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Caesars Entertainment Announces Multi-Year, Multi-State Deal with DraftKings Sportsbook

Caesars Entertainment Announces Multi Year Multi State Deal with DraftKings Sportsbook

After US Supreme Court struck down the federal prohibition against the states offering sports betting several entities have jumped in the industry to reap benefits and the latest to join the bandwagon is fantasy sports giant, DraftKings. It was learnt on Monday that DraftKings' prominence in the blooming market is going to expand. It has now locked a deal with Caesars Entertainment.

"Caesars will be offering DraftKings the market access for its online gambling products which is subject to passage of applicable laws and the parties securing applicable licenses."

"With this collaboration, now DraftKings will be promoting Caesars Entertainment as its official casino partner in the states and DraftsKings will be sharing equity with Caesars Entertainment."

Although they have not announced the share of stakes that Caesars will have in the deal or any terms and conditions of the agreement, both hope to benefit from each other.

"The agreement states that Caesars can continue offering their own branded sports betting and casino apps and the agreement also states that Caesars will maintain their primary access in all states." DraftKings are currently operating sportsbooks in Mississippi and New Jersey. Caesars also currently operate casinos in those states where sports betting is legal and his collaboration would clearly expand the vast reach of DraftKings where it could expand its offerings.

People of Georgia have started to think about the possibility of casinos coming to their state after the lawmakers and government officials of Georgia have vouched for opening of casinos.