DraftKings (NASDAQ:DKNG) is planning a major expansion in Las Vegas, saying it will move to a new 90,000-square-foot space in the southwest area of the city. It also said that it will employee more than 1,000 staffers in the domestic gaming center.
Although DraftKings currently doesn’t offer daily fantasy sports (DFS) or sports wagering services in Nevada, the company opened a Las Vegas office in January 2020. Its headcount in Sin City has since grown more than 400 percent.
The company’s new 90,000-square-foot technology hub will occupy much of an entire building at UnCommons, Matter Real Estate Group’s 40-acre modern workplace and stylized mixed-use community coming to Southwest Las Vegas in early 2022,” according to a statement issued by the gaming operator.
When DraftKings puts the finishing touches on its Las Vegas expansion, its Sin City office will be its second-largest, trailing only the Boston headquarters.
DraftKings Committed to Las Vegas
While DraftKings currently doesn’t offer its gaming services in Nevada, the operator is nonetheless committed to the largest state in terms of overall gross gaming revenue (GGR).
In March, the company announced the acquisition of Vegas Sports Information Network (VSiN), integrating those employees into its broader workforce. VSiN’s content includes 18 hours a day of sports wagering coverage, and the company has a 24/7 stream. It has dedicated channels on iHeartRadio and TuneIn, as well as smaller radio stations across the US. The company’s offerings are also available on several linear television platforms and streaming services, such as fuboTV and Sling TV.
The company is also a primary sponsor of the Center for Gaming Innovation at the University of Nevada, Las Vegas (UNLV).
As part of that arrangement, DraftKings “opened the new DraftKings Gaming Innovation Studio at UNLV, providing access to local talent and technology,” according to the statement.
More in Store for DraftKings in Nevada
As noted above, DraftKings doesn’t offer DFS and sports betting in Nevada, and as a digital-only company, it’s unlikely the operator pursues ownership of a land-based casino.
However, it may have other avenues for finally entering the Nevada market. In August, the company said it’s acquiring Tilman Fertitta’s Golden Nugget Online Gaming (NASDAQ:GNOG) for $1.56 billion in stock — a deal that could pave the way for getting into the Silver State.
“Preferred market access rates through existing Golden Nugget casinos. Retail sportsbooks at current and future Golden Nugget casinos to be rebranded as DraftKings,” according to a DraftKings investor presentation.
Golden Nugget operates two Nevada casinos – one in downtown Las Vegas and another in Laughlin.
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