Casino operator Caesars Entertainment has agreed to a multi-year, multi-state partnership with DraftKings. The agreement allows DraftKings to offer its online and mobile betting products in certain states where Caesars owns a casino and sports betting is legalized.
Caesars will receive equity in DraftKings as part of the deal while DraftKings will advertise Caesars as its official casino resort partner in states where the companies collaborate. Caesars currently operates 42 casinos across 13 U.S. states. DraftKings and Caesars released a joint press release on Monday announcing the partnership, but the release did not detail which specific states DraftKings will be expanding into.