Tue, Mar 30, 2021
VSiN, a four-year-old sports betting broadcasting business based in Las Vegas and headlined by longtime broadcaster Brent Musburger, is being purchased by Boston-based DraftKings.
Terms of the deal were not announced, but some details were disclosed in a news release early Tuesday.
“VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” said Jason Robins, DraftKings’ co-founder, CEO and chairman stated in the release. “In addition to its brand equity among sports bettors and engaging talent roster, VSiN also has an established infrastructure that DraftKings can immediately help expand, in the hopes of adding value to consumers who are looking to become more knowledgeable about sports betting.”
VSiN develops, produces, and distributes up to 18 hours of live sports betting content each day. In addition to its 24/7 stream, VSiN’s content is accessible through multiple video and audio channels including Comcast Xfinity, Sling TV, fuboTV, Rogers’ Sportsnet, MSG Networks, NESN, AT&T Pittsburgh, Marquee Sports Network, a dedicated channel on iHeartRadio and TuneIn, as well as radio stations throughout the country, and its growing slate of podcasts and betcasts.
VSiN’s current talent roster includes sports broadcaster Musburger; Michael Lombardi, former NFL executive; Gill Alexander, host of the “Beating the Book” podcast; and Pauly Howard and Mitch Moss, co-hosts of VSiN’s popular morning show, “Follow The Money.”
VSiN’s production studio is housed at the Circa sportsbook in downtown Las Vegas. It also has had a studio at South Point since 2017.
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator.
According to the release, DraftKings’ vision is for VSiN CEO Brian Musburger and his leadership team to continue to manage day-to-day operations while maintaining editorial independence. DraftKings intends to integrate VSiN’s current employee base in Las Vegas, including its on-air talent, into its 2,600-person workforce.
Since opening a Las Vegas office in January 2020, DraftKings has grown its local employee base by 132 percent. When the company opened its doors in Las Vegas, it had 70 employees and Kalish indicated that the local work force eventually would expand to 300.
The Las Vegas operation is a back-of-the-house call center and longtime Las Vegas bookmaker Johnny Avello leads the local office.
DraftKings also recently announced a multi-year agreement to become a primary sponsor of the Center for Gaming Innovation, housed within the International Gaming Institute at the University of Nevada, Las Vegas.
The company hasn’t indicated whether it would become licensed to offer retail outlets in Nevada in what has become a crowded market led by William Hill US with strong competition from books operated by MGM Resorts International, Wynn Resorts Ltd., Boyd Gaming Corp., Station Casinos Inc. and Circa Sports.
DraftKings is publicly traded on the Nasdaq exchange. Shares were up in early trading Tuesday.
“The acquisition of VSiN should enhance DraftKings’ ability to produce content and grow its audience reach, presumably aiding in customer acquisition and further broadening brand awareness,” gaming analyst Carlo Santarelli of the New York office of Deutsche Bank said Tuesday in a note to investors.