Carousel Group and Caesars Entertainment Sign Multi-State Market Access Agreement
Carousel Group, the owner and operator of SportsBetting.com, has entered a multi-state, 10-year partnership with Caesars Entertainment, Inc. that will see its online sportsbook made available to customers in New Jersey, Indiana and Iowa as well as its online casino in New Jersey, pending obtaining all necessary gaming licenses.
This is the second partnership that Carousel Group has entered following last year’s landmark deal for market access in Colorado.
The agreement with Caesars will increase Carousel Group’s addressable market in the US from $109 million to an estimated $1.8 billion, with 24.5 million people residing in the target states. The agreement also provides Carousel Group with the opportunity to enter an extremely attractive US online casino market. The market has grown rapidly with New Jersey’s iGaming GGR increasing from $483 million in 2019 to $961 million in 2020.
SportsBetting.com is powered by Carousel Group’s proprietary platform and in-house trading and risk teams, which provide US sports bettors and casino players with tailored, online gaming experiences in each state.
“We closed out 2020 with the launch of SportsBetting.com in Colorado and we are thrilled to start 2021 with the announcement of our multi-state agreement with Caesars, a giant in the casino industry and the perfect strategic partner to help us aggressively expand our market access in the US,” Daniel Graetzer, President and CEO of Carousel Group, said.
“We look forward to working with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana and Iowa. We are also finalizing major updates to our products, including new mobile apps and a cutting-edge casino platform,” Graetzer added. “Bettors continue to be more product savvy, which is why we built a user-centric tech company with full control over the user experience. Our design principles along with our in-house tech and operations will be the key to our long-term success in the US.”