As many as 10 sportsbook operators registered as a business in the Commonwealth of Kentucky. Expect many of them to obtain licenses in time for the sports betting launch in September.
The list includes Caesars, FanDuel, DraftKings, Fanatics, BetMGM, WynnBET, Bet365, PointsBet, Betfair and Circa. The presence of PointsBet and Fanatics mean two companies will share a single license, sort of. Fanatics is in the process of purchasing PointsBet’s U.S. holdings.
The Kentucky Horse Racing Commission (KHRC) has talked to several of the names in an effort to get ahead of the game in setting up betting in conjunction with horse tracks, Executive Director Jamie Eads told the Kentucky General Assembly’s interim budget committee.
Kentucky will launch retail sports betting in as many as 14 tracks or other gaming locations across the state on September 7. Mobile sports betting with as many as 27 apps expects to launch September 28.
Caesars and FanDuel have already established racing partnerships: Caesars Racebook and FanDuel Racing.
Kentucky Secretary of State Communications Director Michon Lindstrom told Gaming Today her agency’s online business filing search does not indicate if the filing is for horse racing only or sportsbooks.
Fanatics registered its business in December 2021 as FBG Enterprises OPCO, LLC., with Fanatics Sportsbooks listed as an assumed name. PointsBet USA Holding Inc. registered on July 31. Go figure.
Fanatics is closing in on more than Kentucky. The company could secure its New York license as a sportsbook in a few weeks. The process in New York has begun for Fanatics Sportsbook to take over for PointsBet.
During a meeting of the New York State Gaming Commission on August 3, executive director Robert Williams talked about a timeline for Fanatics to be in play.
Fanatics could earn a license through its acquisition of PointsBet’s U.S. sportsbook business. Fanatics plans to rely on PointsBet’s existing technology in New York, the sportsbook’s house rules, internal controls and back-end reporting tools.
“They will, however, utilize an outside entity to triage their customer service complaints,” Williams said, “which is a different approach than was taken by PointsBet.”
Williams reiterated online sportsbooks in New York state are casino vendor enterprises. Each applicant must undergo extensive review and vetting before receiving a license. Fanatics informed the state of the PointsBet deal and began sending documentation to the commission in advance to expedite the procedure. Still, the sale expects to close by early spring which will make it difficult for Fanatics to be in business any sooner than that..
