Stockholm-listed fantasy sports provider Scout Gaming has partnered Los Angeles-based Milestone Entertainment to develop a pooled liquidity network across the US for daily fantasy sports and pooled betting products.
The agreement will see Milestone include localized versions of Scout Gaming’s products in its offering, primarily targeting the US and Canadian markets.
Milestone has been providing interactive games and entertainment services to lotteries worldwide since 2000, with US customers including the state lotteries of California, Kansas, Idaho, New Hampshire, South Carolina, and Vermont.
"Fantasy sports has a long history in the American market with approximately 60 million players enjoying at least one type of game and daily fantasy sports (or DFS) is now legal in an increasing number and majority of states,” explained Scout Gaming CEO Andreas Ternström. “When state operators, having a legacy of offering lottery and pool games, oversee the regulations, it becomes a natural step to expand their product portfolios into fantasy sports to create new revenue streams.
“Milestone Entertainment truly understands how to create compelling sports and entertainment products in the North American market and we expect this partnership to be very successful.”
Milestone Entertainment CEO Randall Katz added: "We are very excited to collaborate with Scout Gaming and bring their successful games to North America. Our team at Milestone Entertainment has years of experience with fantasy sports and sports-related products and the timing is right for our customers to expand beyond the existing lottery games, making Scout Gaming's products especially attractive.
“We have carefully evaluated suppliers to ensure that we provide our customers with the best products and I am convinced that we have made the right choice.”
Shares in Scout Gaming Group AB (STO:SCOUT) closed in Stockholm Monday up 4.45 per cent at SEK49.30 per share.