Caesars Entertainment has acquired sports betting technology company ZeroFlucs in a move to bolster offerings on its Sportsbook.
The acquisition, announced Friday, follows what Caesars describes as a successful integration of ZeroFlucs technology into its platform. That enabled the launch of products like same-game parlays and expanded SGP markets for Major League Baseball.
“We are excited to welcome the talented ZeroFlucs team into the Caesars family,” Eric Hession, president of Caesars Digital, said in the release. “Their expertise in data science and trading technology coupled with their passion for sports makes them a perfect fit with our team as we drive to offer our customers the best sports betting product that complements our award-winning Caesars Rewards program.”
B2B software firms an attractive buy
The company now has full access to the Australia-based startup’s “cutting-edge” software, which sportsbooks have used to augment their pricing capabilities with their own data. The company also hopes the new addition will “unlock exciting new product features and benefits for Caesars Sportsbook bettors.”
Financial terms of the deal were not disclosed.
The purchase continues a wave of US sportsbooks buying the companies that contract out their trading and pricing software. That includes DraftKings‘ purchase of Sports IQ Analytics and Entain’s purchase of Angstrom for $265 million.
ZeroFlucs team joins on
ZeroFlucs will remain under the leadership of its Founder, Steve Gray, and its former chief technology officer, Carly Christensen.
Both join Caesars as senior vice presidents specializing in pricing.
Caesars continues to invest in product
Some Wall Street analysts recently named Caesars among companies that stand to gain meaningful market share as their product investments pay off.
The company recently revamped its entire online casino, providing users with an augmented digital experience mimicking the company’s physical casinos. A subsequent deal with Evolution has both companies working on live studios to be broadcast on the digital platform.
It also recently launched its live betting hub, Fire Bets, after years of investment made to improve in-play wagering.
