Caesars Entertainment, Inc. Announces Strategic Investment in SuperDraft Daily Fantasy
On January 25, 2021, Caesars Entertainment (NASDAQ: CZR) announced a strategic investment in SuperDraft, Inc., a daily fantasy sports platform. This investment enhances Caesars' mobile sports offerings and aims to attract and retain customers. Caesars will acquire an initial minority equity position with options to increase this stake. SuperDraft's unique Multiplier Mode game appeals to a broader audience and will join Caesars' suite of online brands. The partnership will kick off with a $1 million tournament on February 7, 2021, showcasing SuperDraft's potential in the competitive daily fantasy sports market.
- Strategic investment in SuperDraft enhances Caesars' mobile sports and gaming network.
- Initial minority stake with potential to increase to 100%, indicating long-term growth strategy.
- SuperDraft's Multiplier Mode enhances customer engagement with flexible team-building options.
- Launch of a $1 million tournament on February 7, 2021, expected to attract players and generate interest.
- None.
RENO, Nev. and LAS VEGAS, Jan. 25, 2021 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars" or "CZR") today announced a strategic investment in the daily fantasy sports platform SuperDraft, Inc. (www.superdraft.io). The investment complements Caesars' strong mobile sports and gaming network by adding an innovative Fantasy Sports platform, further strengthening its pipeline to customer acquisition and retention for both online and brick-and-mortar.
**View the sizzle video HERE**
With the investment, Caesars takes an initial minority equity position with an option to increase its stake over time up to
"The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports," said Tom Reeg, CEO of Caesars Entertainment, Inc. "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 across seven professional sports in more than 35 states, SuperDraft features a unique game mode that attracts casual fans and experienced players alike. Multiplier Mode replaces the traditional fantasy team salary cap with a multiplier applied to each player allowing maximum flexibility in team building while creating more opportunities for everyone to win.
As part of the investment, SuperDraft will join Caesars' online brands, World Series of Poker, Caesars Online Casino, and, upon the acquisition's close, William Hill, as part of a full slate of mobile and online gaming channels.
"We're super excited to be part of Caesars' powerful gaming ecosystem," said Steve Wang, CEO & Founder of SuperDraft Inc. "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."
To kick-off the partnership, SuperDraft will launch its first
SuperDraft will become a piece of Caesars' single wallet solution, allowing members more options to play both online and in-person, and is expected to be tied to the industry-leading Caesars Rewards program that will permit players to credits redeemable for rewards and experiences online or at one of Caesars casino resorts nationwide.
"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," said Nate Hunter, SuperDraft CTO and Co-Founder. "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."
For more information, visit: www.caesars.com/superdraft
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions, and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate.
About SuperDraft, Inc.
SuperDraft, Inc. is based in New Hampshire and is focused on paid entry and free to play daily fantasy in the U.S. via its SuperDraft DFS app available on iOS, Android, web and desktop. The Company has developed several unique game modes and features that appeal to both casual and hardcore sports fans and fantasy players. With unique game modes like Multiplier Mode, SuperDraft levels the playing field and provides new ways to play and win with more possible lineup combinations than the competition. The result is a game that is easier to play and quicker to understand. These daily fantasy sports contests are legal in more than 35 states with its free contests available in all 50 states. For more information, please visit www.superdraft.io.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "anticipates," "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond Caesars' control and could materially affect actual results, performance, or achievements.
Although Caesars believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. There are a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements which are included elsewhere in this press release.
In light of these and other risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur. These forward-looking statements speak only as of the date of this press release, even if subsequently made available on the websites of Caesars or otherwise, and Caesars does not intend to update publicly any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made, except as may be required by law.
View original content to download multimedia:http://www.prnewswire.com/news-releases/caesars-entertainment-inc-announces-strategic-investment-in-superdraft-daily-fantasy-301214422.html
SOURCE Caesars Entertainment, Inc.
FAQ
What recent investment did Caesars Entertainment make?
What is the significance of Caesars' investment in SuperDraft?
When is SuperDraft launching its first tournament?
How does SuperDraft's Multiplier Mode work?
