FanDuel Sportsbook to Close PHX Arena Location
FanDuel Sportsbook has announced that it will close its downtown Phoenix location at the PHX Arena on July 24 and replace it with a lounge space.
LISTEN TO THIS ARTICLE:The company shared the news on a display outside the PHX Arena facility, noting that in-person betting would cease on July 24 as the space transforms into a FanDuel lounge.
The venue opened on September 9, 2021, the same day Arizona legalised sports betting. It has five betting windows, 26 kiosks, multiple TVs, and an outdoor terrace offering a bar and dining options. The site is accessible from the street or arena, with security measures in place, including metal detectors and ID scanning.
However, its revenue hasn't been impressive, paling in comparison to the earnings generated by FanDuel’s online platform. As mobile betting gains popularity, fans increasingly prefer wagering on their phones over visiting in-person betting locations. This has generally led to declining foot traffic and revenue at physical sportsbooks.
Despite the sportsbook's closure, the Phoenix Suns and FanDuel's partnership will continue, as fans will still be able to catch betting promotions and odds updates at the venue.
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Streaming and Online Segment Propel FanDuel's Growth
While the Phoenix Suns sportsbook didn't meet expectations, FanDuel's streaming platform, FanDuel Sports Network, has attracted a large subscriber base and partners with 13 NBA and 9 MLB teams.
FanDuel, which currently holds the largest share in the US online gambling market, is also reaching new heights with its online casino. In May, the operator launched its progressive jackpot system FanDuel Casino Jackpots in New Jersey, Michigan, and Pennsylvania.
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