Florida’s Sports Betting Landscape Poised for Dramatic Shift as Hard Rock Opens Door to Partnerships
In a surprise move, Hard Rock International’s chairman, Jim Allen, has expressed willingness to form partnerships with commercial sportsbooks, potentially shaking up Florida’s sports betting market. Hard Rock currently holds a monopoly on sports betting in the state, having secured an exclusive tribal gaming compact after a fierce battle with rival operators FanDuel, DraftKings, and Penn Entertainment.
When questioned about FanDuel CEO Amy Howe’s comments on re-entering the Florida market, Allen revealed that he has developed a strong relationship with both FanDuel and DraftKings. He stated that Hard Rock recognizes the long-term benefits of forming strategic partnerships with marquee brands, which could be mutually beneficial.
The news comes as FanDuel’s CEO identified Florida as one of three key target states, along with California and New York, during Flutter’s investor day. Despite declining to comment on potential partnerships, the possibility of FanDuel and DraftKings entering into deals with Hard Rock has sent ripples through the industry.
Florida’s massive population and rich sports landscape, featuring over 20 professional and Division 1 college teams, make it an attractive market for operators. The state’s sports betting revenue potential is significant, with some estimates suggesting it could surpass that of New York, currently the largest sports betting market in the US.
Hard Rock launched sports betting in Florida last December, marking a new chapter in the state’s gaming industry. While Allen declined to disclose specific revenue figures, citing the tribe’s sovereign nation status, the prospect of partnerships with commercial sportsbooks could herald a new era of growth and competition in the Sunshine State.
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