to give del Lago’s casino the boost it needs to remain competent; especially in the advent of the New York Gaming Commission releasing legal provisions on online gambling.
The Legal Climate Surrounding Sports Betting in New York
The New York Gaming Commission has stated in May of 2018 that regulations for sports betting across the state are in development, and the Commission is set to meet again next week to discuss further steps.
Once the Gaming Commission decides upon regulations on online betting, DraftKings intends to launch a mobile app for sports betting, building upon their experience in daily fantasy sports contests. They’re also going to come out with a web-based platform to go along with the app.
In a statement, Brent Stevens, co-chairman of del Lago and CEO of Peninsula Pacific said
Our partnership with DraftKings combines one of the most recognizable brands in sports with the top resort and casino brand in New York and represents an incredibly important moment for gaming in the Upstate region. We look forward to working closely with DraftKings to create a dynamic, engaging and innovative sports betting experience for New Yorkers.
