Draftkings agrees multi-state deal with Caesars

Caesars Entertainment Corporation and DraftKings have entered into an exclusive agreement in which Caesars will provide DraftKings market access for its online gaming products across certain states, subject to passage of applicable laws and securing the applicable gaming licenses.

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

DraftKings will promote Caesars Entertainment as its official casino resort partner in those select States. Caesars Entertainment will receive DraftKings equity while continuing its own offer of branded sports betting and online casino apps in these jurisdictions. Caesars will also maintain its own primary access in all states according to regulation under the agreement.

“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,” added Jason Robins, CEO and Co-Founder of DraftKings. “We look forward to collaborating with Caesars Entertainment on creating the most innovative and engaging sports and entertainment products and events for our customers.”

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