In Michigan, prominent daily fantasy sports and sportsbook operator FanDuel Group has reportedly inked an agreement that is to see it supply Detroit’s MotorCity Casino Hotel with an on-site retail sports betting service.
According to a Thursday report from LegalSportsReport.com, the deal could result in the downtown casino launching a FanDuel-branded sportsbook before the March 17 start of the NCAA Division I Men’s Basketball Tournament, which is colloquially known as ‘March Madness’, in hopes of becoming the early leader in the Midwestern state’s emerging sports wagering market.
Online opportunity:
The domain reported that the alliance will also give the New York-headquartered innovator the right to premiere a Michigan-facing online casino and sports betting?operation once the Michigan Gaming Control Board approves a range of detailed regulations. This is purportedly not set to occur before the start of next year although FanDuel Group already knows that it will be subject to a tiered tax system that is to top out at 26.25% of any local iGaming revenues.
Final union:
The 400-room MotorCity Casino Hotel is owned by Ilitch Holdings Incorporated while LegalSportsReport.com detailed that the just-signed arrangement means that it has become the last of Detroit’s three casinos to have inked a sports wagering partnership. It moreover explained that this means FanDuel Group’s closet rival, DraftKings Incorporated, will now be forced to partner with one of the 23 tribal casinos in Michigan should it want to enter the state’s budding sports betting market.
Legislative largess:
Michigan Governor Gretchen Whitmer signed legislation into law in late-December that saw ‘The Wolverine State’ join a growing list of American jurisdictions that had legalized some form of sports betting. This was made possible following the 2018 revocation of the previous Professional and Amateur Sports Protection Act (PASPA) prohibition while LegalSportsReport.com reported that FanDuel Group is now hoping to exploit the state’s friendly tax rates and population of over nine million people so as to grow a sports wagering business that is already a leader in New Jersey and Pennsylvania.