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

restaurant sales black friday
Restaurant Sales Are Up, But Foot Traffic Is Down. Why Is That?
November 23, 2022
   The third quarter was a good quarter for chain restaurants. However, more sales do not necessarily translate into more customers. Lisa Miller, President, Lisa W. Miller & Read more
Deanna Baumgardner discusses diversity roles
High Turnover in Diversity Roles is a Reflection of Unrealistic Expectations
November 23, 2022
Diversity roles, specifically diversity and inclusion managers, have been the second fastest growing job title in the last five years according to LinkedIn. Yet, these positions are also experiencing a Read more
FCC Broadband Connectivity
New FCC Broadband Map Crowdsources Regulation of Broadband Availability
November 23, 2022
This week the Federal Communications Commission (FCC) released its new broadband availability maps to cheers from the larger telecom industry. With this new set of FCC maps, a huge win for Read more