The amount of the deal was not disclosed.
With the investment, Caesars takes an initial minority equity position with an option to increase its stake over time up to 100% at pre-determined levels. The deal aims to complement Caesars’ mobile sports and gaming network by adding a fantasy sports platform, further strengthening its pipeline to customer acquisition and retention for both online and brick-and-mortar. SuperDraft will join the company’s online brands, World Series of Poker, Caesars Online Casino, and, upon the acquisition’s close, William Hill, as part of a full slate of mobile and online gaming channels.
Online casinos are taking an always bigger market share out of the total global industry and people are shifting more towards it because of its ease of use and availability over smartphones. Outside the USA, the global sector is growing in Europe and Asia (including mobile casino in India‘s industry).
Led by Steve Wang, CEO & Founder, and Nate Hunter, CTO and Co-Founder, SuperDraft focuses on paid entry and free to play daily fantasy in the U.S. via its SuperDraft DFS app available on iOS, Android, web and desktop. The company has developed several game modes and features that appeal to both casual and hardcore sports fans and fantasy players. With game modes like Multiplier Mode, SuperDraft levels the playing field and provides new ways to play and win with more possible lineup combinations than the competition.
The company will become a part of Caesars’ single wallet solution and will be linked to Caesars Rewards, the program that will permit players to credits redeemable for rewards and experiences online or at one of Caesars’ casino resorts nationwide.
SuperDraft, which operates across seven professional sports in over 35 states, will launch its first $1m tournament on February 7th – the SuperMillion Big Game contest.
Led by Tom Reeg, CEO, Caesars Entertainment is a leading casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, the company has grown through development of new resorts, expansions, and acquisitions. Its resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe® and Eldorado® brand names.