Full House Resorts Expecting To Find Another Indiana Sports Betting Skin Deal

Full House Resorts has indicated that it plans to have three sports betting partners in the Hoosier State, and a company SEC filing on Tuesday indicated that the southern Nevada-based casino company may soon be ready to announce the third.

Full House, owner of the Rising Star Casino along the Kentucky border about 40 miles from Cincinnati, has already partnered with Churchill Downs Interactive Gaming and Smarkets for sports wagering. Under Indiana law, each casino licensee can have up to three skins for sports wagering. Full House confirmed this week that it plans to use the maximum allotted to it.

“The Company expects to sign two additional agreements with an online/mobile sports wagering partner over the coming weeks, with one related to mobile operations in Indiana and the other in Colorado,” said the regulatory filing. “At that point, the Company will have utilized all of its allowed sports wagering opportunities in those two states.”

Full House said it has already received $2 mm in cash from deals in Indiana.

The firm added that it will receive a share of net sports wagering revenues, with its portion of the revenues guaranteed to total at least $5 mm annually across the two states. Full House expects to have “minimal ongoing expenses related to these revenues.”

Furthermore, it indicated that its sports betting partnerships are for at least 10 years, potentially up to 20.

Colorado voters will decide in November whether that state should regulate sports betting.

Other partnerships for Indiana

Indiana online/mobile sports wagering is likely still a handful of weeks away, but many other properties in the state have already made moves to launch as soon as possible.

Some of the sports betting industry’s leading online gaming platforms/brands have found entry into the Hoosier State. More are expected to follow.

  • William Hill: Tropicana Evansville
  • FanDuel: Blue Chip Casino, Belterra Casino
  • Caesars Interactive Entertainment: Horseshoe Hammond
  • Churchill Downs Interactive Gaming: Rising Star Casino
  • Smarkets: Rising Star Casino
  • DraftKings: Ameristar East Chicago
  • Penn Sports Interactive: Hollywood Casino Lawrenceburg
  • Rush Street Interactive: French Lick Resort

PointsBet, theScore, and FOX Bet are additional providers that have access to the Indiana market under Penn National Gaming’s casinos in the state.

Tech providers such as Kambi, Bet.Works, and Scientific Games have market access under their own deals with licensing partners of Indiana casinos.

Retail sports wagering update

As of Wednesday, 15 brick-and-mortar gaming facilities across the state have been issued a temporary certificate of authority to conduct sports wagering.

A total of 13 have opened their respective retail betting operations, with the most recent being Winner’s Circle New Haven, a Caesars property, on Sept. 19.

Indiana gaming regulators have not tipped their hand for when online/mobile will begin, and operators are also tight-lipped about their respective launch dates.

The state of Iowa, which also legalized sports wagering this year, saw the launch of both retail and online/mobile during August. Indiana’s internet gambling launch has been delayed, relative to Iowa, but the Hoosier State is still expected to hit cyberspace in short order. The first online/mobile books could be up and running by the end of October.