Caesars and DraftKings pen landmark online betting deal

Caesars Entertainment has announced a groundbreaking online gambling agreement with DraftKings.

It is the first multi-state arrangement Caesars has made as it looks to keep pace with its rivals in the ever-growing US sports betting industry.

The deal gives DraftKings access to online gaming and wagering markets in states where Caesars has casino properties.

That includes Mississippi, New Jersey and Pennsylvania, all of which have legalised gambling on sports.

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It could also give the fantasy sports giant a valuable head start in potential future markets such as Illinois and Indiana.

“Partnering with such a world class gaming organisation will expedite our national roll-out process and give us the opportunity to work alongside one the largest and most established industry leaders in the world,” said Jason Robins, DraftKings CEO.

“We look forward to collaborating with Caesars Entertainment on creating the most innovative and engaging sports and entertainment products and events for our customers.”

In return, DraftKings will push Caesars as its official casino resort partner in all markets where they collaborate.

The Nevada-based gaming corporation will also take an equity stake in DraftKings as part of the agreement.