DraftKings Eyes Potential Sale of Vegas Sports Network

DraftKings is said to be thinking about selling the Vegas Sports Information Network (VSiN). VSiN is a Las Vegas-based sports betting radio network that the company bought for $70 million back in March 2021. Analysts are drawing parallels between this possible transaction and Penn Entertainment’s offloading of Barstool Sports last year, when Barstool went back to founder Dave Portnoy for just $1.

Brent Musburger Expected to Buy Back VSiN from DraftKings, Says EKG

The expected buyer of VSiN, according to Eilers & Krejcik Gaming (EKG), is its founder Brent Musburger, a veteran broadcaster, as reported by Casino.org. Established in 2017, VSiN broadcasts from locations such as Circa Sportsbook and The D Hotel in downtown Las Vegas. The network offers extensive sports betting coverage by streaming 18 hours of content daily and maintaining a 24/7 channel. 

Programming can be heard on iHeartRadio, TuneIn and various smaller radio stations across the US. Moreover, VSiN’s offerings are available on multiple linear television platforms and streaming services including FuboTV and Sling TV.

Neither DraftKings nor VSiN has made any public statements about the potential sale but if it goes through it will highlight gaming companies’ difficulty making big money out of media ventures. The $70 million laid out by DraftKings was seen as a strategic investment that married with forecasts around media and sports betting combining to drive significant revenues of up to $30 billion by 2030 including from iGaming.

However, the current media environment tells another story. The expected synergies between media and sports betting have not worked out so far as demonstrated by Penn’s low-value sale of Barstool among other unsuccessful collaborations between sports betting and media companies. EKG says these cases indicate that media firms often struggle to become effective betting operators.

Barstool Agreement with DraftKings Raises Questions About VSiN’s Marketing Future

Barstool struck a marketing agreement with DraftKings earlier this year, which further tied together the narratives of these media and betting giants. Should DraftKings proceed with selling VSiN, it is likely that there will be significant changes to the network’s marketing affiliations.

Although most of VSiN’s programming originates from Las Vegas, on-air talent frequently references DraftKings odds even though the operator does not have a presence in Nevada’s betting market. Post-sale, VSiN may look for a new odds provider and could potentially partner with Circa Sportsbook.

The network has strong brand recognition within the betting community and Musburger’s name still attracts bettors and fans. As a standalone company VSiN would remain dedicated to serving news, analysis and proprietary data to millions of Americans engaged in sports betting hence cementing its status as a major player in the multibillion-dollar industry.