Caesars Entertainment and DraftKings announced a multi-state partnership on Monday that will allow the DraftKings Sportsbook access to states where Caesars Entertainment already has existing land-based casinos.
DraftKings Sportsbook is now live in Pennsylvania. Keystone State residents can now experience the game-changing features that have made DraftKings a powerhouse in the sports betting world. Elements like betting carousels, in-game betting, and live ticket systems are now available for Pennsylvanians to try. DraftKings is the sixth mobile sportsbook to launch in Pennsylvania to date and the second major daily fantasy provider to enter the market. Fellow fantasy operator / sportsbook FanDuel got to the finish line first after launching in July and now accounts for more than half the state’s online betting handle and revenue.
In return, Caesars Entertainment will receive an ownership stake in DraftKings and access to its customer database.
DraftKings has access to operate in 12 states
DraftKings will now have the ability to offer online gaming products like sports betting and casino games in states that have legalized those games and products. The company currently operates an online sportsbook and casino in just one state — New Jersey — while also running a retail sportsbook in Mississippi. Meanwhile, Caesars Entertainment operates casinos in the following 13 states across the U.S. Unfortunately for DraftKings, they’ll only have accee to 12 states.
- Arizona
- Louisiana
- Maryland
- North Carolina
DraftKings already operates in New Jersey with Resorts Casino. The deal with Caesars is very new, so there’s no word if it will change affiliation in the Garden State.
New states for DraftKings
DraftKings will have to apply for an online gaming license in states that Caesars operates and where sports betting and online gaming are legal. Caesars operates a casino in Chester, PA, which would have given DraftKings access to the 12 million residents in the Keystone State. Unfortunately, this deal doesn’t include access to Pennsylvania. That’s most likely because casinos may only be allowed a single skin when mobile betting becomes legal in PA.
DraftKings has a sordid past with Nevada. They’re part of the reason that Nevada residents can’t play traditional daily fantasy sports (DFS) contests. The Nevada Gaming Control Boardrequires DFS operators to have a gaming license.
The future in Nevada for DraftKings is currently unclear since the state doesn’t allow new customers to sign up for sports wagering accounts unless they do so in person at a casino sportsbook.
Iowa and Illinois are currently discussing plans to legalize sports betting. Depending on the legislation, those could be the next states to see DraftKings’ online sportsbook and casino games.
The Caesars side of the deal
Draftkings Sportsbook Pennsylvania
While DraftKings will gain access to new markets, there’s another side to this deal. Caesars Entertainment now has an equity stake in DraftKings. Caesars Entertainment will earn a piece of DraftKings’ gaming revenue in states where the partnership is active.
Draft Kings Sports Books
Additionally, DraftKings will promote Caesars Entertainment as its official casino resort partner in the states where the companies work together. This will provide marketing opportunities for Caesars Entertainment to potential new customers that might not be in the existing Caesars Rewards database of more than 50 million people.
Draftkings Sportsbook Pennsylvania
Caesars Entertainment will continue to offer their own branded sports betting and online casino apps in each of the states where they have casinos. This will continue to maintain their primary access in each state.
Draft Kings Sports Betting
On an earnings call last week, Caesars Entertainment’s CEO Mark Frissora said they are upgrading their New Jersey retain sportsbooks. They will be taking The Book concept that debuted at The Linq in Las Vegas to New Jersey later this year.