Hard Rock International Chairman Jim Allen indicated an openness to forming strategic relationships with commercial sportsbooks, including DraftKings, for Florida's sports betting market. Hard Rock currently holds a monopoly on sports betting in the state through an exclusive tribal gaming compact.
Florida represents a substantial market opportunity, boasting a larger population than New York, which currently generates the most sports betting revenue. The state also features over 20 professional and Division 1 college sports teams, contributing to a potentially lucrative betting landscape.
While FanDuel and DraftKings previously failed to legalize sports betting in Florida in 2021, a partnership with the incumbent Hard Rock could provide a viable entry point. Such a collaboration would allow DraftKings to tap into a significant, currently monopolized market, expanding its reach and revenue potential.
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