Casinos add fantasy sports in high-stakes partnerships
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.