DraftKings said Tuesday it acquired Vegas Sports Information Network (VSiN) for an undisclosed price that gives the sports betting operator a national broadcast presence beyond its growing sports wagering business.
Las Vegas-based VSiN produces more than 18 hours of daily sports wagering news, analysis, and data across multiple video, audio, and internet channels. The network launched in 2017, ahead of the nationwide legalization of sports betting, and has permanent broadcast studios inside the sportsbooks at the South Point Casino and Circa Casino Resort in Las Vegas.
In a statement, Boston-based DraftKings said the intention is for VSiN CEO and founder Brian Musburger and his leadership team to continue to manage day-to-day operations while maintaining editorial independence.
“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,” DraftKings CEO Jason Robins said in a statement.
“VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they’re experienced or new to sports betting,” Robins said.
Musburger, the nephew of legendary sportscaster Brent Musburger, created VSiN with the idea of becoming “the CNBC of sports betting,” serving as a resource for the sports betting community and sports fans interested in the activity.
VSiN’s current talent roster includes Brent Musburger, former NFL executive Michael Lombardi; Gill Alexander, host of the Beating the Book podcast; and Pauly Howard and Mitch Moss, co-hosts of VSiN’s morning show, Follow The Money.
VSiN’s content is accessible through Comcast Xfinity, Sling TV, fuboTV, Rogers’ Sportsnet, MSG Networks, NESN, AT&T Pittsburgh, Marquee Sports Network, a dedicated channel on iHeartRadio and TuneIn. VSiN also produces podcasts and betcasts.
“We created VSiN as a destination for sports bettors to find the most credible content to help inform their wagering decisions,” Brian Musburger said. “Harnessing the power and network of the DraftKings brand will allow us to reach an even wider audience with our unique content.”
VSiN was privately held but amongst its ownership was Circa owner Derek Stevens and SouthPoint owner Michael Gaughan. DraftKings is publicly traded on the Nasdaq, could reveal a purchase price through a future securities filing. Shares of DraftKings closed at $61 Tuesday, up $2.80 or 4.81%.
In a note to investors, Deutsche Bank gaming analyst Carlo Santarelli said, “Strategically, 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.”
DraftKings operates mobile and/or retail sports betting in 14 of the current 22 states with legal sports wagering. Last year, DraftKings opened offices in Las Vegas to support the company’s retail and online sports betting operations. The company said it has grown that employee base by 132%. However, DraftKings is not licensed to operate sports betting in Nevada.
DraftKings said it intends to fully integrate VSiN’s current employee base located in Las Vegas, including its on-air talent, into its 2,600-person global workforce.
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.
VSiN has been launching satellite studios at gaming properties across the U.S. In September, VSiN and BetRivers, the interactive gaming site associated with Rush Street Gaming, announced plans for daily sports wagering telecasts from the sportsbook from the Rivers Casino Des Plaines near Chicago.
VSiN also has a studio at the Mandalay Bay sportsbook in Las Vegas.
Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
