FanDuel acquired iGaming tech and software provider BeyondPlay in a deal announced Wednesday.
The strategic acquisition of BeyondPlay will further enhance FanDuel’s iGaming offering, which has become the No. 2 iGaming brand in the U.S.
BeyondPlay features a multiplayer engagement platform and jackpot management system with customizable jackpot options.
“This acquisition further strengthens FanDuel Casino’s leading customer experience, by adding BeyondPlay’s best-in-class jackpots and multiplayer technology,” said Asaf Nofield, managing director at FanDuel Casino.
BeyondPlay obtained supplier operating licenses in the UK, Malta, Canada, and Sweden but is set to become a part of FanDuel’s push to expand within the iGaming market in the U.S.
“Our U.S. strategy is about investing to win, and continuously improving our iGaming proposition for our customers is a key part of that,” added Nofield of the acquisition.
BeyondPlay’s team is set to join FanDuel as well. Nofield said he is looking “forward to working together to continue to grow our rising share of the U.S. iGaming market.”
Growing iGaming in the U.S.
FanDuel Casino is currently live in five U.S. states - Virginia, New Jersey, Pennsylvania, Michigan, and Connecticut - and grew its share of the market to 26% in Q4 2023.
The iGaming industry in the U.S. generated $6.2 billion in 2023 while only six states have active markets. This is a 23% year-over-year increase from 2022 as well.
A new study by Eilers & Krejcik Gaming (EKG) recently confirmed that five of the six states with both legal iGaming and brick-and-mortar casinos outperformed states that only have land-based casinos, with gross gaming revenue increasing after iGaming is introduced to the market.
BetMGM currently holds the top spot in the U.S. iGaming landscape, but FanDuel’s biggest rival DraftKings has also been investing more in the space. The Boston-based operator recently announced a $750 million acquisition of Jackpocket Inc., “the leading lottery app in the United States.”
iGaming seems to attract a younger, more diverse audience for gambling brands. In that EKG study, multiple CEOs highlighted the potential iGaming has for bolstering their businesses.
Penn CEO Jay Snowden was quoted in the study saying roughly 66% of its online casino players are new to itsecosystem or reconnected former patrons.
"The average age of these players is much younger than our core land-based player,” he said.
