Following a stellar presentation, Massachusetts is likely to approve FanDuel’s bid for an untethered sportsbook license. The Massachusetts Gaming Commission (MGC) was impressed with FanDuel and how transparent the company was.
The commission will meet again later in the month for a vote on Massachusetts online sportsbooks where FanDuel will be on the docket. It is likely that the popular sportsbook will be granted its untethered license during this meeting.
FanDuel Likely Coming To Massachusetts
During the meeting, commission members asked questions of FanDuel for hours following the operator’s presentation. FanDuel’s CFO David Jennings told commission members that $200 million in sports betting tax revenue will be granted to Massachusetts over the first five years from FanDuel.
FanDuel is also planning to spend approximately $50 million advertising locally, bringing more funds to the Bay State. There was also discussion surrounding bringing a FanDuel headquarters to Massachusetts, further invigorating the local economy in the process.
Diversity Push Impresses MGC
The diversity push that the Massachusetts commission has been clamoring for was also up for discussion. FanDuel presented an impressive case for its own diversity push which pleased commissioners.
The Senior Director of Diversity, Equity, and Inclusion (DEI) at FanDuel presented the company’s diversity efforts to the commission. Keita Young, Senior Director, highlighted just how ahead of the curb FanDuel has been.
Amy Howe, FanDuel’s CEO, is the only woman CEO in the sports betting industry. The company also sees 45% of its employees at the C-Suite level being women. Officials also highlighted its executive level seeing an 18% unrepresented minority.
The presentation also highlighted FanDuel’s women’s Leadership Development Program. The company invested $2 million United Negro College Fund and offers internships for black students. FanDuel also participates in the Women in Spores and Events (WISE) initiative.
With diversity being a major focus for MGC Chair Cathy Judd-Stein and other commission members, the titular sportsbook put itself in a good position with the presentation.
When Will FanDuel Launch In Massachusetts?
The commission will vote on untethered licenses on January 18. The commission will continue to see presentations from other candidates during the interim. Massachusetts has not set a launch date for online sportsbooks. The target goal is still to be live in time for March Madness betting.
Once the commission gives out licenses to the likes of FanDuel, fans can expect a launch date to shortly follow. Online sports betting in Massachusetts is well on its way to becoming a reality.