Boyd Gaming, a large gambling company based in the US, has shared that a deal inked with an Irish gambling group has been helpful to attract new customers.
The announcement that new clients have been lured to Boyd Gaming’s casinos thanks to its partnership agreement with Flutter Entertainment, which currently owns one of the largest bookmakers in the UK – Paddy Power Betfair – comes only a few days before the Irish gambling giant is set to publish its results later this week.
At the same time, gambling regulatory bodies are still reviewing the company’s planned merger with Canadian operator The Stars Group. The deal is estimated at €12 billion.
For the time being, the US subsidiary of Flutter Entertainment, FanDuel, offers sports betting in partnership with Boyd Gaming at the latter’s casinos in several states across the country. Now, Keith Smith, the Chief Executive Officer of Boyd Gaming, confessed that the offering of the FanDuel sportsbook brand helped Boyd attract new customers to the operator’s properties on the territory of Indiana, Pennsylvania and Iowa.
The sportsbook took advantage of the recently-liberalised sports betting market in the US, following the 2018 ruling of the US Supreme Court to pave the way for the US states to expand their gambling offerings and provide them with the chance to decide for themselves whether to make gambling on football, baseball, basketball and other sports legal or not.
Flutter Entertainment Follows Plans for Global Gambling Market Expansion
The boss of Boyd Gaming provided the information as the company revealed that its 2019 profits increased by 37% by $157.6 million from $115 million a year earlier. Its revenues, on the other hand, increased by the same rate from $2.63 billion in 2018 to $3.33 billion in 2019.
Flutter Entertainment has been one of the British and Irish gambling operators that were seeking global expansion to compensate for the results generated by their operations in the domestic market. The stricter regulatory regime that has been imposed by the UK Gambling watchdogs, as well as some political turmoil, have caused trouble for the gambling sector, resulting in lower revenue.
The US subsidiary of Flutter Entertainment has been willing to establish a physical presence in each state across the country, along with its online operations, at a time when states are individually making decisions whether they are willing to make sports betting legal. The partnership between FanDuel and Boyd Gaming was inked in 2018 and has been continuing since then.
The global expansion plan of Flutter Entertainment has been also backed by the recent company’s intention to merge with the owner of Full Tilt Poker and Sky Bet brands, The Stars Group. Most recently, the company received informal approval of the planned deal from an Australian gambling regulatory body. The deal is set to create the largest gambling group on a global scale. The new conglomerate, which is set to be established as a result of the agreement in October this year, will have 10 million customers.
- Author
Olivia Cole
