Louisiana regulator grants FanDuel fantasy license, approves Caesars horse racetrack sale
FanDuel joins DraftKings as daily fantasy sports operators in the Bayou State.
The Louisiana Gaming Control Board on Thursday approved FanDuel’s license to operate fantasy sports.
FanDuel becomes the second daily fantasy sports (DFS) operator to enter the Louisiana market, joining rival DraftKings, who has been offering fantasy since July.
“It expands options for fantasy sports fans, which I think is important moving forward,” LGCB Chairman Ronnie Johnssaid.
Voters in nearly three-quarters of Louisiana parishes chose to legalize fantasy sports betting in Nov. 2018. It took the state more than a year-and-a-half to implement daily fantasy.
Louisiana regulators are still in the process of approving sports betting licenses after voters in 55 of 64 parishes voted in support of sports betting last November. DraftKings and FanDuel are expected to be among the operators approved for sports betting licenses.
The LGCB also voted Thursday to approve the sale of Harrah’s Louisiana Downs horse racetrack and casino in Bossier City. Caesars announced last year that it would sell the 12,000 square feet property to Rubico Acquisition Corp. for $22m. Caesars will receive $16.5m, while $5.5m will go to VICI Properties. Rubico is based in Baton Rouge, Louisiana.
“I really believe if this sale didn’t go through Caesars would ultimately close the facility; the company just isn’t interested in operating a horse racetrack,” Johns said, according to the Daily World. “”Rubico is committed to upgrades and investments and marketing that I believe can elevate the property, including building an RV park.”
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