DraftKings has sold its VSiN sports betting broadcaster business back to its founders less than four years after acquiring the company.
VSiN has been acquired by Musburger Media, which comprises original founders Brian Musburger and Bill Adee, who were part of the team that launched and led the multi-platform broadcast and content company prior to its acquisition by DraftKings in March 2021.
“While a lot has changed in the sports betting industry over the past three-and-a-half years, our original vision for VSiN still holds and we are committed to delivering the most credible, independent information and analysis sports bettors can find anywhere,” said Musburger. “We truly appreciate the work we’ve done with DraftKings and look forward to continuing to collaborate on future projects.
“Bill and I couldn’t be more excited about leading VSiN into the future and cementing our position as a trusted authority in sports betting.”
From its Las Vegas newsroom studio at the Circa Resort and Casino, VSiN will continue to deliver news, analysis and insights for bettors, with more than 18 hours of unique sports betting content each day.
“DraftKings continues to optimize its investments in content and media to align with the most critical areas and needs of our business strategy, objectives, and goals,” said Stephanie Sherman, chief marketing officer for DraftKings. “We want to thank Brian, Bill, and the entire team at VSiN for a great relationship, and we look forward to continuing to advertise on the network.”
In related news, DraftKings has announced plans to enter Washington DC’s online sports betting market in partnership with DC United.
Shares in DraftKings Inc (NASDAQ:DKNG) gained 2.55 per cent to close at $37.78 per share in New York Tuesday.