A day after naming retired Chicago Bulls Hall of Famer Michael Jordan as an advisor to its board, sports betting operator DraftKings announced plans to pursue a retail sportsbook at Wrigley Field, home of the Chicago Cubs.
The Boston-based company said Thursday it was named the official sports betting partner of the Major League franchise, which includes developing a betting facility at the team’s iconic ballpark with online access available in the surrounding Wrigleyville area.
With sports betting now legal in Illinois, the development of a retail sportsbook would still require approval by the City of Chicago. Illinois, in its sports wagering legislation, allowed for sportsbooks to be operated at stadiums and arenas.
DraftKings operates a sportsbook in Illinois at Casino Queen in East St. Louis and mobile wagering in the state.
If given the go-ahead, Wrigley Field would mark the first Major League Stadium with a sports betting facility. William Hill US opened sports betting windows at the Capital One Arena in Washington D.C. – home of the NBA’s Washington Wizards and NHL’s Washington Capitals – and is building a full-scale sportsbook at the arena. Sports betting is legal in 18 states and Washington D.C., which at least four other states on the cusp of launching the activity this year.
“We are thrilled to align with the renowned Chicago Cubs franchise and iconic Wrigley Field to provide sports bettors in Chicago with a revolutionary sports betting experience,” DraftKings North America President Matt Kalish said in a statement. “We look forward to working in collaboration with the Cubs, an organization steeped in tradition, and making our presence felt in and around Wrigleyville.”
On Wednesday, DraftKings said Jordan, who won six championships as a player with the Chicago Bulls and is currently the majority owner of the NBA’s Charlotte Hornets, will receive an undisclosed equity stake in the company in exchange for providing strategic and creative input on various initiatives and issues.
The news of Jordan’s partnership with DraftKings sent the company’s stock price up 8% on the Nasdaq Wednesday.
The multi-year agreement with the Cubs makes DraftKings the official sports betting and daily fantasy partner of the franchise.
Chicago Cubs President of Business Operations Crane Kenney said the team decided to expand its longstanding relationship with DraftKings because of the growth of legal sports betting in Illinois.
“An increasing number of sports fans want to integrate sports betting into their game experience, and we’re excited to be one of the first to engage in developing a retail sportsbook at a professional sports venue,” Kenney said in a statement.
DraftKings currently operates retail sportsbooks in eight states.
Shares of DraftKings closed at $38.27 on Thursday, down $1.63 or 4.09%.
Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
