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,
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. It is played just for fun, as well as for cash.
There has been growing synergy between daily fantasy sports and sports betting; two of the original dominant fantasy providers,
Bally's has been on a tear in recent months, adding gambling and media properties as it aims to become a major national player.
“With this acquisition, we are pleased to enter into the high-growth (daily fantasy sports) market," said
Bally's recent moves include the purchase of Bally's casino in
The company plans to integrate Monkey Knife Fight's geographic presence in 37 states,
Monkey Knife fight has about 180,000 registered users, 80,000 of whom have made monetary deposits in order to play.
Papanier said Monkey Knife Fight will support Bally’s plans to develop a potential customer database in states that have not yet adopted sports betting but which are considered lucrative potential markets, including
The deal is expected to close in the first quarter of 2021.
Caesars did not divulge the amount of its investment in SuperDraft, which operates in more than 35 states.
"We’re super excited to be part of Caesars’ powerful gaming ecosystem,” said
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