There is no need for Virginians to question whether the state’s ninth licensed sportsbook, Golden Nugget Virginia, will start accepting bets. They can be assured that Golden Nugget Virginia is fully committed to Old Dominion by backing it up with their investment.
The forthcoming sportsbook in Virginia has committed to donating $1 million right away to the five HBCUs (Historically Black Colleges and Universities) in the state. Furthermore, it has made a long-term commitment to allocate a portion of its revenue indefinitely towards the same cause.
This is a clear indication that the company is fully committed to VA.
Golden Nugget Virginia partners with HBCUs
Soon, Golden Nugget will provide $200,000 to Hampton University, Norfolk State University, Virginia State University, Virginia Union University, and the Virginia University of Lynchburg.
The same group of institutions can expect an annual additional contribution from Golden Nugget, amounting to either 4% of gaming revenue or a minimum of $500,000.
Additionally, the gaming company intends to establish internship programs in collaboration with universities. Moreover, Golden Nugget has partnered with Virginia Sports Technology Group, a minority-owned firm based in VA, to promote its products within the commonwealth.
Overall, it appears that the company has moved forward after not being selected by the City of Richmond for a possible casino license.
In March, Golden Nugget was granted a sports betting permit along with two other parties. Despite this, Golden Nugget has not commenced operations in VA, possibly due to its recent acquisition by DraftKings.
Although it is a subsidiary of DraftKings, the brand intends to participate in Virginia’s market competition. The specific timeline for its launch remains uncertain, as does the nature of its product offering.
Will Golden Nugget find gold in Virginia’s hills?
Golden Nugget has achieved significant success in the realm of online gambling, but it is important to note that its triumph lies primarily in the domain of online casinos rather than sports betting. Particularly in New Jersey, Golden Nugget stands as one of the most prosperous online casino brands, to the extent that it caught the attention of DraftKings. Moreover, the company has also experienced remarkable achievements in Michigan.
However, despite operating in the same states, the sportsbook has struggled to capture a significant market share. For instance, in Michigan, during the month of June this year, it was among the two online sportsbooks that generated less than $1 million in handle.
It is currently too soon to predict how DraftKings will handle Golden Nugget in a market where its main sportsbook is already established. However, based on the available information, it appears that DraftKings plans to treat Golden Nugget as an entirely independent offering. This implies a few possible outcomes.
There is a possibility that shared rewards programs or wallets, similar to those seen by NJ online casino players in the BetMGM and Borgata brands, may not be available. Although the promotions on both apps might be similar, it is improbable that they will be exactly the same.
DraftKings is optimistic that Golden Nugget Virginia will successfully attract customers away from its current rivals, ultimately benefiting the HBCUs in Virginia as well.
Related Articles
