Leading betting and gaming firm Caesars has struck a strategic partnership with daily fantasy sports platform SuperDraft. As part of the partnership, Caesars has obtained an initial minority equity position.
SuperDraft Teams up with Caesars Entertainment
Caesars Entertainment has revealed a strategic partnership with SuperDraft, Inc., a daily fantasy sports platform. Announced on Monday, the partnership is a first step by Caesars in fantasy contests and an opportunity to grow the company’s expertise in a new and promising vertical.
The company is starting by acquiring an initial minority equity position and has the option to increase its involvement up to 100% following the terms of the agreement. SuperDraft stands to benefit from Caesars’ presence in the United States and its growing footprint in traditional sports.
Commenting on this partnership, Caesars Entertainment CEO Tom Reeg said that the partnership with SuperDraft would allow Caesars to expand into a new unique marketplace.
“It offers a tremendous opportunity to strengthen our position in the sports gaming landscape,” Reeg added. Because of its status of a daily fantasy sportsbook, SuperDraft has had a bit more in the way of leeway when it comes to launching its products across the United States.
SuperDraft has presence in 35 states and it uses a specific game mode that allows it to appeal to both well-seasoned sports veterans as well as casual fans. The Multiplier Mode that SuperDraft has come up with is a way to replace the fantasy team salary cap.
Instead, each player gets a multiplier that gives the fans maximum flexibility. SuperDraft will also seek closer integration with Caesars’ other brands, including Caesars Online Casino, the World Series of Poker and William Hill, as soon as the acquisition is complete.
SuperDraft Readies New Offers
SuperDraft executives were equally excited about the partnership. Founder and CEO Steve Wang had this to add:
“Daily fantasy players deserve a breath of fresh air, and we’re here to transform the industry. 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.”-SuperDraft founder and CEO Steve Wang
SuperDraft is coming prepared in the partnership and the company will kick off the SuperMillion Big Game Contest on February 7, offering $1 million in prize money.
Sports fans can already participate in various contests that allow them free and paid entries into the SuperMillion Big, with the first prize standing at $300,000. Serious about integration, Caesars is bringing SuperDraft as part of its single wallet solution, which extends to both online and in-person payments.
SuperDraft will likely be added to the Caesars Rewards program for exciting new opportunities and allow players to earn loyalty points playing daily sports and redeem them for various rewards at in-person venues.
SuperDraft CTO and co-founder Nate Hunter said that Caesars is the right partner for the company as it would allow it to improve its own industry-leading tech stack and lead to better consumer experience across the board.