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The Carousel Group has entered into a ten-year multi-state alliance with Caesars Entertainment that will see the organisation strive across the United States to expand its digital presence.
The online sportsbook operator, which boasts SportsBetting.com as part of its portfolio, makes its sports wagering offering open to customers in New Jersey, Indiana and Iowa, as well as its online casino in New Jersey, before all requisite gaming licences are obtained as a result of the link-up.
Expanding market access
Daniel Graetzer, president and CEO of Carousel Group explained: “We closed out 2020 with the launch of SportsBetting.com in Colorado and we are thrilled to start 2021 with the announcement of our multi-state agreement with Caesars, a giant in the casino industry and the perfect strategic partner to help us aggressively expand our market access in the US.”
The deal with Caesars would expand the addressable market of the Carousel Group in the US from $ 109 million to an estimated $ 1.8 billion, with 24.5 million people living in the target states.
The deal also gives the organisation the ability to enter the ever-expanding online casino industry in the US, which has seen the igaming GGR in New Jersey rise from $483 million in 2019 to $961 million in 2020.
Major product updates
Graetzer added: “We look forward to working with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana and Iowa. We are also finalising major updates to our products, including new mobile apps and a cutting-edge casino platform.
“Bettors continue to be more product savvy, which is why we built a user-centric tech company with full control over the user experience. Our design principles along with our in-house tech and operations will be the key to our long-term success in the US.”
SportsBetting.com is operated by the proprietary network of Carousel Group and in-house trading and risk teams to offer personalised, online gaming opportunities in each state to US sports bettors and casino players.