Caesars Enters Sports Betting Partnership with DraftKings
DraftKings’ wheeling and dealing 2019 continues with a brand new massive partnership with Caesars Entertainment Corporation.
According to an official press release Caesars will now “offer DraftKings market access for its online gaming products, subject to passage of applicable laws and the parties securing applicable gaming licenses. DraftKings' market access is exclusive to Caesars across certain states in which Caesars operates casino properties.”
The following tweet made the news known to social media as two giants in the American gambling industry (one established and one on the rise) came together for the agreement, which could have big ramifications for the U.S. sports betting industry.
Let the games begin! @DraftKings and Caesars Ent. have reached an exclusive agreement where we will provide DraftKings market access to our online gaming products, subject to passage of applicable laws and securing applicable gaming licenses.https://t.co/LEG9R53xvypic.twitter.com/n1vptWYXYx— CaesarsEntertainment (@CaesarsEnt) February 25, 2019
Caesars Prepares for Expansion
Caesars will be the official casino resort partner of DraftKings and we’ll see the fruits of that partnership most evidently in states where sports betting is currently legal and, obviously, both companies run operations and facilities.
DraftKings’ well-documented success so far in the New Jersey market prompted Caesars to throw its figurative hat into the ring with the company and its vast database of daily fantasy customers.
Owning and operating over 50 casino hotels and other gambling facilities around the globe, Caesars is one of the most respected names in the gambling industry and this can only help to expand that brand across more U.S. states.
Mark Frissora, President and CEO of Caesars Entertainment, said that the deal will allow for the company’s vast collection of gambling-related data to be put to use developing new sports betting products.
”Caesars’ agreement with DraftKings, their first multi-state partnership, brings together the established leaders in gaming, daily fantasy sports and sports betting to provide customers more options. 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.”
DraftKings Continues to Strengthen Brand
This move is significant for DraftKings due to its tremendous growth after taking the initiative on sports betting in America, particularly New Jersey. The company’s experience providing daily fantasy and becoming a household name in that industry has allowed it to quickly rise as a major sports bookmaker and a leader in the Garden State.
Jason Robins, CEO and Co-Founder of DraftKings, was thrilled with the deal as it will no doubt improve the strength of his own brand to partner with such a ubiquitous name like Caesars.
“Partnering with such a world class gaming organization will expedite our national roll-out process and give us the opportunity to work alongside one the largest and most established industry leaders in the world. We look forward to collaborating with Caesars Entertainment on creating the most innovative and engaging sports and entertainment products and events for our customers.”