Caesars Entertainment Corporation has always been one of the biggest players in the Las Vegas casino industry. It will now try its hand at filling the same role in daily fantasy sports. It appears an ownership deal has been struck between the two companies.
Recently, Caesars Entertainment Corporation makes an announcement. Furthermore, they mention the partnership in terms of an equity stake in Draftkings Sportsbook. The actual amount Caesars paid for that stake was not released. The percentage of ownership was also undisclosed. Mark Frissora is the CEO and President of Caesars. As part of an official news release, he mentioned that this agreement should benefit both parties. He was quoted as follows:
When Does DraftKings Strike A Deal with Caesars Entertainment?
Indeed, “Caesars’ agreement with DraftKings Sportsbook. Moreover, their first multistate partnership brings together the establishes leaders in gaming, daily fantasy sports, and sports betting. This alliance is the latest initiative by Caesars to capitalize on our database, generate a new revenue stream in a growth market. Additionally, it raises our profile in sports. Also, in part by creating new sports-themed guest experiences at our resorts across the country.”
Yes, part of this deal with gives DraftKings an additional promotional opportunity to link the two companies. However, it has already agreed to present Caesars as its official resort partner. Moreover, in states where the two companies have the ability to collaborate their efforts.
Most importantly, Jason Robbins is the CEO and co-Founder of DraftKings. Furthermore, He says in the official news release as saying.
“Partnering with such a world-class gaming organization will expedite our national roll-out process. It will give us the opportunity to work alongside one of the largest and most established industry leaders in the world.
Current Nevada law prohibits pay-to-play daily fantasy sports games without a state gaming license. This agreement should open the market for DraftKings’ daily games all across the state with Caesars Entertainment Corporation holding an equity share of the company.
How Caesars Entertainment Corporation Can Help DraftKings
Caesars Entertainment Corporation is an American gaming corporation based in Paradise, Nevada. It owns and operates over 50 casino hotel resorts across the United State and into Canada. Furthermore, it also owns and operates seven resort golf courses. Also, it is registered and listed on the US NASDAQ Exchange as CZR. Its US destinations include Las Vegas, and Atlantic City. However, let’s not forget Lake Tahoe along with the Tunica and Gulf Coast regions in Mississippi.
Some of its newest ventures include Caesars Palace Bluewaters Dubai. Moreover, they include Caesars Palace Puerto Los Cabos (opening late 2020). Also, Harrah’s Northern California, which opens in 2019. Overall, this as part of its expansion plans.
Its Las Vegas holdings along with Caesars Palace include the LINQ Hotel & Casino, Planet Hollywood, Bally’s Las Vegas, Paris Las Vegas, Harrah’s Las Vegas, Flamingo, and Rio All-Suite Hotel & Casino.
Indeed, you can find DraftKings in Boston, MA. If you have an account, online members have access to daily and weekly fantasy sports contests. Furthermore, the base real money winnings individual player and team performances in five major American sports. Along with Robbins, Paul Liberman and Matt Kalish found the company in 2012. Also, It currently employs over 350 people.