The gaming industry converged on Las Vegas this week for the G2E convention. That includes a ton of the brass from Hard Rock International, the corporate umbrella of the Seminole Tribe.
In an interview with CNBC this week, Hard Rock CEO Jim Allen said he had met with commercial operators like FanDuel and DraftKings. Furthermore, it appeared that an entry into Florida is possible in the future.
The Seminole Tribe of Florida is the sole option in the Florida online sports betting market through its Hard Rock Bet sportsbook.
Allen didn’t share any specific details with the corporate media outlet. However, he said a Hard Rock partnership with commercial operators “could be helpful to both of us.”
Hard Rock focused on future, Allen says
Hard Rock Bet will celebrate its first year operating in the Sunshine State next month. Florida sports betting relaunched in November after briefly operating in 2021. The Seminoles won a legal challenge to its monopoly over sports betting in Florida earlier this year.
Experts project Hard Rock will be the third largest sports betting operator in the US by the end of the year, behind just FanDuel and DraftKings. Allen told CNBC that his company has been working on developing a relationship with the two sports betting giants.
“Whether its FanDuel or whether its DraftKings, we’ve actually developed a great relationship with them. Frankly, (we had) meetings with them yesterday and today.”
Allen said Hard Rock is always considering ways to secure its future.
“We do recognize that long term, some type of strategic relationship with some of the brands that really have marquee value could be helpful to both of us. And we are receptive to those conversations.”
Could sports betting market open up in Florida?
It’s important not to read too much into the meetings. Allen made similar comments about partnering with outside companies earlier this year when discussing Florida online casinos
He said that Hard Rock is talking to operators and isn’t opposed to “strategic relationships.” Nothing more and nothing less.
Under the Florida gaming compact, pari-mutuel facilities can open retail sportsbooks as vendors of the tribe. The pari-mutuel must give 40% of its profit to the tribe.
It’s possible Allen could be referencing a partnership like that. Not a DraftKings sportsbook in the Sunshine State.
What is certain is that commercial operators would have to partner with the Seminole Tribe to offer sports betting in Florida. The US Supreme Court has assured that.