Caesars Entertainment has made a strategic investment in SuperDraft, a daily fantasy sports website, in a move intended to complement the gaming and mobile sports network of the company.
Caesars says it will bring more power to its customer growth pipeline and retention for both online and brick-and-mortar through the investment. The business has an initial minority ownership holding, with the option of growing its interest by up to 100 percent at pre-determined amounts over time.
As part of the investment, New Hampshire-based SuperDraft will join Caesars’ online brands, World Series of Poker and Caesars Online Casino, and William Hill, as part of a full slate of mobile and online gaming platforms, upon the completion of the purchase.
Caesars single wallet solution
The business will now become a part of the single wallet solution of Caesars, offering members more online and in-person play opportunities, and is expected to be connected to the Caesars Rewards program.
Tom Reeg, CEO of Caesars Entertainment said: “The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports.
“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.”
Operating in more than 35 states spanning seven professional sports, SuperDraft features a game mode designed to draw new fans and seasoned players alike.
Powerful gaming ecosystem
Steve Wang, CEO & founder of SuperDraft said: “We’re super excited to be part of Caesars’ powerful gaming ecosystem. 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.”
Strong strategic partner
Nate Hunter, co-founder and SuperDraft CTO, added: “Caesars is a strong strategic partner that will allow us to further enhance our industry-leading tech stack and provide an enhanced player-first experience.
“Now SuperDraft can adapt to the market faster than the institutional daily fantasy providers, while providing our players with unmatched prizes, loyalty rewards, and exclusive VIP opportunities.”