Maryland-based real estate developer The Cordish Companies has selected FanDuel as its sports betting partner for its two Live! casinos in Pennsylvania. Both properties are currently under development and on track to welcome their first visitors in 2020.
The partnership between Cordish and FanDuel will bring sports betting and daily fantasy sports to the developer’s Live! Casino & Hotel Philadelphia and Live! Casino in Westmoreland County.
Under the terms of the recently inked deal between the two companies, the sports betting operator will open retail FanDuel Sportsbooks at Cordish’s two Pennsylvania properties. FanDuel and its partner will also pursue online wagering opportunities.
The partnership will further see the two companies pursue expansion opportunities in other states as sports betting spreads across the nation. Maryland and Washington D.C. will be among the first jurisdictions beyond Pennsylvania, where The Cordish Companies will look to launch sports betting operations with its new wagering partner.
FanDuel entered Pennsylvania’s sports betting fold this past spring with the opening of a FanDuel Sportsbook at Valley Forge Casino Resort in King of Prussia. The company also launched a mobile betting app in the Keystone State in July.
Joseph Weinberg, Principal of The Cordish Companies said that they are excited to team up with FanDuel and to “bring our customers the premier sports betting experience in the country.”
FanDuel Group CEO Matt King added that “with ten decades of experience, The Cordish Companies have created the model for world-class integrated sports, gaming, entertainment, and hospitality destinations” and that this new partnership allows his company to “capitalize on the incredible success of sports betting to date and bring FanDuel’s top sports betting operations to Cordish destinations across the United States.”
Live! Construction Progress
The Cordish Companies is currently developing two properties on the territory of Pennsylvania, with both of them slated to open doors sometime next year.
The company recently held a topping off ceremony for Live! Casino & Hotel Philadelphia. The property is located not far from Philadelphia’s sports complexes. The home venues for the Flyers, Sixers, Phillies, and Eagles annually draw more than 8.5 million visitors, which means that Live!’s FanDuel sportsbook is poised to benefit from that traffic.
Live! Casino & Hotel Philadelphia will spread over 1.5 million square feet and will feature a casino with 2,200 slot machines and more than 150 table games, a FanDuel Sportsbook, a 12-story, 200-room boutique hotel, multiple food and beverage outlets, live entertainment venues, valet parking and a new parking facility.
David Cordish, Chairman of The Cordish Companies, has previously said that “what we are creating in Philadelphia’s Stadium District is unrivaled anywhere in the country” and that “sports fans, foodies, gaming enthusiasts, concert goers, and anyone looking for a night of fun and excitement only have to make one stop to experience it all.”
Last month, The Cordish Companies broke ground on its mini-casino in Westmoreland County. The company is investing $150 million into the construction of what would operate as Live! Casino.
The facility is set to be part of the 1.3-million-square-foot Westmoreland Mall near Hempfield Township. It will occupy 100,000 square feet and will feature 750 slot machines and about 30 table games, a FanDuel Sportsbook, dining outlets, and live entertainment venues. That property is too scheduled to be launched at some point next year.
Source: The Cordish Companies and FanDuel Group Enter into Strategic Partnership
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