After Deal With UNLV, Could A DraftKings Sportsbook In Nevada Be In The Cards?

Finally, DraftKings is somewhat heading to Nevada.

DraftKings announced last week that they have entered into a multi-year agreement to primarily sponsor the Center for Gaming Innovation at UNLV.

UNLV’s partnership with gaming companies isn’t a novel concept. The university has a multitude of other sponsorships with gaming companies and casino operators across Nevada. Rush Street Gaming is the only other sponsor of UNLV that doesn’t operate in Nevada.

Although DraftKings is not licensed to run its sportsbook or daily fantasy sports site in Nevada, this deal could indicate future possibilities.

DraftKings Gaming Innovation Studio

The agreement encompasses the inauguration of the new DraftKings Gaming Innovation Studio at UNLV. This provides DraftKings with access to the university’s local talent and further cements the company’s relationship with the Las Vegas community.

Paul Liberman, co-founder and COO of DraftKings, expressed his excitement about collaborating with the University of Nevada, Las Vegas and its esteemed International Gaming Institute to foster further innovation in global online gaming.

DraftKings and UNLV are at the forefront of creating the newest wave of technology in the global gaming industry. This agreement not only gives DraftKings access to the most recent innovations from the Gaming Innovation Studio, but also strengthens our ties with the Las Vegas community.

Collaborating with UNLV brings DraftKings nearer to the Las Vegas market.

DraftKings expands in Las Vegas

Despite not operating in Nevada, DraftKings is expanding its presence in the state. The company opened a new office in Las Vegas in January 2020, employing 300 people. Additionally, a partnership with UNLV will provide DraftKings with direct access to the university’s young local talent and innovative creations.

This deal isn’t just about future employee access or new technology. There’s also a marketing aspect to it.

Those visiting UNLV will likely notice new signage for the DraftKings Gaming Innovation Studio, as well as DraftKings branding throughout the Stan Fulton Building.

DraftKings adds UNLV to its extensive list of partners.

• Gaming by Boyd
• Entertainment by Caesars
• Dotty’s
• IGT
• Konami
• The Venetian and The Palazzo (Las Vegas Sands)
• Resorts MGM
• Recently, Mohegan Sun was licensed to operate the casino at Virgin.
• National Gaming by Penn
• World Resorts
• Games of Science
• Casinos Station
• Resorts Wynn

Will DraftKings open a Nevada sportsbook?

This UNLV deal is the newest development in the constantly evolving world of sports betting in Nevada, suggesting that DraftKings could potentially make an entrance into the Silver State.

Last year, DraftKings entered into a multi-year, multi-state contract with Caesars Entertainment. However, this does not guarantee DraftKings a straightforward passage to operate in Nevada. The circumstances have changed for Caesars today.

Caesars merged with Eldorado Resorts, which had partial ownership of sportsbook operator William Hill. Upon completion of the merger, the newly established Caesars Entertainment bought the rest of the ownership stake in William Hill.

William Hill’s Caesars Sportsbooks is now the official operator for the company, following approval from the Nevada Gaming Control Board. Subsequently, William Hill also received approval to acquire and operate the sportsbooks assets of CG Technology.

What does this have to do with DraftKings?

Meanwhile, DraftKings has remained silent regarding its deal and any potential future partners. The company doesn’t appear to be in a hurry to establish a presence in Nevada. Moreover, it primarily operates online and mobile sports betting in other regions, relying heavily on remote account registration, a feature not yet available in Nevada.

The Nevada Gaming Control Board had planned a workshop this week to consider permitting mobile sportsbook registration. However, the session has been canceled and is likely to be rescheduled for a future date.

DraftKings may potentially seek another partner in Nevada. Hypothetically, they could negotiate a fresh agreement with Resorts World Las Vegas, which is still set to open in the summer of 2021.

Likewise, the company has the option to wait for a new operator to enter Las Vegas. For instance, Hard Rock International could potentially be the next casino operator to join the Las Vegas market.

The announcement from DraftKings could have been timed coincidentally, or it could be an indication of future events.