ATLANTIC CITY, N.J. (AP) — Two major casino companies announced deals Monday with daily fantasy sports providers as they seek to expand their reach and integrate different forms of fan engagement with professional sports into their gambling operations. In the first deal, announced Monday morning, Bally's continued its acquisition juggernaut by acquiring the daily fantasy sports company Monkey Knife Fight in an all-stock transaction that further widens the fast-growing company's drive to add casino, online sports betting and media companies. Later in the day, Caesars Entertainment announced a strategic investment in SuperDraft, a daily fantasy sports company launched in September 2019, with the option to acquire the whole company over time. Daily fantasy sports involves players assembling virtual rosters of professional athletes, and then competing against others based on the performance of those athletes in real life. There has been growing synergy between daily fantasy sports and sports betting; two of the original dominant fantasy providers, DraftKings and FanDuel, have become leading sports betting bookmakers in the U.S.

Source: Daily Sun January 25, 2021 17:15 UTC