DraftKings partners Passamaquoddy Tribe for online sportsbook launch in Maine

DraftKings plans to launch its online sportsbook in its 25^th US state after agreeing a partnership in Maine with the Passamaquoddy Tribe.

Subject to licensing and regulatory approvals, DraftKings could launch its sportsbook in the state when the market opens this Friday, after the Maine Department of Public Safety adopted formal rules for sports gambling yesterday.

“Building a relationship with the Passamaquoddy Tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” said DraftKings CEO and co-founder Jason Robins. “We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of the Passamaquoddy Tribe and launch in our industry-leading 25th state.”

Passamaquoddy Tribe chief William Nicholas added: “The Passamaquoddy Tribe is excited to enter into a mobile sports wagering agreement with DraftKings. We couldn’t have landed a better organization in the mobile sports wagering arena, and we look forward to continued progress and investment for future growth in the state of Maine.”

Caesars Entertainment has agreed online sportsbook deals with the state's three other Tribes - the Maliseet, Mi’kmaq and Penobscot Tribes.

Shares in DraftKings Inc (NASDAQ:DKNG) were trading marginally higher by 0.36 per cent at $27.75 per share in New York earlier Wednesday.