Flutter Entertainment-owned FanDuel Group has entered a strategic business agreement with The Cage Companies to launch online and retail sportsbooks in South America and the Caribbean.
Under the arrangement, FanDuel and the supplier’s Cage Sports subsidiary will operate sportsbooks at retail locations and online across both regions.
The partners will begin to roll out sports betting in the first half of 2021, initially in Bermuda and Barbados, with the aim of expanding this to other locations in the Caribbean, as well as in South America later in the year.
“We see sports betting and mobile gaming as a key driver of growth for the Cage Companies,” Cage Companies’ co-founder and chief executive Robert 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.”
Robert Johnson, founder of The RLJ Companies – majority owner of Cage Companies – added: “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.”
“This agreement will also provide new jobs and significant recurring revenue for the governments we serve.”
FanDuel currently operates retail sportsbooks in 11 states across the US, as well as online sports betting in eight, with plans to launch online in both Michigan and Virginia in the coming months.
This week, FanDuel relaunched its West Virginia online sportsbook with Scientific Games’ OpenBet, the first state to launch on the platform after Flutter announced plans to migrate the brand to the solution.