DraftKings (DKNG) is set to launch in Arkansas after the Arkansas Racing Commission approved the company for licensure. The sports betting giant will go live in the state through a market access agreement with Southland Casino Hotel, pending final regulatory approvals.
While Arkansas online sports betting itself has been live since 2022 via locally branded platforms such as Betly, BetSaracen, and Oaklawn Sports, national online sports betting companies have been hesitant to enter the state because of the 51% revenue-share requirement that is still in place. Arkansas mandates that any third-party mobile sportsbook deal must give at least 51% of net sports betting revenue to the in-state casino partner.
The addition of Arkansas expands the access of DraftKings Sportsbook to more than 2 million adult residents in the state, increasing coverage of the product to 53% of the U.S. population. Arkansas will be the 30th U.S. state, in addition to Washington, D.C., Ontario, Canada, and Puerto Rico, where DraftKings operates regulated sports betting.
Shares of DraftKings (DKNG) were down 2.6% in premarket trading.