FanDuel Partners With Delaware North in West Virginia

Although FanDuel already operates in the West Virginia market, the company will now have an additional partner, hospitality company Delaware North, which will give FanDuel even further exposure in the Mountain State.

Respected Alliance

Delaware North is a food service and hospitality company headquartered in Buffalo, New York, that has managed to stay below the radar in the gaming world, considering the size of its operation. The company, led by Jeremy Jacobs, owns the Boston Bruins and their home, TD Garden, as well as a variety of gambling and racing operations that include hotels, restaurants, and shops.

In West Virginia, Delaware North owns Mardi Gras Casino & Resort in Cross Lanes, which is granting FanDuel access as a partner to the West Virginia market. However, FanDuel has been operating in West Virginia for several years through its partnership with the Greenbrier Resort in White Sulphur Springs, West Virginia. This partnership will continue despite FanDuel’s new agreement with Delaware North.

Transition from WynnBet to FanDuel

Speaking of which, the hospitality company had a deal with WynnBet until it shuttered its U.S. online sports betting operations, maintaining only retail operations in Boston and Nevada. It is unclear whether FanDuel will replace the Mardi Gras brand at its retail location or how extensive its online reach will be courtesy of this partnership.

Delaware North’s Chief Interactive Gaming Officer, Lee Terfloth, was effusive in his praise for FanDuel, stating, “We love working with FanDuel and are very proud to be partnered together in West Virginia. This partnership represents the best of what Delaware North strives for, bringing trusted, innovative experiences to our customers – and FanDuel is an incredible ally in that mission.”

“Delaware North has been a respected name in gaming and hospitality for decades, and they are an ideal partner as we continue to operate in West Virginia,” said FanDuel’s Business Development Senior Vice President, Jonathan Edson.

FanDuel Expands Into Futures Market Trading

Last month, FanDuel announced a partnership with the CME Group to launch event-based contracts for U.S. customers, pending the Commodity Futures Trading Commission’s (CFTC) regulatory review. Once approved, FanDuel and CME Group will comprise a joint venture that operates a non-clearing futures commission merchant (FCM) platform.

“Partnering with CME Group will unlock our ability to bring even more new and engaging products to FanDuel’s fast-growing customer base,” said Amy Howe, CEO of FanDuel Group. “We believe there is potentially a wide audience for trading event-based markets, and we want to provide a platform that allows our customers to engage in this activity. We are excited to be partnering with CME Group to design new and engaging products, combining innovation with best-in-class regulatory compliance and consumer protections.”

Kalshi’s Move Into Sports Event Contracts

Kalshi, a leader in the futures derivatives market, has recently shifted from commodities trading to the outcome of political races and into the sports betting realm via sports event contracts, which are thinly disguised sports bets. This has drawn the ire of state gaming agencies nationwide, as Kalshi operates without any state licensing and has argued successfully in federal court that it is governed by the Commodity Futures Trading Commission.

Sportsbooks like FanDuel have been reluctant to partner with these platforms to avoid fracturing relationships with the state gaming agencies. However, many are doing just that but have steered away from the sports event contracts trading for now and limit it to more benign trades.