Hard Rock Open To Partnering With Major Sportsbook in Florida

Article by : Erik Gibbs Oct 10, 2024

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Florida’s sports betting industry could be on the verge of becoming more competitive and collaborative, as Hard Rock International has signaled a willingness to form partnerships with commercial sportsbooks. This could mark a major shift in the state’s market, which has been tightly controlled by the Seminole Tribe following their exclusive tribal gaming compact.

The Seminole Tribe’s gaming arm, Hard Rock International, has held the monopoly on sports betting in Florida since securing a historic tribal compact in 2021. The compact came after a fierce battle against some of the biggest names in the US sports betting industry, including FanDuel, DraftKings, and Penn Entertainment.

These commercial sportsbooks mounted a massive campaign to legalize sports betting in the state but were ultimately unsuccessful. However, recent comments from Hard Rock International’s leadership suggest that changes could be on the horizon.

Speaking at the Global Gaming Expo in Las Vegas, Jim Allen, Chairman of Hard Rock International and CEO of Seminole Gaming, addressed the potential for collaboration with rival sportsbooks. When asked about comments made by FanDuel CEO Amy Howe regarding her company’s continued interest in the Florida market, Allen indicated that Hard Rock is open to the possibility of working together.

Allen added that he had met with representatives from both companies in recent days. He also acknowledged the value of strategic partnerships in the evolving sports betting landscape.

The possibility of partnerships between Hard Rock and major commercial sportsbooks such as FanDuel and DraftKings could be a game-changer for Florida’s betting market. While FanDuel and DraftKings have declined to comment on any potential deals, their interest in Florida remains clear.

At Flutter’s investor day two weeks ago, Howe emphasized that Florida, along with California and New York, is a key target for future growth. Florida’s large population, which surpasses that of New York, and its vibrant sports culture—boasting more than 20 professional and Division I college sports teams—make it a highly lucrative market for sportsbooks.

Florida’s potential to generate significant sports betting revenue has made it a focal point for industry players. According to the American Gaming Association, New York currently leads the nation in sports betting revenue, but with Florida’s size and sports enthusiasm, the Sunshine State could easily rival or even surpass that market if expanded.

Last December, Hard Rock launched sports betting across six Seminole casinos in Florida, marking what Allen called “a new chapter in Florida gaming.” The company also expanded its casino table games as part of the compact, which gave them exclusive rights to operate sports betting in the state.

While Allen declined to provide specific figures on the sports betting revenue generated in Florida, citing the Seminole Tribe’s status as a sovereign nation, the interest from major commercial operators underscores the market’s untapped potential.