Updates on California Sports Betting Operator Comments

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00:00 [MUSIC]

00:03 Where is California at with sports betting?

00:05 I'm seeing the sports betting operators and

00:07 comments coming out of California, Mike.

00:09 They are frustrated.

00:11 FanDuel now speaking out.

00:13 I mean, look, they all want, obviously they all want sports

00:15 betting to happen in California.

00:17 It keeps getting voted down.

00:19 I know the tribes are involved as well.

00:21 It feels like my state here, Mike, in the state of Florida.

00:23 So inevitably, here's what I think, Mike.

00:25 I think this is gonna get done, but

00:26 it just may not be anytime soon.

00:28 They'll figure it out one day.

00:30 >> Agreed, Craig.

00:32 And I think it was just eye opening, the way FanDuel went about this and

00:35 has gone about this, hiring executives with tribal experience.

00:39 A lot of links to San Manuel with Frank Sizemore and

00:43 Ricky Tannenbaum coming aboard as executives at FanDuel.

00:46 Really trying to mend that relationship that was a mess since Prop 26 and

00:50 Prop 27 failed miserably in 2022.

00:54 The tribes, again, came out at this conference that I was at and said,

00:57 we're gonna be the ones who decide when California sports betting happens legally.

01:02 You're gonna be our tech providers, not the operators.

01:05 Your brands aren't gonna be front and center.

01:07 That's really the question, right?

01:08 Everybody's kind of playing nice right now.

01:10 And FanDuel is the one that's at the forefront of learning from its mistakes

01:14 and saying we can't operate the way that we thought we could where we could just

01:17 come in the marketplace, spend a ton of money to try to get voters on our side.

01:22 That didn't work.

01:23 I mean, the prop failed.

01:24 I think it only got 18% of the vote, which is incredible.

01:26 Even the polling that they did showed they could get more.

01:30 So they've got a lot of work to do.

01:32 Everybody's gotta get on the same page.

01:33 First, the tribes, 110 of them have to figure out how they wanna share that

01:36 revenue, and then again, with FanDuel and DraftKings wanting to come in the

01:39 marketplace, can they get their brands out in front?

01:42 They're gonna want their brands in there.

01:44 Is there gonna be a monetary figure where the tribes acquiesce?

01:46 Because they came out, James Sieve of CNIGA, the chairman there, and said,

01:51 you're gonna be the B2B operators, basically.

01:53 You're not gonna have the B2C opportunities you have in other

01:56 jurisdictions.

01:56 So we'll see, the proof is in the pudding, right?

02:00 That's what Jacob Mejia said, one of the Pechanga tribal members said.

02:04 They've said all the right things right now, but when FanDuel and

02:06 DraftKings ask for their brands, and potentially the tribes say no,

02:10 are they gonna be okay with taking some sort of revenue split and

02:12 not having their brands front and center?

02:14 That's a question that remains to be seen, but Victor Rocha of the Indian Gaming

02:19 Association, their conference chair, he suggested 2026 retail and maybe 2028 mobile.

02:25 Now, obviously, that's a long time away, but there's a lot of work to be done here.

02:28 And I think it was really positive that FanDuel came out in front.

02:33 Christian Janeski, their president, had taken a ribbing at an earlier tribal

02:36 conference.

02:37 Amy Howe kind of took her lumps a little bit.

02:39 But they're saying all the right things, so we'll see when they actually have to

02:43 try to hammer something out, whether that relationship can be mended in time,

02:48 or whether it becomes contentious again.

02:50 But right now, everybody's playing nice, and we'll see where we go from here.

02:53 [MUSIC]

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