Capping off a banner week for the Boston-based company, iGaming industry leader DraftKings launched its online / mobile casino app in Pennsylvania on May 1.
Seven days prior, DraftKings completed a reverse merger with online / mobile sportsbook services provider SBTech, before going public with an initial public offering on the NASDAQ stock exchange – Talk about being on a roll.
But while the newly formed public entity – which trades under the ticker symbol “DKNG” – owes most of its $3.3 billion valuation to its burgeoning sports betting empire, launching a casino app in the emerging Pennsylvania iGaming market represents yet another coup for the company.
After successfully completing a “soft launch” phase on Wednesday and Thursday, DraftKings Casino was approved for Friday’s full launch by the Pennsylvania Gaming Control Board (PGCB).
In an interview with PlayPennsylvania, DraftKings’ chief compliance officer Tim Dent celebrated the company’s entrance into the Keystone State:
“DraftKings appreciates the collaborative working relationship we have established with the Pennsylvania Gaming Control Board and thanks them for their thoughtful leadership in creating a consumer-focused, competitive iGaming market.
We look forward to successfully completing the soft launch phase of the process and receiving our iGaming license so that we can be fully operational in Pennsylvania on May 1.”
DraftKings appreciates the collaborative working relationship we have established with the Pennsylvania Gaming Control Board and thanks them for their thoughtful leadership in creating a consumer-focused, competitive iGaming market.
We look forward to successfully completing the soft launch phase of the process and receiving our iGaming license so that we can be fully operational in Pennsylvania on May 1.
DraftKings Adds Casino to Sportsbook in Pennsylvania Expansion
The original daily fantasy sports (DFS) kingpin turned comprehensive iGaming provider launched its Pennsylvania-facing DraftKings Sportsbook app in Pennsylvania last November.
Since then, the company has held steady in second place behind DFS rival FanDuel in terms of sportsbook handle and revenue. But because FanDuel launched its online / mobile platform locally in late January, it’s enjoyed a four-month head start benefiting from “cross-selling” – or directing casino players to its sportsbook, and vice-versa.
In comments made to PlayPennsylvania, director of publicity Kevin Hennessy pointed to cross-selling as the prime reason FanDuel Casino has risen to second-place status in the Pennsylvania market:
“Our casino product is seamlessly integrated into our sportsbook app which adds value to the #1 Sportsbook in PA.
We promised to add new games when we launched to offer a more robust casino product for our customers.
We are glad to be ahead of schedule with our additions.”
As for DraftKings, the company’s partnership with Penn National Gaming paved the way for an entrance, albeit a late one, into Pennsylvania’s lucrative online casino market. Penn National Gaming owns both the Meadows Racetrack and Casino and Hollywood Casino at Penn National Race Course, but only the latter initially applied for an online / casino license.
That license was then used to launch a Hollywood Casino online / mobile app when the state went live last July, leaving Meadows and DraftKings to play catch up. Rather than have Meadows subjected to lengthy license application review by the PGCB, Penn National simply used a second “skin” from Hollywood Casino’s license to bring DraftKings onboard.
With the launch on Friday, DraftKings became the 10th digital casino platform to become operational in Pennsylvania.
Pennsylvania Doubles Statewide Markets for DraftKings Casino
Back in December of 2018, DraftKings rolled out its first casino offerings by adding a blackjack tab to its sportsbook in New Jersey.
In the Garden State, DraftKings casino boasts an assortment of 190 slot games, along with live dealer versions of table games like blackjack and roulette. In Pennsylvania, however, the site’s casino will debut with a limited lineup of 28 slots and table games limited to non-live dealer versions.
Nonetheless, expanding the selection for players will undoubtedly be a priority, as DraftKings Casino PA looks to replicate its success in New Jersey. There, the platform ranks in second place in terms of online / mobile casino revenue behind the Golden Nugget licensing group – a group which includes FanDuel proxy BetFair.