Just days after completing the purchase of three casinos in Black Hawk, CO, Twin River Worldwide Holdings, Inc. announced that they have reached deals with DraftKings and FanDuel to bring sportsbooks to the Colorado casinos. The deals are contingent upon approval by government regulators and receiving the appropriate gaming license.
On January 24, Twin River announced that they had completed their $51 million purchase of three casinos – Golden Gates, Golden Gulch, and Mardi Gras – from Affinity Gaming. The three properties, located about 30 miles west of Denver, increased the total number of casinos that Twin River owns to seven.
This purchase opened up a big opportunity for the company. Colorado will officially allow sports betting beginning on May 1. The Colorado Division of Gaming is currently working on rules for licensing, and with both sportsbooks already approved in several states, this should give Twin River a leg up on their competitors.
The partnership looks to be one that benefits all organizations involved. Twin River has established a nationwide reputation for gaming and casino operations and is a globally recognized brand. FanDuel and DraftKings have become two of the most successful sportsbook operators across the globe, and are making their presence known throughout the U.S.. If approved, the FanDuel platform will now be available in five states while DraftKings will be available in six.
In a statement provided by George Papanier, President and Chief Executive Officer of Twin River, he explained about the partnership, “Obtaining the right to three sports gaming licenses in Colorado will expand our footprint in the state well beyond our Arapahoe Park racetrack and off-track betting network. These newly-formed partnerships with DraftKings and FanDuel allow us to provide unmatched sports betting experience to Colorado, not only with their mobile betting access but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos.”
Ezra Kucharz, DraftKings chief business officer, echoed the sentiments. “Coast to coast, DraftKings is committed to providing states across the country with the ultimate experience in legal sports betting. Twin River holds a mutual pledge to providing exciting, real-time gaming opportunities, and we look forward to working alongside them to introduce Colorado sports fans to our award-winning product.”
Matt King, CEO of FanDuel Group, also sees this as a great opportunity for the company to expand its reach. “Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting.”
The plan is to offer both mobile and online access for users. In addition, an in-house betting operation will be added to the Mardi Gras Casino in Black Hawk, but no opening date has been given.
