Boyd Gaming, FanDuel Group Launch Sports Betting In Illinois

Rhea-AI Summary

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group have announced the launch of the FanDuel Par-A-Dice Sportsbook in Illinois, expanding their partnership. The sportsbook offers an extensive online and mobile betting platform for sports including football, basketball, and baseball. A retail sportsbook will also be established at Boyd Gaming's Par-A-Dice Casino in East Peoria, pending regulatory approval. The partnership has seen successful launches in other states, with Boyd Gaming now accessing markets in 15 states, representing over 36% of the U.S. population.

Positive

• Launch of FanDuel Par-A-Dice Sportsbook expands Boyd Gaming’s market presence in Illinois.
• Access to a large market in Illinois, enhancing the potential for revenue growth.
• Continued success in previous markets validates the partnership with FanDuel.

Negative

• Regulatory approval is pending for the retail sportsbook, which may delay full operations.

LAS VEGAS, Aug. 31, 2020 /PRNewswire/ -- In a continued expansion of their successful nationwide partnership, Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group today announced the debut of the FanDuel Par-A-Dice Sportsbook in the state of Illinois.

Sports bettors across the state of Illinois now have access to FanDuel's industry-leading online and mobile sports-betting platform, with wagering options available in professional football, basketball, baseball, hockey and more.  Additionally, FanDuel will operate a retail sportsbook located at Boyd Gaming's Par-A-Dice Casino in East Peoria, Illinois, pending regulatory approval.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Given the tremendous success of our existing FanDuel Sportsbooks, we are confident that the FanDuel Par-A-Dice Sportsbook will quickly become Illinois sports bettors' mobile app of choice.  We are excited for the opportunity to offer both mobile and retail sports betting in one of the most populous states in the country, as we continue to expand our strategic partnership with FanDuel Group."

"Sports are back and FanDuel, America's No. 1 sportsbook, is coming to Illinois with our friends at Boyd Gaming and the Par-A-Dice Casino," said Matt King, Chief Executive Officer of FanDuel Group.  "Boyd Gaming and the Par-A-Dice are perfect partners for us to bring our innovative sports-betting app and retail sportsbook experience to sports fans in Illinois."

Since launching their partnership in mid-2018, Boyd Gaming and FanDuel have introduced mobile sports-betting apps in Indiana and Pennsylvania, as well as retail FanDuel Sportsbooks at eight Boyd Gaming properties in five states.  The FanDuel Sportsbook has an online leadership position in Pennsylvania, and is one of the top retail sportsbooks in Iowa at Diamond Jo Worth.

The partnership between Boyd Gaming and FanDuel Group includes collaborative efforts between the two companies in mobile and online sports betting and casino games, where permitted by law. The agreement includes states where Boyd Gaming holds gaming licenses, excluding Nevada, as well as additional states covered under Boyd Gaming's current market-access agreements.  Boyd Gaming currently has access in 15 states nationwide, representing more than 36% of the U.S. population.

In addition to their retail and online sports-betting partnership, Boyd Gaming and FanDuel also operate an online casino in the state of Pennsylvania. The companies are also engaged in extensive co-branding and cross-promotional efforts, as the two companies actively market each other's properties and products to their respective customer bases nationwide.

Forward-looking Statements and Company Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. In addition, forward-looking statements in this press release include statements regarding: the Company's statements regarding FanDuel Sportsbooks at various Boyd Gaming properties, expansion into mobile products, the continued progress executing against the partnership's strategic growth initiatives, the receipt of required regulatory approvals, and that the Company is well-positioned to capitalize on future growth opportunities. These forward-looking statements are based upon the current beliefs and expectations of management and involve certain risks and uncertainties, including (without limitation) the possibility that the transactions contemplated by continued partnership between the Company and FanDuel Group will not realize the growth opportunities as anticipated. Additional factors are discussed in "Risk Factors" in Boyd's Annual Report on Form 10-K for the year ended December 31, 2019, and in Boyd's other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this current report are made as of the date hereof, based on information available to Boyd as of the date hereof, and Boyd assumes no obligation to update any forward-looking statement.

About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states.  The Company is also a strategic partner and 5% equity owner of FanDuel Group, the nation's leading sports-betting and iGaming operator.  With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service.  For additional Company information and press releases, visit www.boydgaming.com.

About FanDuel Group
FanDuel Group is an innovative sports-tech entertainment company that is changing the way consumers engage with their favorite sports, teams, and leagues. The premier gaming destination in the United States, FanDuel Group consists of a portfolio of leading brands across gaming, sports betting, daily fantasy sports, advance-deposit wagering, and TV/media, including FanDuel, Betfair US, DRAFT, and TVG. FanDuel Group has a presence across 45 states and 8 million customers. The company is based in New York with offices in California, New Jersey, Florida, Oregon, and Scotland. FanDuel Group is a subsidiary of Flutter Entertainment plc, a leading international sports betting and gaming operator and a constituent of the FTSE 100 index of the London Stock Exchange.

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SOURCE Boyd Gaming Corporation

FAQ

What is the significance of the FanDuel Par-A-Dice Sportsbook launch for Boyd Gaming (BYD)?

The launch represents a strategic expansion into Illinois, enhancing Boyd Gaming's market presence and potential revenue.

When was the FanDuel Par-A-Dice Sportsbook launched in Illinois?

The sportsbook was announced on August 31, 2020, marking Boyd Gaming's expansion efforts.

How many states does Boyd Gaming operate in after the partnership with FanDuel?

Boyd Gaming now has access in 15 states, covering more than 36% of the U.S. population.

What types of sports betting options are available at the FanDuel Par-A-Dice Sportsbook?

The sportsbook offers a wide range of betting options including professional football, basketball, baseball, and hockey.

Is there a retail sportsbook associated with the FanDuel Par-A-Dice Sportsbook in Illinois?

Yes, a retail sportsbook will be located at Boyd Gaming's Par-A-Dice Casino in East Peoria, pending regulatory approval.