DraftKings Announces Sponsorship of Gaming Innovation Studio at University of Nevada, Las Vegas
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DraftKings Announces Sponsorship of Gaming Innovation Studio at University of Nevada, Las Vegas
Agreement gives the Company naming rights and ongoing access to local expertise and talent
DraftKings plans to open a new office in Las Vegas as it seeks to complete its transformation from DFS giant to US gambling leader. The company, which recently became the first operator to launch a mobile sportsbook in New Jersey, has announced a series of new appointments and detailed plans to open a clutch of new offices across the country to support its growth plans.
Boston, MA and Las Vegas, NV – October 28, 2020 – DraftKings Inc. (Nasdaq: DKNG) today announced a multi-year agreement to become a primary sponsor of the Center for Gaming Innovation, housed within the International Gaming Institute (IGI) at the University of Nevada, Las Vegas (UNLV). The agreement includes the opening of the new DraftKings Gaming Innovation Studio at UNLV and provides DraftKings with access to local talent, while furthering the company’s ties to the Las Vegas community.
“We’re excited to be working with the University of Nevada, Las Vegas and its highly regarded International Gaming Institute to further innovate global online gaming,” said Paul Liberman, DraftKings co-founder and President, Global Technology and Product. “Both DraftKings and UNLV are on the leading edge of developing the next wave of technology within the international gaming industry. Through this agreement, DraftKings not only has access to the latest ideas coming out of the Gaming Innovation Studio, but it also allows us to deepen our relationship with the Las Vegas community.”
In January 2020, DraftKings officially announced the opening of a 300-person office in Las Vegas, providing the Company access to some of the gaming industry’s top talent. The agreement with UNLV will create a pipeline to local talent and to innovations created at UNLV, which has a long-standing track record of success in commercializing gaming products, ranging from new games and software to Responsible Gaming technologies. Visitors to UNLV can expect to see new DraftKings Gaming Innovation Studio signage, as well as DraftKings branding, throughout the Stan Fulton Building.
“The creation of the DraftKings Gaming Innovation Studio at UNLV will substantially expand the scope and output of UNLV's gaming innovation program and will provide students the opportunity to collaborate in a professional setting, turning creative ideas into viable casino games,” said Daniel Sahl, Director of IGI’s Center for Gaming Innovation. “Now more than ever, we are delighted to collaborate with a company that is well-known for embracing innovation in gaming. This collaboration will help ensure that Nevada remains the global leader in gaming development and manufacturing – both now and in the future.”
About DraftKings
DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR.
About University of Nevada, Las Vegas International Gaming Institute
For more than 25 years, UNLV International Gaming Institute (IGI) has provided research-based solutions, cutting-edge insights, and executive education to the gaming industry. Described as the “global intellectual capital of gaming” by former Nevada Governor Brian Sandoval and “The Harvard of Gaming” by Global Gaming Business, IGI houses several excellence initiatives, including the Center for Gaming Innovation, the International Center for Gaming Regulation, the Expanding the Leaderverse initiative, and the Hospitality & Esports Innovation Lab. Each of these addresses a vital need in the global gaming industry, for which the IGI serves as an answer center populated by an internationally recognized dream team of contributors. For more information, please visit igi.unlv.edu.
Forward-Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media Contact
DraftKings co-founder Matt Kalish and sportsbook director Johnny Avello led a tour Wednesday through the company’s expansive new Las Vegas office.
When its DraftKings Sportsbook product will follow dozens of new employees to Nevada remains in question.
Kalish said Nevada’s in-person signup requirement hinders DraftKings’ plans to launch its app in the state:
“Like everyone else, we have to go through our licensing, make sure we get all our paperwork in, all of that kind of stuff. It was a little bit … lower on the list only because there’s a requirement to sign up on-premise in Nevada, which is a little different than if you go to New Jersey for example, you just download DraftKings and start playing.
“In Nevada, you have to go to a brick-and-mortar casino, sign up and then you can use the sports betting app. DraftKings didn’t have a retail — we’re a digital company, so we didn’t have a casino in Las Vegas that people could even go to to sign up.
“We’ve never really had that urgency to go get a license because we don’t have a way for consumers to get access to the product. We need to kind of solve that and then do the licensing in conjunction.”
Wither the Caesars partnership?
Draftkings Las Vegas Office Address Labels
The natural question raised by Kalish’s statement is: does the DraftKings partnership with Caesars provide a potential entry point? The company announced a tie-up with the casino giant in February 2019 for online sports betting nationwide.
“I’m very hopeful that you’re going to see us soon but I just can’t give you an exact date,” Avello said.
At the time of the deal, DraftKings CEO Jason Robins said in a statement:
“Partnering with such a world-class gaming organization will expedite our national roll-out process and give us the opportunity to work alongside one of the largest and most established industry leaders in the world.”
DraftKings and Caesars: still a thing for Nevada?
Draftkings Las Vegas Office Address Las Vegas
Asked Wednesday if DraftKings ever could launch Nevada sports betting via Caesars, Kalish did not answer directly, saying his expertise is in other parts of the operation.
Eldorado Resorts announced in June plans to merge with Caesars Entertainment. That merger could create uncertainty for all parties because Eldorado purchased a 20% stake in William Hill in September 2018.
Eldorado also entered a partnership deal with The Stars Group, which later turned its keys over to Fox Bet. That complicated set of deals could require some unpacking before the future of DraftKings Sportsbook in Nevada becomes clearer.
Inside the new DraftKings office in Las Vegas
The new open-office space is customized as part of a partnership with WeWork and is carved from the shared-work facility. Up to 70 employees will be on-site soon, with plans to expand to as many as 300 at capacity.
Kalish said the Las Vegas office will rank second in size only to the company’s Boston headquarters. Employees currently work in the only finished office of what will grow to four workspaces in the building. The company will run some trading, customer service, fraud, and eventually DraftKings Casino operations from Las Vegas.
Kalish said much of its operation is interchangeable among its offices in Boston, Hoboken, and New York, but DraftKings wanted to access the expertise of casino and sportsbook veterans in Las Vegas.
“There’s a lot of talent here that’s been working with these products for years and years,” Kalish said.