DraftKings signs deal with Casino Queen to offer sports betting services in Illinois
Boston-based sports entertainment & gaming firm DraftKings has announced the signing of a multi-year partnership agreement with Casino Queen to operate a retail sportsbook as well as a mobile application in Illinois.
In documents filed with the US Securities & Exchange Commission (SEC), DraftKings stated that it has signed a partnership agreement with Casino Queen for a period of at least 5 years and no more than 10 years. The East St. Louis, Illinois-based casino also acknowledged that it has signed a deal to host a DraftKings retail sportsbook.
Confirming the signing of the partnership agreement, the sports entertainment & gaming firm said, “We look forward to working with both the Illinois Gaming Board and Casino Queen to bring our legal sports betting product to Illinois.”
The signing of the multi-year agreement with Casino Queen, provided the Illinois Gaming Board approves the licenses, is very crucial for DraftKings as without it the Boston-based sports entertainment & gaming firm would have been excluded from the promising market for at least one-an-a-half year. By getting an opportunity for offering retail sportsbook service through Casino Queen, the sportsbook operator would be able to offer its sports mobile application earlier than previously expected.
Illinois government legalized sports betting law in 2019 and started the process of issuing licenses in the first quarter of this year. The first operational sportsbook available in Illinois was Rush Street Gaming’s BetRivers. It became available with the opening of the Rivers Des Plaines on 9th of March, just a week ahead of the outbreak of COVID-19 pandemic that forced authorities to issue shutdown orders for all non-essential businesses, including casinos.
With nearly 13 million residents, Illinois is the fifth-largest province in the US. It is also the largest province to allow retail as well as mobile sports betting. Some industry experts are of the view that as the Illinois sports betting market will mature, it will race with top markets like Nevada and New Jersey. DraftKings, along with rival sports betting services provider FanDuel, already account for more than 50 per cent of the mobile betting in New Jersey, Indiana and Pennsylvania. Hence, DraftKings is widely expected to grab a considerable share of the market in Illinois as well.
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