In a recent interview with CNBC’s Brian Sullivan, Tilman Fertitta argued that Golden Nugget is not the only equity that is most likely going to benefit from the momentum in the gaming industry in 2024. He also sees Wynn Resorts and DraftKings as sector companies in a very strong position, not least because of his own affiliation and investments in the entities.

Strong Year for Wynn and DraftKings Ahead, Shareholder Says

He noted that for as long as there was interest in gaming in Las Vegas, Wynn Resorts would always come on top. Of course, Fertitta is not only paying lip service to a direct competitor. He owns a 6.1% stake in Wynn Resorts which is understandably making him at least inclined to comment on the company.

His participation in Wynn is not just a way to hedge his portfolio against sudden shocks, but also a prelude to his grander ambitions to seek expansion with a casino resort in Las Vegas. Fertitta told Sullivan that he had not yet thought about acquiring Wynn Resorts, though, which has been speculated about extensively.

Fertitta’s bullishness on Wynn is somewhat justified by his purchasing the shares back in October for $87.21, which are now trading at $90.42 on the last trading day on December 22. This is a small but sustained gain and perhaps one of the reasons why Fertitta continues to exhibit outward confidence in the future of Wynn.

However, Wynn Resorts is not the only company he sees as a big winner moving forward. According to Fertitta, DraftKings is also in a very good position to enter the year on a high note.

The Industry to Be Concentrated in Four or Five Companies

Once again, Fertitta is speaking about a company he is familiar with as DraftKings bought Golden Nugget Online Gaming in a record-setting $1.56-billion all-stock deal which was finalized early last year.

Thanks to the alliance between the two, DraftKings and Golden Nugget Online Gaming can maintain a strong presence in both iGaming and sports betting. Fertitta is also confident that there will be only four or five companies that will end up dominating the entire industry – not just a state or two, but the entire United States and beyond.

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DraftKings CEO, Jason Robins, has expressed confidence in the company’s position in the online gaming market, stating that the recent launch of ESPN Bet does not pose a threat to DraftKings’ trajectory. 

DraftKings CEO Jason Robins Stresses Product Excellence

Speaking at the 3rd Annual Craig-Hallum Online Gaming Conference, Robins acknowledged the competitive landscape but emphasized DraftKings’ focus on maintaining a strong product and staying true to its playbook.

Despite the significant impact of ESPN Bet’s launch, with over a million downloads in the first six days, Robins remains optimistic about DraftKings’ market standing. He highlighted the company’s history of facing waves of competition and its ability to navigate through them successfully. Robins mentioned that ESPN Bet seems to be playing for the long term rather than making a short-lived splash, and he welcomed the potential for market growth brought by new players and innovations.

Robins stressed the importance of having the best product, citing it as a key factor in DraftKings’ ability to outperform in the market. He believes that a superior product leads to organic benefits in terms of customer acquisition and lifetime value. The CEO expressed confidence in DraftKings’ playbook, emphasizing that sticking to it will yield positive results regardless of competitive challenges.

Robins Unveils DraftKings’ Next Moves with Progressive Parlays, iGaming Success, and More

Looking ahead, DraftKings is set to launch progressive parlays in the coming weeks, offering sports bettors a chance to win consolation prizes even if all legs of their parlays do not hit. Robins sees this as a differentiated product that will meet customer demand.

On the iGaming front, Robins considers it a hidden gem for DraftKings, noting the company’s success in gaining market share, especially in the face of initial doubts about reaching close to 30%. He expressed enthusiasm about the untapped potential of iGaming, highlighting the company’s bullish stance and significant investments in the product.

Robins also briefly touched on the potential for international expansion and new product verticals in the longer term. While acknowledging these opportunities, he emphasized the current focus on the existing market and the upside within the United States, emphasizing the benefit of maintaining a singular focus:

“I think, we would be executing well anyway, but I have to say it is at least in part due to the fact that we are really focused on one geography and on winning there. And I think if you look at some of our competitors, they are not so or they are focused on other lines of business.”

In other recent news, DraftKings launched Pick6, a new peer-to-peer fantasy sports game available in six US states, including Maryland, Minnesota, Oklahoma, South Carolina, Tennessee, and Wisconsin.

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Now, though, the project is set to begin construction and to be finally completed by a 2030-set deadline. Osaka governor Hirofumi Yoshimura feels confident that there is nothing that would disrupt this progress or makee it harder for the project to succeed in the future.

Osaka Is Confident in Project’s Success Come What May

Of course, the new deadline for the project’s completion is already a far cry from what was hoped to be the original opening date set for 2025, when the Osaka-Kansai Expo will be taking place.

That time window was of course rendered unrealistic by a number of factors, among which the withdrawal of bidders, the shutdown of the global economy due to COVID-19 and not least, internal rifts and accusations of bribery and influence-peddling in Japan.

Yoshimura is confident that it has all been for the better, as he hailed the cultural significance of the prefecture and the area in general. Speaking to the public and quoted by Yahoo News, the governor said:

Kansai is an area very deep in history. Traditional Japanese culture is something you don’t get in Macau, Singapore, or South Korea. And those unique points are what we will promote from the resort.

Osaka governor Hirofumi Yoshimura

The future project will be built as a partnership between MGM Resorts International, a US casino giant, and Orix Corp, which is the local Japanese partner for the company. The estimated cost of the resort is not quite yet pinpointed but it will run into the neighborhood of $10 billion. The initial cost needed to be invested to start construction on Yumeshima, an artificial island in Osaka Bay, is put at almost $8 billion.

Opportunity for an Economic Boom

Japan has been keen to see this project through as it largely sees it as an economic boon waiting to happen. According to CLSA analyst Jay Defibaugh, the upcoming resort will have a significant impact on tourism and the economy, as similar projects had in places like Singapore.

Of course, not everyone is convinced that would be the case, with all but a few companies pulling completely out of the race and considering other opportunities. MGM Resorts International is pressing on with its own plans, however, and it will be a weathervane for the success of this undertaking. Should it prove successful, however, the race for the second license for an IR will be cut-throat.

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