{"id":14375,"date":"2025-08-07T10:33:55","date_gmt":"2025-08-07T10:33:55","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=14375"},"modified":"2025-08-07T10:33:55","modified_gmt":"2025-08-07T10:33:55","slug":"flutter-entertainment-treads-carefully-in-nevada-denies-kalshi-deal","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/flutter-entertainment-treads-carefully-in-nevada-denies-kalshi-deal\/","title":{"rendered":"Flutter Treads Carefully in Nevada, Denies Kalshi Deal"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2021\/04\/flutter-entertainment.jpg\" alt=\"Flutter Entertainment\" width=\"300\" class=\"alignright size-full wp-image-11555\" title=\"Flutter Entertainment Treads Carefully in Nevada, Denies Kalshi Deal\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Flutter Entertainment told Nevada regulators it has no current plans to expand FanDuel operations in the state. <\/li>\n<li>The company is still assessing its opportunities in the Silver State.<\/li>\n<li>Executives denied entering into any agreement with prediction market operator Kalshi.<\/li>\n<\/ul>\n<p>Global gaming giant \u201c<em>leading betting and gaming into the future<\/em>\u201d, <strong>Flutter Entertainment<\/strong>, doesn\u2019t seem to be rushing to get into <a href=\"https:\/\/www.legitgambling.com\/us\/states\/nevada\">Nevada<\/a>. However, they\u2019re not quite ready to fully close the door just yet. <\/p>\n<p>In a meeting with the Nevada Gaming Control Board on Wednesday, company executives made it clear that while they have zero active plans, they will continue observing all potential opportunities in the state, with special emphasis on the FanDuel brand.<\/p>\n<p>\u201c<em>There\u2019s nothing currently on the table<\/em>\u201d, explained group finance director <strong>Mark Irwin<\/strong>, adding the company is constantly \u201c<em>evaluating whether expansion in Nevada might be appropriate<\/em>\u201d.<\/p>\n<p>Irwin also took the opportunity to speak about <strong>Flutter\u2019s strong <a href=\"https:\/\/www.flutter.com\/media\/lzxixpwb\/flutter-2024-10-k.pdf\">financial results in 2024<\/a>, with $14 billion in revenue<\/strong> and $2.4 billion in adjusted EBITDA. <\/p>\n<p><strong>FanDuel<\/strong> is still the leading <a href=\"https:\/\/www.legitgambling.com\/us\/legal-us-online-betting-sites\">online sportsbook in the U.S.<\/a>, with growth continuing into the first quarter of 2025. For now, FanDuel\u2019s presence in Nevada is limited by a branding and oddsmaking partnership with Boyd Gaming\u2019s Fremont Hotel &#038; Casino in Las Vegas. <\/p>\n<p>The company\u2019s active license allows it to offer information services, but FanDuel also holds a manufacturer and distributor license that is yet to be used. Any sportsbook expansion in the state would require a brick-and-mortar location, given Nevada\u2019s in-person registration rules.<\/p>\n<h2>Shutting Down Kalshi Rumors<\/h2>\n<p>Irwin and Flutter\u2019s legal counsel, <strong>Erica Okerberg<\/strong>, also addressed recent speculation regarding FanDuel potentially exploring a deal with prediction-market company <a href=\"https:\/\/www.legitgambling.com\/news\/kalshis-prediction-market-surges-with-close-to-250m-in-ncaa-contracts\/\"><strong>Kalshi<\/strong><\/a>. <\/p>\n<p>The latter is currently locked in a legal battle with Nevada regulators for offering contracts on sports outcomes at the start of the year, for which it received a cease-and-desist order. <\/p>\n<p>In response, Kalshi filed a federal lawsuit, arguing that its operations are regulated by the federal Commodity Exchange Act.<\/p>\n<p>Okerberg told the Board,<\/p>\n<blockquote><p>There were media reports around that and the company has not entered into any transaction or agreement with Kalshi. Like other gaming operators, they continue to monitor the litigation and regulatory matters. If there were any change in that position, we would speak with the Gaming Control Board about it.<\/p><\/blockquote>\n<p>Board member <strong>George Assad<\/strong> didn\u2019t mince words, calling Kalshi\u2019s business \u201c<em>illegal<\/em>\u201d in Nevada and dismissing the notion that wagering on sports outcomes qualifies as trading commodities.<\/p>\n<p>\u201c<em>Whether Duke will win the NCAA Tournament is not a commodity<\/em>\u201d, Assad said pointedly. He also reminded Flutter that a court decision protecting Kalshi from enforcement is only a preliminary injunction. <\/p>\n<p>\u201c<em>A word to the wise \u2014 and take that back to the Flutter powers that be<\/em>\u201d, he said, to which Iwin replied, \u201c<em>Duly noted<\/em>\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: Flutter Entertainment told Nevada regulators it has no current plans to expand FanDuel operations in the state. The company is still assessing its opportunities in the Silver State. Executives denied entering into any agreement with prediction market operator Kalshi. Global gaming giant \u201cleading betting and gaming into the future\u201d, Flutter Entertainment, doesn\u2019t seem to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,2,8,1],"tags":[],"class_list":["post-14375","post","type-post","status-publish","format-standard","hentry","category-finance","category-legislation","category-sports","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Flutter Treads Carefully in Nevada, Denies Kalshi Deal<\/title>\n<meta name=\"description\" content=\"Flutter Entertainment is not currently seeking to expand in Nevada, but it\u2019s not completely shutting down the idea either.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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