Caesars Entertainment is expanding its online presence through daily fantasy sports.
On Monday, Caesars announced a strategic investment in SuperDraft, a privately held company based in New Hampshire.
Caesars, the country’s largest gaming operator, will take an “initial minority equity position” in the DFS provider. The company has the option to increase its stake over time, up to 100%, at predetermined levels, according to a news release.
Caesars Rewards and SuperDraft are proud to announce a groundbreaking partnership to bring you a daily fantasy sports experience that will transform the game forever. https://t.co/4yQv9KjXGG
— SuperDraft Daily Fantasy (@superdraftdfs) January 25, 2021
Caesars connects to DFS users
The gambling giant is one of several casino operators looking to reach new customers by capitalizing on the growth of legal sports betting and online gaming. Daily fantasy sports, the company says, does just that.
“The investment complements Caesars’ strong mobile sports and gaming network by adding an innovative fantasy sports platform, further strengthening its pipeline to customer acquisition and retention for both online and brick-and-mortar,” the company said Monday.
And Caesars is in the process of acquiring U.K.-based sports betting operator William Hill. It already owns roughly 20% of William Hill U.S.
SuperDraft ‘fits seamlessly’ with Caesars
SuperDraft is still fairly new on the daily fantasy sports scene, launching in 2019. The operator provides contests covering seven professional sports in more than 35 states.
Caesars CEO Tom Reeg said adding daily fantasy sports “fits seamlessly with our strategic vision for mobile and online sports.”
“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.”
To kick-off the partnership, Caesars and SuperDraft will launch a $1 million tournament on Feb. 7 called the “Super Million Big Game contest.”
‘Fresh air’ for daily fantasy sports players
SuperDraft founder and CEO Steve Wang said the DFS provider is “super excited to be part of Caesars’ powerful gaming ecosystem.”
“Daily fantasy players deserve a breath of fresh air, and we’re here to transform the industry,” he said. “SuperDraft is now well-positioned to accelerate its growth with financial staying power, while broadening its consumer appeal with bigger contests and better rewards to players of all interest levels.”