DraftKings has acquired sports betting broadcaster VSiN to help bolster its content capabilities. [Image: Shutterstock.com]
Wide-ranging betting content
DraftKings has announced its acquisition of Vegas Sports Information Network Inc. (VSiN), a multi-platform content and broadcasting company that focuses on providing sports betting analysis, data, and news to bettors across the United States. VSiN announced this deal on Tuesday via Twitter:
DraftKings is looking to further develop the capabilities of its content through this acquisition, aiming to attract a broader audience as sports betting continues to expand across the nation. The operator did not provide any details regarding the purchase price.
The Las Vegas-based VSiN creates, produces, and distributes over 18 hours of live sports betting content daily. In addition to its continuous streaming, VSiN also broadcasts shows through numerous audio and video providers such as Sling TV, Comcast Xfinity, and fuboTV.
For now, the existing leadership team at VSiN will continue managing the daily operations and have complete editorial independence. VSiN employees in Las Vegas will become a part of the DraftKings team. Over 2,600 people already work for DraftKings; the Boston-based operator set up its Las Vegas office in January 2020.
Plans to reach a broader audience
While DraftKings has retail and/or online sportsbooks up and running in 14 states, this marks its first significant acquisition of a company that is in the sports betting media space.
authentic and credible content that resonates with sports bettors at every level”
Speaking about this new deal, DraftKings board chairman and CEO Jason Robins said: “VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting.”
In addition to VSiN’s talent roster and brand equity with bettors, Robins noted that DraftKings will have the ability to immediately help expand VSiN’s infrastructure.
VSiN CEO Brian Musburger spoke about how the deal will allow VSiN to leverage the network and power of DraftKings to reach a wider audience. Speaking about VSiN’s approach, Musburger said: “We created VSiN as a destination for sports bettors to find the most credible content to help inform their wagering decisions.”
VSiN already has a relationship with other sports betting operators, such as BetMGM and BetRivers. The acquisition announcement did not outline what will happen with these existing relationships.
A common type of partnership
This acquisition is the latest coming together of a betting operator and a sports-related media company. Since sports betting became federally legal in the US in May 2018, many major sports-related media companies have become partners of sportsbook operators.
These relationships include Sinclair Broadcasting and Bally’s, FOX and Flutter Entertainment, CBS and William Hill, NBC and PointsBet, ESPN with both DraftKings and Caesars, Yahoo! Sports and BetMGM, Turner Sports with both DraftKings and FanDuel, and Barstool Sports with Penn National Gaming.
Some operators have invested in smaller sports media companies. For example, Wynn Resorts invested $3.5m last month into the sports podcasting network Blue Wire in an effort to help promote WynnBET.
Betting operators can leverage the audiences of these media companies to attract new customers. Odds will often integrate into the content on these media sites and during broadcasts, and operators will offer special promotions to their audiences. The media companies will often get a cut of the revenue resulting from the traffic that they send to the sportsbooks, while some take equity stakes in the betting operator as part of their agreements.