Monday’s announcement reveals the formula likely intended to be a first step blending Caesars and DraftKings gambling offerings into a single product.Īs with most partnerships of this kind, each company has something crucial that the other partner covets. Melding DraftKings and Caesars Entertainment

The two major DFS companies would need a partner such as a casino company or a racetrack to gain traction. As individual states set up sports betting rules, many are looking to begin licensure through brick-and-mortar properties, allowing mobile components to flow through those establishments and their partners. However, without any physical locations, it will be hard for online only companies to win this race. The extensive database of customers and the recent appointment of a sportsbook director by DraftKings is a move toward becoming a major player.

Here’s an excerpt of the Sport Handle forecast for the fortune’s of DraftKings and DFS competitor FanDuel, also from last March: The company, although very different than it was when it stood for luxury on the Las Vegas Strip, has name recognition, a brand name if you will, that is unmatched nationally.

However, the company lacks the online sports profile many competitors have and the recent financial difficulties the company has experienced would certainly stop them from allowing any serious financial exposure when it comes to sports betting. Because Caesars already has licensed brick-and-mortar casinos, theoretically they might be able to start taking sports wagers as quickly as anyone else.

While lacking an aggressive profile in Nevada in recent years, the company already has a major foothold in numerous states where sports betting legislation has crossed or is nearing the finish line. That’s before PASPA was repealed in June: Here’s part of a forecast regarding Caesars Entertainment from a Sports Handle handicap of the prospective sports wagering marketplace published last March. There’s little mystery and less surprise about Monday’s announcement that Caesars Entertainment, one of this nation’s largest casino operators, is taking an equity position in the leading Daily Fantasy Sports (DFS) company, DraftKings.

What casinos are owned by caesars