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Caesars Entertainment announced an expansion into daily fantasy sports, as the company purchased a minority share of SuperDraft, Inc. A Monday press release lauded the move as a “strategic investment” for Caesars, which owns an option to purchase 100% equity in the SuperDraft DFS platform in the future.
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Under the terms of the partnership, Caesars Entertainment can incrementally acquire more equity in SuperDraft at pre-determined times. SuperDraft DFS currently operates in 35 states and adds a daily fantasy sports platform to the Caesars iGaming portfolio.
“The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports,” said Caesars Entertainment, Inc. CEO Tom Reeg. “SuperDraft’s innovative multiplier game mode is unique in the marketplace, and we believe it offers a tremendous opportunity to strengthen our position in the sports gaming landscape.”
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SuperDraft To Be Integrated Into Caesars iGaming Platform
The investment in SuperDraft allows Caesars Entertainment to add a DFS platform to its integrated iGaming platforms across the US. Brands under the Caesars banner already include Caesars Online Casino, WSOP.com, and William Hill.
With the addition of SuperDraft, players in multiple states will have access to a single wallet option that includes sports betting, online casino gaming, and daily fantasy sports. In states like New Jersey, Pennsylvania, and Michigan, Caesars should eventually add the SuperDraft DFS platform to their already operating iGaming sites.
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SuperDraft celebrates the new partnership with the biggest DFS contest ever offered on the platform. The SuperMillion Big Game contest guarantees $1 million and runs Sunday, Feb. 7.
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This deal is the second this week that sees a major company acquiring a daily fantasy sports platform. Earlier this week, Bally’s announced that it will acquire DFS site Monkey Knife Fight. Based on this acquisition plaus Caesars’ deal with SuperDraft, it appears major sportsbook operators are filling out their portfolios by adding DFS offerings.