J.T. Foley, a seasoned executive from Las Vegas Sands, has been appointed the first executive director of the Coalition for Fantasy Sports, marking a significant development for the organization.
Foley’s Strategic Leadership Advanced Sands’ Expansion and Influenced Gaming Legislation
During his tenure at Las Vegas Sands, Foley was instrumental in managing the company’s political activities and government affairs across multiple jurisdictions both domestically and internationally. His efforts were crucial in advancing Sands’ expansion projects and influencing gaming legislation in US states such as Pennsylvania, Florida, Kansas, Kentucky, Georgia, Texas, and New York.
Additionally, Foley played a key role in the 2016 legislation that facilitated the construction of Allegiant Stadium, now home to the Raiders and UNLV.
Foley expressed his enthusiasm about his new role, stating that he is eager to work with member companies to create the necessary laws for industry growth, reported the Las Vegas Review-Journal. He emphasized the coalition’s commitment to leading on consumer protections and sharing knowledge with emerging daily fantasy sports (DFS) providers to establish and maintain a safe and legal ecosystem.
The Coalition for Fantasy Sports comprises four fantasy sports companies: Underdog Fantasy, PrizePicks, Betr, and Dabble. Notably, major industry players FanDuel and DraftKings are not part of the coalition as they have diversified into other sports wagering products.
Fantasy sports, which involves participants creating virtual teams of real professional athletes whose performance is based on actual game statistics, has a significant following. In Nevada alone, there are an estimated 11,000 active fantasy sports players who collectively spend over $4 million annually.
Underdog’s Jeremy Levine Praises Foley’s Expertise in Growing Fantasy Sports Market
Jeremy Levine, co-CEO and founder of Underdog, commended Foley and said that his deep knowledge and experience would be a priceless asset in the face of an ever-growing daily fantasy sports market. He also expressed his optimism that under Foleys leadership, the group can reach its full potential while bringing some much-needed clarity into this space.
Meanwhile, Andy Abboud, who served as vice president of community affairs government relations at Sands Corp where he worked closely with Foley, said that all feel sad seeing Foley leave because no one else knows more about the business than him.
Although the Coalition for Fantasy Sports is based in Virginia, Foley will remain in Las Vegas. It remains uncertain whether he will pursue efforts to expand fantasy sports in Nevada, where the industry has encountered regulatory hurdles.
Foley has stated that he aims to allow millions of fans to enjoy fantasy sports without restraint and help the industry expand even further by collaborating with regulators as well as lawmakers across different states.