American daily fantasy sports contest & sports betting operator DraftKings has confirmed that it has partnered with Sports & Social to build new locations in New Nashville and Detroit. The widely-popular sports betting operator and Sports & Social restaurant said that their commercial partnership would result in unique, in-person entertainment experiences by providing a blend of premium food, sports betting, and social amusement.
Developed and owned by The Cordish Companies, Sports & Social describes itself as an upscale gaming parlor and social lounge offering unique leisure experience. It may be noted here that The Cordish owns and operates a number of Live!-branded gaming properties in Pennsylvania and Maryland.
Demand for online or mobile sports betting has been on the rise across the Unites States, especially since the onset of the COVID-19 pandemic. In Tennessee, mobile sports betting went live in November last year. Michigan is home to several land-based as well as mobile sportsbooks. Detroit, the largest and most-populous city in Michigan, has three commercial downtown casinos.
Announcing the partnership with Sports & Social, DraftKings’ chief business officer Ezra Kucharz said that the activity of sports betting was increasingly getting focused on the mobile-technology aspect. But, the in-person experience remained unique.
Industry experts are upbeat about the recovery of the gaming business, which suffered steep declines in revenues and profits due to the deadly pandemic in the last couple of years. They believe that pent-up demand will keep on supporting tourism and gaming industry’s recovery. The return of gaming enthusiasts to casinos and hospitality facilities has also boosted their confidence.
Lodging Analytics Research & Consulting recently said, “We expect several years of unprecedented growth, sparked not only by recovery from the worst year the industry has ever seen, but also by unprecedented levels of fiscal stimulus, savings rates, and pent-up demand for experiences people missed over the past year.”
Unlike most other states of the U.S., Tennessee’s sports betting law doesn’t require sportsbooks to be tethered to brick-&-mortar casinos as the state has no commercial or tribal casino. Instead, the controversial activity of sports betting in Tennessee is solely conducted online, and the Tennessee Lottery governs it.
DraftKings and Sports & Social’s plans to build brick-&-mortar venues are being seen as a big bet on Americans wanting to get out of their homes in the post-pandemic years.