PGA TOUR and DraftKings Expand Relationship with Arizona Market Access and Plans for One-of-a-Kind Retail Sportsbook at TPC Scottsdale

Rhea-AI Summary

DraftKings and the PGA TOUR are expanding their partnership to launch a premium sportsbook at TPC Scottsdale in Arizona, following the passage of HB 2772, which legalizes sports betting in the state. This initiative aims to enhance fan engagement and is expected to create a dynamic ‘19th hole’ experience for visitors. DraftKings will also become the exclusive sports betting partner for the Waste Management Phoenix Open. The collaboration is positioned to deliver significant economic benefits for the local community and make TPC Scottsdale a premier destination for sports betting.

Positive

• Expansion of DraftKings' retail and mobile sports betting in Arizona will increase market access.
• Partnership with PGA TOUR to develop a premium sportsbook at TPC Scottsdale enhances brand visibility.
• Expected economic and tourism benefits for Scottsdale community through collaboration.
• Exclusive partnership with the Waste Management Phoenix Open strengthens DraftKings' presence in golf sports betting.

Negative

• None.

Premium sportsbook planned at TPC Scottsdale as part of mutual commitment to fan engagement and innovation

SCOTTSDALE, Ariz., April 14, 2021 (GLOBE NEWSWIRE) -- Following the Arizona Legislature’s passage of HB 2772, which would authorize fantasy sports and sports betting in the state pending action from Governor Doug Ducey, the PGA TOUR and DraftKings Inc. (Nasdaq: DKNG) today announced that they will expand their existing commercial relationship to provide DraftKings market access for retail and mobile sports betting in Arizona, pending regulatory approvals. As part of this agreement, the PGA TOUR and DraftKings have also announced plans to operate a premium retail sportsbook at TPC Scottsdale.

“When DraftKings became the first Official Betting Operator of the PGA TOUR last summer, a number of possibilities opened up to innovate together,” said Ezra Kucharz, chief business officer at DraftKings. “This momentous effort to pursue a first-of-its-kind sportsbook with the PGA TOUR is a testament to the vision of both organizations that we believe will ultimately benefit Arizona sports fans who want to legally bet on sports.”

The PGA TOUR and DraftKings plan to create a visually stunning “19^th hole” experience at TPC Scottsdale where fans can gather year-round to place wagers, watch sports and enjoy quality food and beverage options. The PGA TOUR and DraftKings are working closely with the City of Scottsdale and the Thunderbirds, the host organization of the Waste Management Phoenix Open, to develop the project and maximize economic, tourism and charitable benefits to the local community. Several locations are being considered at TPC Scottsdale for the retail sportsbook, with details to be announced at a later date.

“The PGA TOUR commends the State of Arizona and Governor Ducey for their forward-thinking approach to legal sports betting,” said Norb Gambuzza, Senior Vice President of Media and Gaming at the PGA TOUR. “We are thrilled to work with DraftKings – along with the City of Scottsdale and the Thunderbirds – to explore a one-of-a-kind sportsbook experience at TPC Scottsdale and the world-class Waste Management Phoenix Open. ‘The People’s Open’ is one of the most attended events in golf and with this announcement we look forward to taking the fan experience to another level.”

Pursuant to the expanded agreement, DraftKings will also become the exclusive sports betting partner of the Waste Management Phoenix Open hosted annually at TPC Scottsdale. Additionally, the PGA TOUR and DraftKings will collaborate on co-marketing initiatives and exclusive hospitality experiences to position TPC Scottsdale as a premier global destination for sports bettors and avid golf fans.

DraftKings is the Official Daily Fantasy Game and an Official Betting Operator of the PGA TOUR. Fans can find the latest available daily fantasy golf contests as well as golf betting markets by downloading the DraftKings apps via iOS and Android.

This partnership is the latest in a string of progressive and industry-leading sports betting initiatives by the PGA TOUR. Following the U.S. Supreme Court’s decision that overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, the TOUR instituted a robust integrity program in collaboration with Genius Sports and later that year announced a global partnership with IMG ARENA to license its official, live scoring data to betting operators all over the world. The TOUR’s Official Betting Operator category was launched in 2020 and the organization continues to evolve its innovative GolfBet partnership with The Action Network. The TOUR is a platinum member of the National Council on Problem Gambling and is aligned with the American Gaming Association as a Have A Game Plan.^® Bet Responsibly public service campaign partner to educate golf fans on responsible sports betting.

About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR, PGA TOUR and UFC as well as an authorized gaming operator of the NBA and MLB, an official betting operator of the PGA TOUR and the official betting operator of UFC. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

About PGA TOUR
By showcasing golf’s greatest players, the PGA TOUR engages, inspires and positively impacts our fans, partners and communities worldwide.

The PGA TOUR, headquartered in Ponte Vedra Beach, Florida, co-sanctions tournaments on the PGA TOUR, PGA TOUR Champions, Korn Ferry Tour, PGA TOUR Latinoamérica, Mackenzie Tour-PGA TOUR Canada and PGA TOUR Series-China. Members on the PGA TOUR represent the world’s best players, hailing from 29 countries and territories (94 members are from outside the United States). Worldwide, PGA TOUR tournaments are broadcast to 216 countries and territories in 28 languages. Virtually all tournaments are organized as non-profit organizations to maximize charitable giving, and to date, tournaments across all Tours have generated more than $3.2 billion.

Fans can follow the PGA TOUR on PGATOUR.COM, the No. 1 site in golf, on the PGA TOUR app and on social media channels, including Facebook, Instagram (in English, Spanish and Korean), LinkedIn, Twitter, WeChat, Weibo, Toutiao and Douyin.

MEDIA CONTACTS
media@draftkings.com
@DraftKingsNews

Mark Stevens, PGA TOUR
markstevens@pgatourhq.com
(904) 861-5112

FORWARD-LOOKING STATEMENTS
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

What is the new partnership between DraftKings and the PGA TOUR about?

DraftKings and the PGA TOUR are launching a premium sportsbook at TPC Scottsdale in Arizona to enhance fan engagement following the legalization of sports betting.

When will the DraftKings sportsbook open at TPC Scottsdale?

The opening date for the DraftKings sportsbook at TPC Scottsdale has not been announced yet, as it is pending regulatory approvals.

What benefits will the DraftKings and PGA TOUR partnership bring to Arizona?

The partnership is expected to provide significant economic and tourism benefits to the Scottsdale community through the sportsbook and exclusive events.

How does DraftKings plan to engage fans at TPC Scottsdale?

DraftKings plans to create a visually stunning ‘19th hole’ experience for fans to place wagers, watch sports, and enjoy food and beverages year-round.

What role will DraftKings play in the Waste Management Phoenix Open?

DraftKings will become the exclusive sports betting partner of the Waste Management Phoenix Open, enhancing its visibility in the golf betting market.