{"id":125545,"date":"2020-01-28T15:50:08","date_gmt":"2020-01-28T23:50:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=125545"},"modified":"2020-01-28T16:11:15","modified_gmt":"2020-01-29T00:11:15","slug":"twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/","title":{"rendered":"Twin River Snags Twin Deals with FanDuel, DraftKings for Sports Betting in Colorado"},"content":{"rendered":"

On Monday, Twin River Worldwide Holdings Inc. (NYSE:TRWH) announced it had reached deals with two of the biggest players in US sports betting, FanDuel and DraftKings, to provide their services in Colorado.<\/p>\n

\"\"
Twin River Worldwide Holdings President and CEO George Papanier. (Image: Twin River Worldwide Holdings)<\/figcaption><\/figure>\n

That announcement comes just days after Twin River closed on a $51 million deal<\/a> to purchase the Golden Gates, Golden Gulch, and Mardi Gras casinos in the state. The acquisition secures three of Colorado\u2019s sports betting licenses for the Rhode Island-based gaming company.<\/p>\n

Twin River already had a presence in the state, as it owns Arapahoe Park and its network of off-track betting parlors.<\/p>\n

These newly-formed partnerships with DraftKings and FanDuel allow us to provide an unmatched sports betting experience to Colorado, not only with their mobile betting access, but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos,\u201d Twin River President and CEO George Papanier said in a statement.<\/p><\/blockquote>\n

The deal is subject to Colorado passing regulations that allow casinos to offer sports betting, and FanDuel and DraftKings successfully obtaining the appropriate licensing.<\/p>\n

In the release, Twin River said it plans to keep the third sports betting license for its own sportsbook.<\/p>\n

FanDuel vs. DraftKings<\/h2>\n

DraftKings and FanDuel currently operate against each other in six states where sports betting is legal. Both have retail operations in New York and Iowa, and offer online and brick-and-mortar sportsbooks in Indiana, New Jersey, Pennsylvania, and West Virginia. DraftKings also has operations in Mississippi and New Hampshire.<\/p>\n

According to records from the gaming commissions in their respective states, FanDuel has the largest market share in New Jersey and Pennsylvania in terms of handle. DraftKings has the edge in West Virginia and Indiana. Those are the states where the two are the leaders in handle, thanks to the growth of online betting.<\/p>\n

In recent weeks, the two have been working to cut into their respective rival\u2019s lead in targeted states.<\/p>\n

\n

For example, FanDuel ran its second \u201cSpread the Love\u201d promotion in Indiana, offering bettors an additional point on the spread of the Indiana University-Michigan State men\u2019s basketball game for every 250 bettors who participated. The line initially started at 3.5 points and ended with Hoosier bettors getting more than 100 points, easily allowing for a cover and $45.45 in betting funds on a $50 wager.<\/p>\n<\/div>\n

That came on the heels of a similar promotion FanDuel offered for the Indianapolis Colts-New Orleans Saints Monday Night Football game last month.<\/p>\n

Not to be outdone, DraftKings launched its \u201cBreak the Book\u201d campaign in Pennsylvania. DraftKings gave a percentage of its handle from Jan. 17-26 in the state back in the form of free bets. It started at a minimum of 5 percent and increased a percentage point for every $2 million in handle between $10 million and $20 million. That meant bettors could have received up to 10 percent of their bets back, in time to use that funding for this weekend\u2019s Super Bowl.<\/strong><\/p>\n

As of the last update, DraftKings reported $15.6 million in handle, meaning bettors would receive at least 7 percent of their handle back in free bets.<\/p>\n

What’s Next in Colorado<\/h2>\n

In November, voters went to the polls in Colorado and approved Proposition DD<\/a>, allowing sports betting by a slim margin, 50.7 percent to 49.3 percent. The close vote belied previous polling, which indicated the issue enjoyed 62 percent support.<\/p>\n

Lawmakers there proposed legalizing sports betting to help address a $100 million deficit in the state\u2019s water budget. The state will tax sportsbooks\u2019 net proceeds at a rate of 10 percent.<\/p>\n

On Friday, the Colorado Division of Gaming will offer two Stakeholder Rulemaking Working Group meetings in Golden. The purpose of the meetings will allow the public to observe the discussions state officials hold regarding the updates that have been made to the state\u2019s sports betting proposed rules.<\/p>\n

Applications for sports wagering licenses were due to state officials on Jan. 15. The division anticipates awarding temporary licenses by May 1.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Monday, Twin River Worldwide Holdings Inc. (NYSE:TRWH) announced it had reached deals with two of the biggest players in US sports betting, FanDuel and DraftKings, to provide their services in Colorado. That announcement comes just days after Twin River closed on a $51 million deal to purchase the Golden Gates, Golden Gulch, and Mardi […]<\/p>\n","protected":false},"author":45,"featured_media":125547,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[],"acf":[],"yoast_head":"\nTwin River Snags Twin Deals with FanDuel, DraftKings in Colorado<\/title>\n<meta name=\"description\" content=\"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Twin River Snags Twin Deals with FanDuel, DraftKings in Colorado\" \/>\n<meta property=\"og:description\" content=\"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-28T23:50:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-29T00:11:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/\",\"url\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/\",\"name\":\"Twin River Snags Twin Deals with FanDuel, DraftKings in Colorado\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg\",\"datePublished\":\"2020-01-28T23:50:08+00:00\",\"dateModified\":\"2020-01-29T00:11:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg\",\"width\":800,\"height\":534,\"caption\":\"(Image: Twin River Worldwide Holdings)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sports Betting\",\"item\":\"https:\/\/www.casino.org\/news\/sportsbetting\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Twin River Snags Twin Deals with FanDuel, DraftKings for Sports Betting in Colorado\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\",\"name\":\"Steve Bittenbender\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"caption\":\"Steve Bittenbender\"},\"description\":\"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Twin River Snags Twin Deals with FanDuel, DraftKings in Colorado","description":"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/","og_locale":"en_US","og_type":"article","og_title":"Twin River Snags Twin Deals with FanDuel, DraftKings in Colorado","og_description":"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.","og_url":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-01-28T23:50:08+00:00","article_modified_time":"2020-01-29T00:11:15+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg","type":"image\/jpeg"}],"author":"Steve Bittenbender","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Steve Bittenbender","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/","url":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/","name":"Twin River Snags Twin Deals with FanDuel, DraftKings in Colorado","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg","datePublished":"2020-01-28T23:50:08+00:00","dateModified":"2020-01-29T00:11:15+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2"},"description":"The announcement comes just days after Twin River closed on a $51 million deal to purchase three casinos in Colorado and get their sports betting licenses.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/George-Papanier.jpg","width":800,"height":534,"caption":"(Image: Twin River Worldwide Holdings)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/twin-rivers-snags-twin-deals-with-fanduel-draftkings-in-colorado\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Sports Betting","item":"https:\/\/www.casino.org\/news\/sportsbetting\/"},{"@type":"ListItem","position":3,"name":"Twin River Snags Twin Deals with FanDuel, DraftKings for Sports Betting in Colorado"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2","name":"Steve Bittenbender","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","caption":"Steve Bittenbender"},"description":"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.","url":"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/125545"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=125545"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/125545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/125547"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=125545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=125545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=125545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}