Caesar’s Entertainment Expands its Footprint to Sports Betting

 

Caesar’s Entertainment recently announced a significant “strategic investment” in SuperDraft Inc., a fantasy sports platform.

Though neither party has revealed how much Caesar’s paid for its investment, but it has currently bought a minority stake in SuperDraft. While the initial investment may not blow anyone away, it opens the door for some serious disruption of the sports betting landscape.

SuperDraft is a daily fantasy sports game in the same vein as DraftKings or FanDuel. The terms of the deal allow Caesar’s to buy a bigger stake in the company if it decides to do so, up to a 100% stake, or complete ownership.

The exact timetable involved also hasn’t yet been publicly revealed.

Caesars CEO Tom Reeg said the “addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports,” adding that the stake will give his company access to a popular platform, enabling more flexible fantasy team building.

In this MarketScale Industry Update, hosts Daniel Litwin and Tyler Kern talk about the implications of this move, particularly as it concerns the widening of Caesar’s influence – by going under the guise of “fantasy sports,” is the company really just getting into more wallets? Time will tell.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

Turo is Decentralizing the Car Rental Industry. But Can it Scale?
September 24, 2021
 Since the start of summer, the car rental industry has been trying to maneuver a mass car shortage. Because of the global semiconductor shortage, automotive OEMs slashed car production at the Read more
How UK Companies Can Cross the Pond to Success in an American Market
September 24, 2021
 Post-Brexit, the U.K. is eager to fill the void of the European Union's single market and tax reliefs with fresh free trade agreements. This included discussions with the U.S., which moved forward Read more
Exploring AT&T’s Commitment to Renewable and More Efficient Energy Use
September 24, 2021
“Since 2010, we’ve completed over 100,000 energy efficiency projects.” How are key stakeholders driving change in energy? Many are forging a path to renewable energy, carbon neutrality, and leveraging data and Read more