A Boston based Daily fantasy sports contest provider, DraftKings extending its US Process of online sports betting and casino gambling has signed a multi-year partnership deal with Caesars Entertainment.
With the association with Caesars Entertainment, which operates casinos in 13 states, it will render grand opportunities to DraftKings tap vigorously US based Betting market. As a part of the deal, Caesars will receive an undisclosed equity stake in DraftKings.
In those states where online sports betting and casino are allowed, DraftKings would still need to secure appropriate licensing and having a partner like Caesars will be great advantages.
“Partnering with such a world class gaming organization will expedite our national roll-out process and give us the opportunity to work alongside one of the largest and most established industry leaders in the world,” DraftKings CEO and co-founder Jason Robins said in a release announcing the deal.
DraftKings currently operates sportsbooks in Mississippi and New Jersey and is looking to expand into other states that authorize sports betting.
As part of the agreement, DraftKings will promote Caesars as its “official casino resort partner” in states where the companies collaborate. Caesars can continue to offer its own sports betting and online casino, according to the release.
“This alliance is the latest initiative by Caesars to capitalize on our database, generate a new revenue stream in a growth market and raise our profile in sports, in part by creating new sports-themed guest experiences at our resorts across the country,” Caesars Entertainment president and CEO Mark Frissora said in the release.
Caesars Entertainment is the world’s most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars, Harrah’s and Horseshoe brand names. Caesars Entertainment’s portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment.
DraftKings is a global sports technology and entertainment company that believes life is more fun with skin in the game. Its mission is to bring fans closer to the games they love via a unique combination of daily fantasy sports, sports betting and media platforms that, combined, deliver “The Game Inside The Game.” Founded in 2012 by Matt Kalish, Paul Liberman and Jason Robins, DraftKings is headquartered in Boston, MA, and offers daily fantasy sports contests across 11 professional sports in 8 countries including the U.S., Canada, U.K and Australia. Operating pursuant to state regulations in New Jersey and Mississippi, DraftKings Sportsbook mobile and retail, allows players in the state to engage in betting for major U.S. and international sports.