The Stardust Resort and Casino, long a staple of the Las Vegas Strip but permanently closed on November 1, 2006, is making a ghostly reappearance on the Internet as an online casino brand, according to a press release from Boyd Games Company (NYSE: BYD) issued this morning. Boyd partners with online fantasy sports, sports betting and gambling company FanDuel Group, now a subsidiary of DraftKings, Inc. (NASDAQ: DKNG), to relaunch the brand in April in Pennsylvania and New Jersey.
The original Stardust opened in 1958 on the Strip, changing hands several times. The Boyd family purchased the Las Vegas landmark in 1985, although revenues gradually declined as the casino grew outdated and small compared to the new gambling facilities that surrounded it. The casino was demolished in 2006, and its successor, Resorts World Vegas, is set to finally open in the summer of 2021.
Players from Pennsylvania and New Jersey will access the online casino through the same Stardust Casino app, although each state apparently has its own online casino infrastructure. The Pennsylvania Stardust is a new launch, while the New Jersey Stardust is a re-brand of Betfair.
The launch uses FanDuel’s online gaming platform. Boyd Gaming CEO Keith Smith said his company was “confident that this legendary brand” will provide gamers with “a distinctive online gaming experience.” FanDuel President Amy Howe said the online casino features “a sleek new look that captures the glitz, glamor and nostalgia of old Las Vegas.” Baccarat, poker, slots, roulette, blackjack and live dealer games will be included in the lineup.
Boyd Gaming and DraftKings are trading higher this afternoon after the announcement. Wall Street appears more satisfied with the partnership than it has with several of DraftKings’ recent alliances, including a non-exclusive deal with mixed martial arts (MMA) organization United Fighting Championship (UFC), which has cost the online sports betting operator over $ 100. million.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.