BOSTON & MASHANTUCKET, Conn., Dec. 07, 2020 (GLOBE NEWSWIRE) — DraftKings (NASDAQ: DKNG) and the Mashantucket Pequot Tribal Nation today announced they have entered into a multi-channel deal, setting the stage to deliver access for online sports betting ahead of the anticipated launch of legal sports betting in Connecticut, subject to necessary legislative and regulatory approvals. With this alliance, DraftKings will also become the official daily fantasy sports partner of Foxwoods Resort Casino.
Through this agreement, DraftKings, a leader in digital sports entertainment and gaming, will expand its footprint in New England and the Connecticut, New Jersey and New York Tri-State area.
“This is a landmark deal in collaboration with the Mashantucket Pequot Tribal Nation as well as a critical next step to bringing America’s top-rated sportsbook app to sports fans in Connecticut,” said Matt Kalish, co-founder and President of DraftKings North America. “The national expansion of regulated sports betting is among our top strategic priorities. DraftKings today is live with mobile sports betting in 10 states, more than any other operator in the U.S., and teaming up with the tribe will allow us to extend our reach even further.”
“Partnering with DraftKings, the most prominent name in sports betting, reinforces the Mashantucket Pequot Tribe’s position as a leader in the gaming and entertainment industry,” said Rodney Butler, chairman of the Mashantucket Pequot Tribe, which owns and operates Foxwoods. “We’ve proven our ability to shape the future of gaming time and time again, and now we’re ready to drive sports wagering and online gaming for the state of Connecticut. Working through the tribal gaming compacts, we will help bolster our economy with much-needed revenue and virtual entertainment.”
DraftKings will also become Foxwoods’ first-ever daily fantasy sports partner, when launched on December 13, 2020, offering online promotions, contests and other integrated digital experiences to enhance fan engagement.
“DraftKings is a pioneer in the U.S. digital sports entertainment and gaming market,” said Jason Guyot, interim CEO and president for Foxwoods Resort Casino. “Offering daily fantasy sports allows us to bring a new type of compelling and interactive online experience to our passionate sport fans. By combining Foxwoods’ 29-year gaming legacy with DraftKings’ deep digital expertise, we’re well positioned to continue leading gaming advancements in the region and beyond.”
Under longstanding agreements with Connecticut, in exchange for 25% of their slot revenue, the Mashantucket Pequot and Mohegan Tribes maintain the exclusive rights to operate gaming within Connecticut’s borders — an arrangement that has generated over $8 billion in revenue for the state since its inception. Upon state legalization and execution of an amendment to the Tribal/State agreement, DraftKings and the Mashantucket Pequot Tribe will be poised to launch sports betting in Connecticut. Online gaming and sports betting are projected to generate $175 million in new revenue for the state over five years.
Since the overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA), DraftKings is now live with mobile and retail sports betting across the country in a total of 12 states, with New York and Mississippi currently only offering customers the retail sportsbook experience. In November, DraftKings entered Tennessee, marking the most recent sports betting state launch for the company with the goal of nationwide accessibility.