New FanDuel group hits the New Jersey ground running
News on 12 Jul 2018
News on 12 Jul 2018
Hot on the heels of the announcement of its merge with the Paddy Power Betfair group, the newly formed FanDuel Group has revealed that it will launch its first Sportsbook operation at the New Meadowlands Racetrack
The company’s new 5,310 square foot sports betting retail location is adjacent to MetLife Stadium and is the closest in proximity to New York City.
“The opening of our first sportsbook at the Meadowlands is reflective of our commitment to providing sports fans a best-in-class experience,” said Matt King, CEO, FanDuel Group. “We’re excited to partner with Jeff Gural and the team at Meadowlands Racing and Entertainment on what we believe will be the premier sports betting experience for fans in New Jersey, New York, and across the northeast region.”
The new company consists of a number of major betting brands including FanDuel, TVG Network, Betfair Casino, and DRAFT.
TVG, the top online horseracing wagering business in the US, will play a key role in the combined business as it leverages the FanDuel brand’s broad reach to bring a new generation of fans to racing. TVG is the only dedicated US horseracing television network consisting of two channels, TVG and TVG2, which are broadcast daily into over 45 million homes.
The combined business will have a presence across 45 states, 8 million customers, and $265 million in annual revenue making it a leader across daily fantasy sports, horseracing wagering, and gaming.
The FanDuel Sportsbook will feature bets on all major U.S. sports, including professional baseball, soccer, football, basketball, golf, boxing, and motorsports racing. At opening, the location will initially feature 10 teller windows and 27 televisions and accommodate up to 490 people.
By the start of the football season, the FanDuel Sportsbook will expand to include 15 tellers, 65 television screens, and a capacity of close to 650 people.
In addition to future wagers on professional football and baseball, the July 14 sports betting offerings will feature the finals of the world’s largest soccer tournament, men’s and women’s tennis finals from England, and a slew of professional baseball games that will conclude the first half of the season.
The management team at FanDuel comprises Matt King as CEO and Betfair US CEO Kip Levin as president and COO in addition to his responsibilities as CEO of TVG. Paul Rushton, currently Commercial Finance Director of Paddy Power Betfair, will become the CFO of FanDuel Group.
