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FanDuel closes partnership with Cage Companies

FanDuel closes partnership with Cage Companies

FanDuel closed partnership with Cage Companies in the Caribbean and South America; stay in.

by Academia   |   comments 0
Tuesday, December 22 2020

This Friday, it was announced that the FanDuel Group closed a partnership with Cage Companies to launch the online and retail sports betting sector in the Caribbean and South America. In the agreement, the Group owned by Flutter Entertainment and Cage Sports (Cage Companies) will operate activities in the sector.

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FanDuel Group and The Cage Companies will launch sports betting in early 2021, targeting the first half of the year. The initial plans are to expand the locations in Bermuda and Barbados, to reach locations in the Caribbean and South America. However, in South America both companies intend to reach them by the end of the year.
The majority partner of Cage companies, Robert L. Johnson, commented that: "We are excited about implementing a sports betting business with FanDuel and believe that it will provide our customers with an engaging betting experience only our two companies can deliver". Johnson further added, "This agreement will also provide new jobs and significant recurring revenue for the governments we serve."

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The plans of the FanDuel Group and Cage are to operate over-the-counter sports betting across the Caribbean and South America, both at retail and online locations within that market. Expectations are high that this network will be active in the first half of 2021, reaching the long-term goal and expanding to other local Caribbean regions.
FanDuel CEO Matt King reported that: "We are proud to partner with a visionary business leader and entrepreneur in Bob Johnson and look forward to building a long-term collaboration together" Regarding the expansion, the CEO said: "Bob and the team at CAGE were the perfect partner to expand our industry leading footprint internationally."
Cage Companies co-founder, president and CEO Robert B. Washington, took the opportunity to comment: "We see sports betting and mobile gaming as a key driver of growth for the CAGE Companies," Regarding the deal, Washington said: "This dynamic agreement creates tremendous value, brand recognition and delivers world class products for the enjoyment of our customers and the financial benefit of the many small businesses that serve as our commission retailers."
It is worth to mention that FanDuel plans to launch the sports betting market in Michigan and Virginia online in the coming months. This new attitude foresees the growth of the market in 24% of the North American population. In addition, FanDuel Group operates in sports operations in 11 states in the United States. Sports betting covers eight states in the country.
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