Caesars inks multi-state sports betting agreement with DraftKings

On Monday, the casino giant Caesars Entertainment announced it had entered into a multi-year, multi-state agreement with DraftKings.

With this agreement, DraftKings will have the opportunity to tap into gambling markets where Caesars has a land-based casino presence.

Under the agreement, DraftKings will also promote Caesars Entertainment as its official casino resort partner in the states where the companies work together.

In a press statement, Caesars stated that it will continue to offer its own range of online gambling products.

Jason Robins, CEO and Co-Founder of DraftKings said: “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.”

Mark Frissora, President and CEO of Caesars Entertainment said: “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.

Caesars currently operates in 14 different US states, four of which have legal sports betting operations. These states include New Jersey, Pennsylvania, Mississippi and Nevada.

DraftKings already operates an online sportsbook in New Jersey and a land-based sportsbook in Mississippi at the Scarlet Pearl Casino Resort. The fantasy sports provider turned sportsbook is also ramping up its Nevada operations after hiring Vegas oddsmaker Johnny Avello last year.

This partnership puts DraftKings in a strong position to offer legal online and mobile sports betting in Pennsylvania when the state rolls out online sports betting later this year.

DraftKings could also offer its online DraftKings Casino platform in the states where Caesars operates.

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