Caesars Go For Fantasy Online Sports
As the land based casino industry continues to struggle through the global pandemic Caesars Entertainment continues to look at diversifying its business with another major investment this time into daily sports fantasy platform SuperDraft.
Superdraft the New Hampshire-based firm offer seven professional sports in more than 35 states across the US and although the involvement by Caesars according to the announcement is small at present it also allows the casino giant to increase its stake up to 100% over a period of time.
It has not announced how much Caesars has spent on the stake in the fantasy sports company but Caesars CEO Tom Reeg said, “The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports.”
Only last year did Caesars acquire UK Bookmaker William Hill for £2.9 billion so the US operator to increase its presence into the expanding sports betting industry.
This latest announcement follows on also from another US casino operator MGM Resorts who were interested in online gaming company Entain but ultimately failed as the bid of £8 billion undervalued the business said Entain.
However it shows the strong desire from casino operators state side for a more diverse gambling offering while the land based industry continues to struggle.
