One of the biggest casino operators that focuses on land-based casinos, Caesars Entertainment Corporation, has announced that they are about to sign a deal with DraftKings Incorporated that will help DraftKings have increased market access for their sportsbetting and daily fantasy sports.
The firm, which has headquarters in Las Vegas, issued an official press release on Monday, which explains in detail how the alliance between DraftKings and Caesars could benefit both companies. It will give Caesars an opportunity to use DraftKing’s gaming products across certain states where Caesars operates land-based casinos. The deal is a multi-year arrangement that aims to provide benefits not only for companies but also their customers. Furthermore, according to the deal, the relationship between the two companies will be “subject to the passage of time.”
The Executive Shared Their Thoughts
The Chief Executive Officer and President of Caesars Entertainment Corporation, Mark Frissora, stated that the deal was made in such a way that Caesars received “equity” in DraftKings Incorporated. In other words, Caesars will be listed as the official casino resort partner of this Boston-based innovator and that the two companies will collaborate in the states where this type of collaboration is possible.
Furthermore, Frissora added that the agreement reached between the two companies was described as a multi-state partnership and that it would bring the established leaders from the daily fantasy sports and sportsbetting industry that would help provide customers with more options. Frissora explained that the alliance was the result of the initiative by Caesars Entertainment Corporation, which had a goal to capitalize on their database, generate additional revenue streams, and raise their profile when it comes to sports. One of the additional ways to do that is to create brand new sport-themed experiences for guests at Caesar’s resorts all over the USA.
Finally, Frissora said that the partnership would allow his firm to continue offering their own branded online casino and sportsbetting apps in every jurisdiction where it was allowed. Furthermore, they would continue maintaining their primary access in every state as regulated under the agreement.
DraftKings was the first company to incorporate sports betting activities into their offer aster the sportsbetting ban was lifted. It was available for punters who live in New Jersey, and CEO Jason Robin was eager to expand their influence to other states as well. Therefore, one of the key steps that they have taken includes joining forces with Caesars in order to improve their offer. In other words, they have an opportunity to work with one of the most important land-based casino operators in the world, which is not a chance that many companies get. Robins stated that the deal with Caesars would help their “national roll-out process” happen much faster. The services offered by DraftKings will have an opportunity to reach potential customers in the parts of the US where that was not possible before.
Robins also issued an official statement where he said that they were looking forward to collaborating with Caesars Entertainment Corporation in order to create some of the most engaging and entertaining sports and customer-oriented events.
Two powerful companies are now working together and they have huge plans for the future. Both Caesars and DraftKings are eager to go all the way and revolutionize the way we perceive and engage in sports betting and casino games. For now, they are going to work closely together and see how to improve their businesses for the best, thus improving customer experience. Stay tuned to see how these two companies are going to work together in the future and what possible products can come out of this relationship.