Jan 30, 2021 - Sports

Casinos add fantasy sports in high-stakes partnerships

Axios

Betting lines at Race & Sports SuperBook at Westgate Las Vegas. Photo: Ethan Miller/Getty Images

Casinos, internet gambling, sports betting and fantasy sports are all colliding with new, high-stakes partnerships, AP reports.

Why it matters: This expansion is leading Wall Street analysts to predict fast-growing revenue in the U.S. over the next five to 10 years. Morgan Stanley sees a $15 billion sports betting and internet gambling market by 2025.

Driving the news: Two casino companies announced deals this week with fantasy sports providers, according to AP.

Bally's acquired the daily fantasy sports company Monkey Knife Fight, and Caesars Entertainment announced a strategic investment in SuperDraft, a daily fantasy sports company.

Go deeper: The emerging media landscape for sports bettors

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Casinos add fantasy sports in high-stakes partnerships

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