US online gambling operator FanDuel has unveiled plans to invest at least $15 million into opening an office in Atlanta that would be focused on product development and technology operations.
The company will hire more than 900 people as part of its newest expansion initiative, it also emerged on Tuesday.
FanDuel is owned by Dublin-headquartered retail and online gambling powerhouse Flutter Entertainment.
In 2018, Flutter combined its US operations with FanDuel to better position itself in the nation’s then young regulated sports betting field. The larger gambling group purchased 58% of the other operator back then.
Late last year, Flutter exercised and option to buy a 37.2% stake in the sports betting company ahead of a previously agreed July 2023 schedule, raising its holding to 95%.
FanDuel is the largest sports betting operator in the US by revenue. The company’s digital platform offers wagering services in 10 states. It also runs physical sportsbooks at casinos in a number of states. The firm says it has more than 12 million customers. It is headquartered in New York and has offices in Los Angeles, Orlando, and Scotland.
The company currently doesn’t offer its wagering products in Georgia as the practice is illegal in that state. Atlanta’s four professional sports teams and multiple pro-gambling lobbyists pushed for the legalization of sports betting this year, but state lawmakers balked at the effort.
New Office to Be Located in Midtown Atlanta
FanDuel’s new office is set to be located somewhere in Midtown Atlanta. However, economic development officials said this week they don’t know yet where exactly. And since these details remain unknown, officials further said they also don’t know how much the gambling operator is set to get in state, county, and city incentives. Georgia has promised job-training assistance, it became known.
FanDuel revealed that it would look to the state’s public and private universities to introduce courses to train future employees. The company plans to actively recruit staff on local campuses.
It would make sure to provide resume-building workshops as well as mentorships for Georgia residents seeking to join the company’s ranks. FanDuel CPO Sarah Butterfass said the diverse talent pool in Atlanta was what has attracted them to the state’s most populous city.
In separate news, Flutter said in March that it was mulling a listing of FanDuel after reports that it was under pressure to consider different options for its US business as investors were frustrated over how it has been trading.
The gambling powerhouse, whose other brands include Paddy Power, Betfair, and PokerStars, said that it was considering a listing of “a small shareholding” in FanDuel in the US as part of its regular evaluation of its “organizational and capital structure to assess how best to position itself to deliver upon the group’s strategy.”
Source: Gambling firm FanDuel investing $15M, hiring 900 in Atlanta, AP News, May 19, 2021