Las Vegas’ casino executives are one step closer to revamping their offer for the millennials as Daily Fantasy Sports gets the thumbs up in Nevada.
[dropcap]R[/dropcap]ecent proposals to allow the launch of fantasy sports betting services throughout Nevada have been initially approved, boosting Las Vegas’ Casinos in their aim to attract younger players through their doors.
The unanimous ruling by the Nevada Gaming Control would see a potential boost to the famous Vegas gambling halls, who have been working to expand their core casino market base and take advantage of an upsurge of young visitors.
Las Vegas race and sports book pioneer, Vic Salerno, who first proposed the ruling, said that if everything goes according to plan players could begin betting on fantasy sports, from American football to baseball, by August.
Salerno told the Gaming Control board at the licensing hearing the betting platform is expected to attract new players, with at least 50 percent of those players being young people. Some sports book operators have suggested this figure could be as high as 80 percent.
Should Salerno be granted final approval by the regulatory body, his company, US Fantasy, would become the first to offer betting on fantasy sports contests though Nevada casinos.
Sports betting has been a steadily growing segment of Nevada’s gaming industry. The sports betting handle in Nevada was $4.2bn (E3.7bn) last year and is projected to approach $5bn (E4.4bn) in 2016.
Under Nevada law fantasy sports operators now have to be licensed by the state after previously being popular in Nevada until October last year when state regulators said the activity constituted sports wagering.
Board Chairman A.G. Burnett called the proposal a “turnkey solution” to offer fantasy sports betting in Nevada.