Appearing before Gaming Control Board, FanDuel CFO coy about Nevada plans

February 7, 2024 8:22 PM
Photo: Shutterstock
  • Buck Wargo, CDC Gaming Reports
February 7, 2024 8:22 PM

The chief financial officer of FanDuel, who is in Las Vegas this week for the Super Bowl, was noncommittal about the company’s plans for Nevada when he appeared Wednesday before the Gaming Control Board for his licensing hearing.

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The three-member Board unanimously recommended licensing for David Jennings, an Irish native and CFO of FanDuel since March 2022. The application goes before the Nevada Gaming Commission in two weeks.

FanDuel, which enjoys the largest market share in the U.S., has a revenue-sharing agreement with Boyd Gaming. It provides branding and betting odds for its sportsbook at the Fremont Hotel Casino in downtown Las Vegas, while Boyd is the licensee and operates the sportsbook.

FanDuel is licensed in Nevada to provide information services, which it does for Boyd. It also has a license to provide technology in Nevada, but has not done so at this time.

FanDuel operates retail locations in 18 states. In some, it has its own licenses; in others, it works where Boyd, with its 5% stake in FanDuel, has a presence.

Board member George Assad asked Jennings of Fan Duel’s plans for Nevada.

“Nothing that we’ve announced at this time,” Jennings said. Jennings is based in FanDuel’s New York office.

Also Wednesday, the Gaming Control Board recommended that Durango Casino & Resort General Manager and Vice President David Horn be approved for licensing by the Nevada Gaming Commission. Durango, a property of Red Rock Resorts, opened two months ago in the southwest Las Vegas valley.

Horn said he moved to Las Vegas on Feb. 8, 1994, and has worked with Station Casinos for 27 years, starting at Palace Station. He has worked 20 jobs with the company including the front desk, valet, bellman, and in the race and sportsbook, and at various properties, for example, Red Rock Casino Resort for five years.

“Yours is a great Las Vegas story — starting as a valet attendant and becoming general manager of a beautiful new casino,” said Board Chairman Kirk Hendrick. “It’s the type of story we like to hear.”

As for the two months the property has opened, Horn said, “The reception has been great,” though he’s been surprised that natural light is such a hot topic in the media and with the public.

“A lot of things were intended to make the experience in the casino enjoyable for our guests and some of the things that were not intended have come through,” Horn said. “You can make a whole night of it and the sportsbook and restaurant work well together and are an entertaining venue. The food hall seems to never quit. There are lines sometimes at dinner, they move quickly and a lot of people are coming through. A lot of what we have done there will set the standards for building for us going forward and probably for some other people as well.”