Rumors of DraftKings acquiring BetRivers

Been seeing reports of DraftKings possibly having interest in acquiring BetRivers. Wondered what others thought about this.

BetRivers seemed to finally just have a positive quarter and turned some heads with that performance. Not sure how it really helps DraftKings to acquire BetRivers as I’m sure it’s mostly the same customers they already have.

Also, DraftKings would be paying a higher premium at this point for BetRivers than they could have a while ago. Wonder if this is a move to just prevent another company (Fanatics, for example) from expanding more.

I would guess your last suggestion is the answer.

Hopefully the states wont allow consolidation of licenses in that way.

As an industry approaches saturation we tend to see more mergers and acquisitions. So this is no surprise, I just wonder what happens to the brick and mortar Rivers casinos.

Originally Posted by Optional

I would guess your last suggestion is the answer.
Hopefully the states wont allow consolidation of licenses in that way.

Yes I am sure each state would handle it differently. It seemed when WynnBet left New York, their license was purchased by ESPNBet. But I think DraftKings is already in most states that BetRivers operates in. I guess if they merge, then the BetRivers license could be sold to another player in some states.

Originally Posted by Enkhbat

As an industry approaches saturation we tend to see more mergers and acquisitions. So this is no surprise, I just wonder what happens to the brick and mortar Rivers casinos.

Yes, I would wonder about that also. I’ve been to Rivers Schenectady and the others they have are run pretty similar to that one. Would at least open chances of more retail spots for DraftKings sports books.