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DraftKings Recent Acquisitions

Boston-based DraftKings recently announced in a press release that it will buy VSiN, a betting broadcasting business located in Las Vegas. VSiN is headed by Brent Musburger, a broadcaster that has been in business for some time now.

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Image: Baltimore Sun

Boston-based DraftKings recently announced in a press release that it will buy VSiN, a betting broadcasting business located in Las Vegas. VSiN is headed by Brent Musburger, a broadcaster that has been in business for some time now.

Only a few details were disclosed in a new press release announced on Tuesday. The purchase price remains a question that most are curious to find out. VSiN also went to Tweet “a milestone day” to mark the business’s transition.

According to DraftKings’ CEO and Chairman Jason Robins, one of the main things that make VSiN stand out is its credible and authentic content that appeals to bettors at all levels. Besides, VSiN has worked relentlessly to establish the best infrastructure that DraftKings can utilize to expand its operations in the world of sports betting.

Every day VSiN produces, develops, and distributes over 17 hours of live sports betting content. Since it streams all round the clock, VSiN content can be accessed through different video and audio channels such as Sling TV, Comcast Xfinity, MSG Networks, Rogers’ Sportsnet, fuboTV, AT&T Pittsburg, NESN, and Marquee Sports Network, among others.

VSiN’s talent pool includes former NFL executive and host of “Beating the Book,” Gill Alexander, sports broadcaster Michael Lombardi, and Brent Musburger, and Mitchy Moss and Pauly Howard, co-hosts of VSiN’s notable morning show, “Follow the Money.”

VSiN’s production studio is located at the Circa sportsbook in Las Vegas. There was also another studio at South Point since 2017.

DraftKings aims to see VSiN’s CEO and his team continue running day-to-day operations while ensuring that the editorial maintains its independence, according to the release. DraftKings also seeks to bring together VSiN’s current workforce in Las Vegas with its 2,600 diverse workforce.

Since launching an office in Las Vegas, Draftkings has increased its employee volume by 132%. At first, it had only 70 employees, and Matt Kalish, the co-founder, asserted that this would increase to 300.

Las Vegas Operations

Operation in Las Vegas runs through a back-of-the-house call center. Johnny Avello, a renowned Las Vegas bookmaker, is in charge of running operations at this call center.

DraftKings also recently made it public about a multi-year agreement that would make it an official sponsor of the Center for Gaming Innovation. The University of Nevada at the International Gaming Institute will house this center.

However, the company hasn’t mentioned whether it would also be licensed to offer additional retail outlets in Nevada. It is a well-known crowded sports betting marketplace with notable firms such as Willing Hill US. Other betting firms in this area include Wynn Resorts Ltd., Station Casinos Inc. MGM Resorts International, Boyd Gaming Corp., and Circa Sports.

Increased Sports Betting Content Delivery

Carlo Santarelli, a gaming analyst, pointed out to investors on Tuesday that VSiN’s acquisition will increase DraftKing’s ability to deliver sports betting content and expand its audience reach. Presumably, the move will help in customer acquisition and expanding brand awareness.

BlueRibbon Software Acquisition

DraftKings recently announced BlueRibbon Software’s acquisition, a global jackpot and gamification company located in Tel Aviv. Information about the cost of the acquisition was not made public.

The move to acquire BlueRibbon Software Ltd. is expected to improve DraftKings’ customer experience thanks to BlueRibbon’s jackpot functionality. It is a jackpot functionality designed to offer personalized promotions and rewards specific to individual consumers. These jackpots are expected to pay out across the different DraftKings’ product offerings.

Paul Liberman, DraftKing’s Global Technology and Product President, asserted that integrating BlueRibbon’s proven and tested technology will help DraftKings introduce diverse incentives to its users while interacting with their products.

Bringing DraftKings Gamification

Liberman continued to add that BlueRibbon talented team brings technical and gamification proficiency and industry experience to DraftKings. As such, DraftKings is happy to make good use of this technology to differentiate its product further and entice customers in new exciting ways.

Besides, DraftKings plans to join forces with BlueRibbon’s leadership and current staff members into its existing global workforce. The company also aims to bring more people into the new office to make things easier for the Tel Aviv office team.

Analysts Looking Positive

On March 30, Jed Kelly, an Oppenheimer analyst, kept a Buy rating of $80. This meant 27.7% upside potential. According to Kelly, DraftKings was working to strengthen its media strategy, and the VSiN and BlueRibbon acquisitions would be an ideal way of doing it. Kelly continued to argue that moves such as these will bring DraftKings to the number 1 position in the market.

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