First Application Filed to Operate Regulated Fantasy Sports in Nevada
Dec 08, 2015, 06:00 ET
LAS VEGAS, Dec. 8, 2015 /PRNewswire/ -- American Gaming Association Hall of Famer, Vic Salerno, has applied to the Nevada Gaming Commission for an off-track, pari-mutuel Sports System Operator's license. The license, if approved, would enable Salerno's new company, US Fantasy (USF), to be the first to offer fans a full variety of Fantasy Sports contests through casinos within Nevada. Salerno and/or his companies have been previously licensed in Nevada over 100 times as the leading provider of sports book operations and sports wagering systems through his American Wagering, Inc. and its subsidiaries.
Pending approval by Nevada Regulators, USF contests would be offered as an intra-state skill game utilizing the trusted integrity of pari-mutuel systems. The ease and flexibility of the USF system allows contestants to quickly assemble fantasy teams to their very own particular strategy. USF contests are compelling, easy, fair, and transparent, providing a level playing field for both the casual and hardcore sports fans. Unlike the recently developed Daily Fantasy Sports (DFS) contests created by Fan Duel, Draft Kings, or Yahoo, the USF format is specifically designed for regulatory oversight. US Fantasy immediately provides a practical solution to the current issues surrounding DFS.
States such as California, Florida, New York, Massachusetts, Pennsylvania and others are actively seeking a regulated consumer protected fantasy sports solution. US Fantasy provides a turnkey answer and will work with each state's regulatory agencies, existing racetracks, OTB's, casinos, and lotteries to integrate easily adaptable fantasy contests into their jurisdictions.
Contest entries can be played through traditional terminals at brick and mortar facilities or with mobile devices and online. Consumer protections are in place for online or mobile applications utilizing geo-location, age verification, money laundering controls and segregated player cash accounts. Where possible, the company hopes to comingle contest pools among the states to create mega-contests.
Fantasy Sports participation has proven to be an attractive offering to a much younger, broader audience than usually frequents todays pari-mutuel facilities and presents a unique opportunity for the industry. New revenue, added jobs and expanded facility usage should be expected after incorporating US Fantasy's outstanding, related product offering.
Subjecting Daily Fantasy Sports content and its business structure to the same established regulatory compliance requirements of Nevada's race and sports wagering industry, Salerno is certain that fans and regulators alike will have greater respect and trust in the exploding DFS business. "Our unique contests figure to dramatically grow the popularity of fantasy sports in Nevada. We strongly anticipate increased customer traffic and revenue for the host casino properties and a taxable benefit for the State."
The team Salerno has assembled has countless years of experience in sports regulated gaming markets. Heading up operations is Mike Knapp, a veteran race and sports executive with work experience at California Racetracks, Nevada casinos and Online gaming markets. "We have created an exciting library of innovative contests geared to a clearly under-served consumer. Complementing the exceptional game making capability, the team has been instrumental in the development and introduction of innovative computerizing sports systems, self-service kiosks, and mobile sports applications. I believe we have the talent to bring a revolutionary process to the fantasy sports industry. Our hope is to have the Nevada license in place and offer our distinctive Fantasy Sports Games before the 2016 NFL season."
Salerno is the former CEO of American Wagering, which supplied the sports wagering systems for Wynn Resorts, Caesars Entertainment, MGM Resorts and William Hill, U.S. and was President of Leroy's , Nevada's first and largest network of race and sports books.
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SOURCE US Fantasy