The newly formed FanDuel Group has its heart set on more than sports betting.
According to a source close to the matter, FanDuel plans to apply its branding to an online casino in New Jersey — offering slot machines and table games.
How quickly things change, hm?
Not so very long ago, daily fantasy sports sites FanDuel and DraftKings actively shunned all association to gambling. Now, both are charging headlong into sports betting, and FanDuel has ambitions in the casino space.
FanDuel, you may know, is owned by one of the largest bookmakers in the world.
Paddy Power Betfair recently acquired the site to serve as the face of its US operations, which include online gambling and horse betting platforms. Most notably for our purposes, the group operates the Betfair online casino in NJ.
PPB has plenty of sports betting tech at its disposal, so it seemed likely that the FanDuel brand and database of players were the key selling points. A press release from the buyers confirmed as much:
The transaction strengthens the Group’s opportunity to target the prospective US sports betting market through the addition of a strong brand, large existing customer base and talented team.
Note the mention of the sports betting market, specifically.
Then-CEO Kip Levin subsequently indicated that Betfair was “very likely” to use the FanDuel brand in the US, and that’s already coming to fruition with respect to sports betting. The first FanDuel Sportsbook is already open in NJ, and the group has partnerships in place across West Virginia and New York, too.
The extent of the rebranding became clear earlier this month when Betfair US announced it was changing its name to FanDuel Group. As it turns out, sports betting was only part of the plan. Levin indicated that rebranding the Betfair online casino in NJ was also a possibility.
That seems to be what’s happening here. While PPB will likely retain the TVG brand for its horse betting site, all other US-facing platforms will be FanDuel platforms going forward. Betfair’s name will remain on the casino product for a short time before the new moniker takes hold.
The timeline for the transition sounds more like a few weeks than a few months down the line.
PPB operates robust platforms in other jurisdictions, but FanDuel Group has secured its own deals with third-party suppliers.
IGT is tasked with providing the platform to deliver PPB’s bookmaking services to FanDuel’s sportsbooks.
FanDuel will leverage Paddy Power Betfair’s leading pricing, trading and risk management capabilities, which have been integrated into the IGT platform, along with a bespoke user interface to offer a best-in-class consumer experience.
Conveniently, IGT is an online casino supplier, too.
As part of the PPB sale, FanDuel Group also inherited partnerships with GAN and Golden Nugget, the two entities responsible for what is currently the Betfair online casino. GAN is another leading tech supplier, equipped to handle both casino games and sports betting.
According to CEO Dermot Smurfit, GAN will have a hand in both verticals for FanDuel, providing the logistics to power online casino and sportsbook operations in conjunction with PPB and IGT — a veritable quilt of a partnership.
Expect to see the first FanDuel online casino in New Jersey in the coming weeks.