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DraftKings and Caesars Entertainment to collaborate

DraftKings and Caesars Entertainment have entered into an agreement to enhance their respective sports gaming operations.

DraftKings will get direct market access for online gaming products in states where Caesers is operating, while Caesars will take an equity stake in DraftKings. Additionally, DraftKings will promote Caesars Entertainment as its official casino resort partner in the states where the two entities collaborate.

Caesars has also recently entered gaming agreements with several sports franchises and leagues as well with media company Turner Sports.

“Partnering with such a world class gaming organization will expedite our national roll-out process and give us the opportunity to work alongside one the largest and most established industry leaders in the world,” Jason Robins, chief executive and co-founder of DraftKings, said in a statement.

“Caesars’ agreement with DraftKings, their first multi-state partnership, brings together the established leaders in gaming, daily fantasy sports and sports betting to provide customers more options,” said Mark Frissora, president and chief executive of Caesars Entertainment.

“This alliance is the latest initiative by Caesars to capitalize on our database, generate a new revenue stream in a growth market and raise our profile in sports, in part by creating new sports-themed guest experiences at our resorts across the country.”

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