When Illinois legalized sports betting, they also created a rule that the large existing online sportsbook outfits (like DK and FD) would have to wait 18 months before they could enter the market.
This week it was announced that DraftKings has made a deal with Casino Queen in East St. Louis. The deal will rename the Casino after DraftKings and give them instant access to the Illinois market.
Exact financial details are not available at this time but the move obviously made sense financially or DraftKings wouldn’t have pursued it. 18 months worth of sports bets is a lot of money. The population of Illinois is right under 13 million people. And the state is loaded with sports teams. Getting this foothold is the wise thing to do.