Carousel Group and Caesars Entertainment sign multi-state market access agreement

Carousel Group and Caesars Entertainment sign multi-state market access agreement

  • CDC Gaming Reports
February 26, 2021 7:51 PM
  • CDC Gaming Reports
  • Other

Carousel Group, owner and operator of SportsBetting.com, has entered a multi-state 10-year partnership with Caesars Entertainment that will make its online sportsbook 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 U.S. 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 the U.S. 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 platform and in-house trading and risk teams, which provide U.S. 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. Caesars is the perfect strategic partner to help us aggressively expand our market access in the U.S.,” Daniel Graetzer, President and CEO of Carousel Group, said.

“We are also finalizing major updates to our products, including new mobile apps and a cutting-edge casino platform,” Graetzer added. “Our design principles along with our in-house tech and operations will be the key to our long-term success in the US.”