On Thursday, Governor Ducey signed sports betting into law in Arizona. Arizona became the 27th state to legalize the form of gambling in the United States. The state is the fourth in 2021 to pass a sports betting bill behind South Dakota, Wyoming, and Maryland.
Governor Ducey has always been a sports betting proponent, so it was no surprise that he signed SB 1797 into law after the legislature passed the bill.
Lawmakers have the goal for a sports betting launch by football season. The NFL year begins in September, so the first of the month is the desired date for betting platforms to go live. September 1st may seem like it’s a long time away, but it takes a lot of planning and paperwork for sports betting to launch.
The Latest Partnership
Professional sports teams will be able to offer retail sportsbooks at their stadiums. The planning for these properties has already begun. On Thursday, FanDuel and the Phoenix Suns of the NBA announced a deal to bring a sportsbook to the team’s arena.
This partnership also gives FanDuel market access to Arizona for widespread mobile wagering. FanDuel and the Suns wasted no time announcing the deal right after Governor Ducey signed the AZ sports betting bill.
FanDuel’s primary competitor, DraftKings, announced a deal with TPC Scottsdale to construct a sportsbook at the golf course.
The professional sports teams and the tribal nations who operate casinos will have the final say in what platforms are eligible to go live. The gambling market should expect more of these partnerships to arise in the coming days.
What Does This Mean for Both Conglomerates?
A partnership means that a team or casino is sponsoring a platform’s ability to launch. In the case of the Suns and FanDuel, it will also mean the construction of a luxury retail sportsbook. Both sides are very excited about the future relationship.
Suns President and CEO Jason Rowley said, “We are well aware of the variety of areas where people spend their time and their money, particularly in the entertainment world. his is opening an entire world of new possibilities for our fans, whether it’s inside the arena watching the game, whether it’s in the sportsbook once it’s built out, or whether it’s watching the game at home.”
The Suns’ marketing teams will be promoting FanDuel to people watching the team at home and in the arena. There have not been any details released about the financial percentages that each party will receive, but Rowley noted that the deal is long-term.
The entire Phoenix Suns Arena is undergoing a $250 million renovation, and a significant piece of this allocated money is for the luxury FanDuel Sportsbook. The FanDuel Sportsbook at Phoenix Suns Arena will be a property that is open all year.
Will the Property be Successful?
The Suns do not need to be playing for the property to be open. This will help the Suns increase their offseason revenue. Retail sportsbooks are not usually popular in states that offer widespread mobile betting.
However, the most frequented sportsbooks in these states are the ones located in professional sports venues. FanDuel is an expert when it comes to retail sportsbooks, operating 16 in the United States.
This deal is a true partnership and not an advertising deal. FanDuel and the Suns are entering a business deal for them both to prosper financially. FanDuel is the most popular mobile sportsbook in the United States, garnering 33.6% of the legal market.
The layout for the sportsbook has not been released, but FanDuel’s luxury properties are very nice. They have multiple televisions, seating areas, betting kiosks, and a full restaurant. With Arizona’s open sports betting market, expect this property to be lavish so FanDuel can stand out in the state.