Caesars Announces Investment in DFS Platform SuperDraft
Daily fantasy sports players can now earn points in the world’s largest casino players club, Caesars Rewards. Casino giant Caesars Entertainment Inc. is getting into the DFS business through what it calls a “strategic investment” in daily fantasy platform, SuperDraft.
SuperDraft is based in New Hampshire and launched in spring 2019. It offers free and/or paid-entry DFS contests in 35 states, the District of Columbia and Canada.
Part of SuperDraft’s pitch to potential customers is that it offers a game mode that will appeal to both casual fans and experienced DFS players by replacing the traditional daily fantasy team salary cap with a “multiplier” applied to each player allowing maximum flexibility in building lineups. SuperDraft offers contests in seven sports.
The addition of a DFS platform rounds out Caesars’ suite of online gaming options that now includes the World Series of Poker, Caesars Online Casino, and, upon the acquisition's close, sports bookmaker William Hill, thereby giving the largest gambling company in the U.S. a full slate of mobile and online gaming channels.
"The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports," Tom Reeg, CEO of Caesars Entertainment, said in the news release Monday. "SuperDraft's innovative multiplier game mode is unique in the marketplace, and we believe it offers a tremendous opportunity to strengthen our position in the sports gaming landscape."
To create a splash, Caesars released a sizzle reel to promote its new DFS involvement using Caesars Rewards as the hook.
A point of interest for existing members of Caesars Rewards is that they can add to their Caesars Rewards accounts with DFS play.
That opportunity bridges the gaming experience from the virtual to the actual. Club members can use their Caesars Rewards credits earned while playing daily fantasy for actual in-casino perks, such a rooms, meals and shows — at least when the brick-and-mortar casino world rallies from the shutdowns of the COVID-19 pandemic. Online rewards will also be in the mix.
Customer Acquisition Key For Caesars
For Caesars, adding the relatively new DFS platform creates another pipeline to customer acquisition and presents an opportunity to integrate virtual and actual gaming experiences.
To get things started in the new Caesars-SuperDraft association, the DFS company is offering contests aimed at the Super Bowl (referred to in the gambling world as The Big Game). The contests were explained this way:
“SuperDraft will launch its first $1 million tournament on Feb. 7 — the SuperMillion Big Game contest. Starting (Jan. 25), opportunities will be offered daily across paid and free entry contests to give anyone the chance to win a ticket and compete for the $300,000 1st place prize. Additionally, two $100,000 contests with $20,000 first place prizes will occur on Big Game Day to offer something for daily fantasy players of all pocketbooks.”
Caesars will initially take a minority equity stake in SuperDraft with options to increase its stake incrementally up to 100%. For Super Draft, the association with Caesars gives it a huge boost in trying to compete with the long-standing DFS duopoly of DraftKings and FanDuel.
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