Fanatics Partners with Boyd for Missouri Sports Betting License

• Fanatics is teaming up with the regional casino operator to enter Missouri
• Boyd’s first sports betting deal of note since selling its FanDuel stake

Fanatics Betting and Gaming said Monday that it’s entering Missouri’s sports wagering market via a partnership with regional casino Boyd Gaming (NYSE: BYD).

Earlier this month, the Missouri Gaming Commission (MGC) awarded its pair of untethered online sportsbook licenses to DraftKings and Circa Sports, meaning other gaming companies wishing to offer sports wagering in the Show Me State need to partner with professional sports teams or land-based casinos located there. Hence, the need for Fanatics to find a Missouri partner.

Under the terms of their multi-year agreement, Fanatics Sportsbook will operate mobile sports betting under Boyd’s sports betting license in Missouri,” said Fanatics in a statement. “The companies will open Fanatics-branded retail sportsbooks at Boyd’s Ameristar Casino Hotel Kansas City and Ameristar Casino Resort and Spa St. Charles, located near St. Louis. Fanatics plans to launch its online and retail betting products with the debut of regulated sports wagering in Missouri this December, contingent upon receipt of all required regulatory approvals.”

Financial terms of the Boyd/Fanatics arrangement weren’t disclosed. Online sports betting is expected to be live in Missouri in December.

Interesting Move by Boyd

The Missouri partnership with Fanatics is eye-catching as it relates to Boyd because it’s the first sports betting accord notched by the casino operator since it sold its 5% stake in FanDuel to Flutter Entertainment (NYSE: FLUT).

Arguably, that makes it all the more interesting that Fanatics is partnering with Boyd to enter Missouri, and not FanDuel. To the surprise of many industry observers, Circa won one of the state’s untethered licenses, forcing FanDuel – the largest online sportsbook operator in the US — to partner with St. Louis City SC of Major League Soccer (MLS).

Fanatics Offering Missouri Perks

FanDuel and DraftKings are by far the largest online sportsbook operators in the US, but in some states, Fanatics has made impressive strides, with some experts saying a portion of that ascent is attributable to promotional spending.

That shouldn’t diminish Fanatics’ progress in a hyper-competitive industry, and it’s a playbook that could serve the company well when it comes to attracting customers in Missouri.

“Upon launching this December, sports fans across Missouri will be able to download the Fanatics Sportsbook on iOS and Android and begin their Fanatics experience. Winning Hits Different in Missouri on Fanatics Sportsbook with up to 10% FanCash back on every bet, win or lose; Fair Play™ injury protection; and events and experiences that only Fanatics can pull off,” according to the statement.