West Virginia is soon to welcome DraftKings Sportsbook.
Penn National Gaming, the operator of Hollywood Casino at Charles Town Races, has entered into a licensing agreement with DraftKings, the top revenue-generating company for online sports betting in New Jersey.
Subject to regulatory approval, DraftKings is set to operate an online sportsbook in West Virginia, potentially becoming the state’s inaugural legal online sports betting platform. DraftKings has already submitted an application for a provider license in the state.
At present, sports betting is offered at three out of the five casinos in the state. These establishments are the Hollywood Casino, Mountaineer Casino, Racetrack and Resort, and The Casino Club at The Greenbrier.
Bigger and better things in WV
In March, West Virginia took the significant step of legalizing sports gambling. However, it required some waiting before they could kickstart the process. Thankfully, the federal ban was lifted in May, paving the way for progress. By August, the Hollywood Casino made history as the inaugural legal sportsbook in the state, opening its doors to accept bets.
With the implementation of this new agreement, the state will witness an unprecedented surge in legal sports betting.
John Finamore, Sr. Vice President of Regional Operations for Penn National Gaming, expressed his delight in assisting with the introduction of DraftKings to West Virginia. He believes that the state will greatly profit from DraftKings’ exceptional reputation and proficiency in offering customers a top-notch online sports betting experience.
The objective is for DraftKings to resume its operations in New Jersey seamlessly. The digital sportsbook generated a revenue exceeding $7 million in November, accounting for almost 50% of the state’s total revenue from online gambling.
DraftKings expanding
After its launch, West Virginia will become the second state to offer DraftKings’ legal online sports betting. Additionally, DraftKings has established retail sportsbook locations at Resorts Atlantic City in New Jersey and the Scarlet Pearl Casino Resort in Mississippi.
Based on its current success, the online book and mobile app should closely resemble the one in NJ. DraftKings WV will offer live, in-game betting, a wide range of sports to wager on, including major and niche international and U.S. sports. Additionally, new features such as sportsbook pools for NFL, NBA, and NHL will be introduced, as mentioned in a press release.
FanDuel Sportsbook, one of DraftKings’ main rivals, currently operates a physical store at The Greenbrier in the state. However, they have yet to launch an online or mobile app. Being the first to do so could be crucial for DraftKings in maintaining the momentum of its initial successes.
Matt Kalish, Chief Revenue Officer and co-founder of DraftKings, expressed excitement about collaborating with Penn National Gaming to introduce their online sportsbook product in West Virginia. He eagerly anticipates serving sports fans in the Mountain State and expanding on the tremendous success they have achieved in the New Jersey market. With a remarkable 90 percent of sports bettors returning to play after trying DraftKings Sportsbook, Kalish is confident that they can provide the ultimate gaming experience for consumers in West Virginia.
DraftKings’ position as the frontrunner in legal online sports betting in West Virginia may be cemented through this licensing agreement with Penn National, but only time will reveal the true outcome.