Here’s What We Know About DraftKings’ New Acquisition

DraftKings has been busy expanding over the past few years. The DFS and sports betting operator is now one of the biggest players in the industry. Today, we’ll discuss some of the details surrounding DraftKings’ new acquisition.

This is big news for the company. It is expected to significantly expand the amount of content DraftKings can provide to its members.

Here’s what we know about this situation!

The US Sports Betting Industry is Growing Quickly in 2021

It’s been just under three years since the US Supreme Court agreed to remove PASPA. This proved to be a monumental decision for the country’s gambling industry. Today, more than half the states in the US have approved laws to allow sports gambling.

This industry seems to be expanding every single day. The states with sports betting industries up and running are seeing massive revenue figures coming in. As a result, even the parts of the country known for having anti-gambling laws are beginning to look more into the legalization of sports gambling.

2021 is shaping up to be a massive year for this industry. Several new states already seem on the brink of legalizing this industry. That includes Wyoming, Arizona, and West Virginia. It’s an exciting time for the companies involved in this industry.

The states that already have sports betting industries are succeeding. The ones with regulated online sports betting industries, in particular, are seeing major revenue increases almost every month. Places like New Jersey continue to set new handle records on a consistent basis.

Most agree that the US now has the biggest sports betting industry in the world. A huge number of major European-based sports betting companies are attempting to break into the market. DraftKings was one of the first major US companies to launch online sports betting operations here.

Over the years, DraftKings has continued to expand its operations. We’re now beginning to hear more about the company’s major new acquisition.

Taking a Close Look at DraftKings’ New Acquisition of Vegas Sports Information Network

Just about everyone familiar with sports betting has heard of DraftKings before. The company has become synonymous with the sports gambling industry and now operates internet sportsbooks across much of the country. As we’ve already mentioned, DraftKings has been expanding in a big way over the past few years.

This week, news broke that the company had officially agreed to purchase Vegas Sports Information Network. This multiplatform broadcast content company delivers sports news, analysis, and data to its US customers. DraftKings’ new acquisition gives the company significantly more content for its players.

Jason Robins, co-founder, CEO, and board chairman of DraftKings, spoke to the media about the news this week.

“VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” he said. “In addition to its brand equity among sports bettors and engaging talent roster, VSiN also has an established infrastructure that DraftKings can immediately help expand, in the hopes of adding value to consumers who are looking to become more knowledgeable about sports betting.”

This is a major deal for DraftKings moving forward. The company will now have access to VSiN’s 18 hours of daily sports content. It’s also exciting news for DraftKings players, who will soon have immediate access to this content.

The specific terms of this deal have not yet come out. More information is likely to come out over the next few weeks. Stay tuned for updates!

Many States Report Sports Betting Revenue Declines in February

The US sports betting industry continues to expand all around the United States. More states are choosing to embrace the industry. Some are even allowing new forms of sports betting such as online and mobile sports gambling.

Interestingly, a huge number of states are reporting revenue declines for the month of February. Some are surprised at this fact. Many believed that Super Bowl LV would end up bringing a massive surge of revenue for states across the country.

Tennessee reported its first sports betting revenue decline ever in February. Revenue from this industry fell by 40.4% when compared to January. Overall, $176.3 million in sports wagers were placed in this state last month.

Colorado also saw a decline. For the first time ever, Colorado’s sports betting industry saw a revenue decline of 18.5%. That is not as significant as others, yet it shows that the industry took a hit in February.

Even New Jersey’s sports betting operators reported revenue declines! New Jersey is now home to the biggest sports gambling industry in the country. In February, sportsbooks here reported a 22% drop when compared to January.

What do you think about DraftKings’ new acquisition? Let us know in the comments section below.