Fanatics Betting & Gaming is the first sports betting operator to apply for a retail and digital sports betting license in Missouri, the state’s gaming commission told InGame Wednesday. Meanwhile Sportradar joined the list of suppliers to apply, making it the third, but most well-known, data provider to apply.
The Missouri Gaming Commission (MGC) next week will hear from untethered license applicants Circa Sports, DraftKings, and FanDuel at an Aug. 13 meeting, and will issue two stand-alone digital betting licenses Aug. 15. Whichever company does not get awarded an untethered license will have the option to apply for a tethered one, through a partnership with a land-based casino or pro sports team. The deadline for tethered license applications is Sept. 12, but the MGC has not disclosed when it will award those licenses.
The agency is set to launch retail and digital sports betting by Dec. 1, and there could be up to 19 tethered retail and digital licenses available — one for each of the state’s 13 casinos plus one for each of six qualified professional sports teams.
So far, five digital sports betting operators have applied for licenses, as Underdog applied for a tethered digital license in June. The MGC did not reveal which casino or pro sports team Underdog or Fanatics Sportsbook would be partnered with.
A look at market access
Bally’s, Caesars, and Penn Entertainment each own or operate retail casinos in Missouri, and would presumably use that market access for their platforms — Bally Bet, Caesars Sportsbook, and ESPN Bet. Caesars and Penn each own multiple properties, so will have more than one digital license, or skin, available.
Through an agreement between PointsBet and Penn, Fanatics Sportsbook should have market access. Fanatics closed on a deal to acquire PointsBet’s U.S. assets in April. The 2019 agreement, which also includes DraftKings, allows the platforms a access to a “first skin” in multiple states, including Missouri. TheScore, now owned by Penn, had a similar deal that included Missouri access.
For Fanatics, the deal would be for 20 years, and Fanatics would pay an up-front fee, revenue share, and a one-time market-access fee.
Penn owns or operates three brick-and-mortar locations in Missouri.
The only operator to announce a deal for market access so far is BetMGM, which in May revealed a deal with Century Casinos.
In terms of suppliers, Sportradar joined data providers Catalist and Optic Odds, Gaming Laboratories International, and GeoComply in submitting an application.
