SuperDraft Receives Strategic Investment from Caesars Entertainment
Summary
With the investment, Caesars takes an initial minority equity position with an option to increase its stake over time up to 100% at pre-determined levels. Online casinos are taking an always bigger market share out of the total global industry and people are shifting more towards it because of its ease of use and availability over smartphones. The company has developed several game modes and features that appeal to both casual and hardcore sports fans and fantasy players. SuperDraft, which operates across seven professional sports in over 35 states, will launch its first $1m tournament on February 7th – the SuperMillion Big Game contest. Led by Tom Reeg, CEO, Caesars Entertainment is a leading casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers.
Funding
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