New Hampshire Lottery Approves Betting Contract With DraftKings
The New Hampshire Lottery Commission approved a sports-betting contract with DraftKings, "paving the way for the state to become the second in New England to allow wagering on games," according to Michael Casey of the AP. The two sides agreed to a "six-year contract to operate sports books in the state with the possibility of two, two-year extensions." DraftKings will "pay the lottery 51% of gross gaming revenue for mobile and 50% of gross gaming revenue from retail locations." The New Hampshire Lottery expects that sports betting on DraftKings' mobile app will "start in January." Physical locations for sports betting are "expected to be up and running by late winter or early spring" (AP, 11/25). In Boston, Gintautas Dumcius noted retail sportsbook locations are "allowed to operate in the New Hampshire communities of Berlin, Claremont, Franklin, Laconia, Manchester and Somerworth after voters signed in local elections this past fall" (BIZJOURNALS.com, 11/25). Also in Boston, Michael Silverman notes a deal in the future with another sports betting operator such as FanDuel is "not out of the question." But DraftKings emerged as the winner of a "competitive bidding process in which New Hampshire preferred DraftKings’s app, implementation timeline," and the 51% gaming revenue it will hand over to the state (BOSTON GLOBE, 11/26).