Caesars, DraftKings Ink Multi-state Online Betting Deal

LAS VEGAS (AP) — Caesars Entertainment and DraftKings have reached a deal to grant DraftKings access to Caesars' markets in several states.

The deal lets DraftKings offer its online gambling products in "certain states" in which Caesars operates, but the companies did not specify which ones.

DraftKings will promote Caesars Entertainment as its official casino-resort partner in the states where the companies collaborate, and Caesars Entertainment will receive equity in DraftKings.

Caesars can also continue to offer their own branded sports betting and online casino apps in each of these jurisdictions.

Mark Frissora, president and CEO of Caesars Entertainment, said in a statement that the deal should create new revenue with sports-themed guest experiences at the casino giant's resorts across the country.