The Greenbrier in West Virginia, the nation’s only private casino, owned by the family of Governor Jim Justice, will partner with FanDuel for its sports betting operation. FanDuel Chief Executive Officer Matt King said, “We are honored to be chosen to provide sports wagering services at the Greenbrier, an iconic resort in the U.S. As we work towards building out a top sports betting product for the upcoming NFL season, we look forward to bringing West Virginia residents, sports fans and visitors to the Greenbrier the best interactive sports experience on the market.”
The deal is FanDuel’s first sports betting partnership and the first in West Virginia. The Greenbrier will have an onsite wagering platform inside the Greenbrier’s Casino Club, as well as a FanDuel-branded online site and mobile application. Greenbrier President Dr. Jill Justice said, “The Casino Club at the Greenbrier has been an attractive destination for our guests and members since its opening sports betting provides yet another element to the casino experience.”
West Virginia legislators approved sports betting at the state’s five casinos and on approved mobile apps, shortly before the U.S. Supreme Court overturned the federal ban on sports betting. The new law requires casinos to pay a $100,000 licensing fee and a tax of 10 percent of revenue. It’s not clear if the Greenbrier’s platform will be available statewide or exclusively to members and guests of the private club.
The West Virginia Lottery will oversee sports betting, which regulators expect to have ready to implement by September 1. Operators can partner with up to three online/mobile platform providers. Conservative estimates expect sports betting to generate revenue of about $5 million in its first year.
The sports betting law does not include the integrity fee promoted by major league sports, although Justice had threatened to revisit the law to allow the fees. Justice allowed the measure to pass into law without his signature because of a conflict of interest: the Houston Texans of the National Football League hold their training camp at the Greenbrier.
FanDuel is in the midst of being acquired by Dublin-based gaming company Paddy Power Betfair. Observers believe the Greenbrier-FanDuel deal is based on the PPB deal closing soon, since FanDuel doesn’t have a way to provide a sports betting product on its own. In addition, the PPB subsidiary Betfair US has formed its own partnership with Tioga Downs in New York and Meadowlands Racetrack in New Jersey and will use the FanDuel brand in those two states as well.
Competitive DFS providers DraftKings apparently will beat FanDuel in offering sports betting. DraftKings already announced deals with both Resorts Atlantic City and Kambi Group to launch New Jersey sports betting this summer; it could go live there as early as mid-July.
