DraftKings, Resorts Casino team up on sports betting

ATLANTIC CITY, N.J. — One of the nation's largest daily fantasy sports companies is joining up with an Atlantic City casino in the latest deal seeking to capitalize on the emerging legal sports betting market.

DraftKings and Resorts Casino tell The Associated Press they signed a deal last week to offer sports betting in New Jersey.

The pairing highlights the scramble among gambling, bookmaking and technology companies to position themselves to gain a large share of the nascent sports betting market now that the U.S. Supreme Court for it.

The high court earlier this month allowed individual states to legalize sports betting, striking down a law that had limited it to only four states.

“Everybody knows there's a big opportunity out there,” said Jason Robins, CEO of DraftKings. “Anytime you've got a big market about to be created, there's so much opportunity out there that everyone should benefit, as long as you do it the right way.”

Morris Bailey, the owner of Resorts, welcomed the new revenue stream and called DraftKings “a dynamic brand.”

Bailey also strongly has cleared the way opposes the so-called “integrity fee” payments that the professional sports leagues are seeking to help them police betting on the games. DraftKings plans web-based and mobile operations, and will offer numerous in-game betting opportunities in addition to more traditional bets on the outcome of games.

Robins said his company is “ready to go” as soon as it gets the green light from New Jersey regulators.

The deal follows one last week in which European bookmaker Paddy Power Betfair merged with U.S. daily fantasy sports provider FanDuel.