DraftKings Partners with Casino Queen For Early Entry Into Illinois 02 Jul, 2020 by Fantasy Sport DraftKings confirmed earlier this week that they have agreed to a deal with the East St. Louis-based Casino Queen casino, which allows the online sportsbook giant to secure an early entry into Illinois’ sportsbetting industry. On July 23, Casino Queen announced the company will rebrand as part of a deal with DraftKings. In many ways, the deal mirrors one signed earlier this year between Penn National and Barstool Sports, with one key exception. Officials from both Casino Queen and DraftKings made it clear this is a partnership, rather than a purchase. DraftKings has an Illinois 'market access' sports betting deal with the Casino Queen venue, allowing it to skirt state's 18-month online-only 'time out.'

DraftKings is headed to Illinois.The sports gaming giant has struck a partnership with the Casino Queen property in East St. Louis, according to a June SEC filing.We don’t know when it will launch yet, but DraftKings figures to be a major player in the Illinois sports betting market. 615 Followers, 527 Following, 1,078 Posts - See Instagram photos and videos from DraftKings at Casino Queen (@draftkingsatcasinoqueen).

BOSTON, July 23, 2020 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced that Casino Queen will be rebranded as “DraftKings at Casino Queen”, including its physical location in East St. Louis, in connection with DraftKings bringing its top-rated sportsbook app and a retail presence to Illinois in association with Casino Queen, subject to receiving necessary approvals.

“We are excited to be working with Casino Queen to bring our premier sports betting experience to the state and its sports fans,” said Ezra Kucharz, DraftKings Chief Business Officer. “Through this collaboration, we have the opportunity to change how fans engage with the sports they love, while becoming a part of the fabric of Illinois’ rich sports culture.”

“Casino Queen is thrilled to welcome DraftKings to Illinois, the St. Louis area, and our family. We believe this collaboration will enhance the Casino Queen iconic brand while introducing the sports betting industry leader to our state. Customers will consider only one choice for gaming and sports betting; DraftKings at Casino Queen,” noted Terry Downey, President DraftKings at Casino Queen.

About DraftKings
DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits 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 across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania 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 as well as an authorized gaming operator of the MLB and NBA.

About DraftKings at Casino Queen
Located across the Mississippi River from St. Louis, DraftKings at Casino Queen has been welcoming visitors since 1993. DraftKings at Casino Queen is famous for its waterfront hotel, stunning views of the Arch and St. Louis skyline and an unforgettable gaming experience with extraordinary service.

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.

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Casino Queen Draftkings Sportsbook

DraftKings confirmed earlier this week that they have agreed to a deal with the East St. Louis-based Casino Queen casino, which allows the online sportsbook giant to secure an early entry into Illinois’ sportsbetting industry.

The partnership between DraftKings and Casino Queen was struck in early June. It will last for a period between 5-10 years. The deal involves a sportsbetting app as well as a retail sportsbook located within the Casino Queen premises, who are also slated to receive an undisclosed portion of DraftKing’s net revenue.

Casino Queen obtained one of the seven four-year masters sportsbetting licenses handed out in June. There is still no word on when DraftKings plans to begin their operations in Illinois, although some believe that their digital sportsbetting products will go live in the next few weeks.

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DraftKings Avoids 18-Month Delay Imposed by State Law

DraftKings, as well as its main rival FanDuel were supposed to be curtailed by a state law that prohibited online-only sports betting licenses for the next 18 months. DraftKings’ partnership with Casino Queen is considered a way around this restriction, allowing DraftKings a major head start on FanDuel in the Illinois market. FanDuel is reportedly also seeking a way to circumvent the 18-month delay on their Illinois operations by trying to acquire Collinsville-based Fairmount Park.

When Illinois lawmakers approved sportsbetting last summer, they included a provision that sanctioned online-only operators such as DraftKings and FanDuel with an 18 month delay before the Illinois Gaming Board (IGB) could issue online-only licenses to enter the state.

The provision was created to penalize both firms for offering daily fantasy sports in the state for years, which was deemed by state Attorney General Lisa Madigan as a violation of state laws.

Draftkings Sportsbook Illinois

The IGB issued the state’s first sportsbetting licenses in June, which should have meant that DraftKings and FanDuel would have to wait until 2021 to apply for their online-only license. The IGB has stated they will only have three licenses for online-only operators, priced at $20 million each.

Illinois Casinos to Reopen

Draftkings Illinois

Illinois currently has one online sports betting platform live and that is BetRivers which launched in June. Gov. J.B. Pritzker signed an executive order last month that suspended a provision in state law that mandated in-person registration for digital sports bets, in order to spur economic activity after the quarantine measures imposed by COVID-19.

Casino Queen Draftkings

Gov. Pritzer has also confirmed that non-essential businesses such as casinos will be allowed to reopen starting July 1 at a 50% capacity.