Caesars Entertainment (NASDAQ: CZR) announced today that it is acquiring ZeroFlucs Group Pty Ltd, an Australian software provider specializing in sportsbook technology. The financial terms of the deal were not disclosed, but this move is seen as a strategic step to enhance Caesars’ sports betting offerings.
ZeroFlucs’ products allow sportsbook operators to efficiently update odds and pricing while maintaining existing data relationships. By integrating ZeroFlucs’ technology into the Caesars Sportsbook platform, new products such as in-play same-game parlays (SGPs) and an improved menu of ‘SGP-eligible’ markets for Major League Baseball have been launched.
Steve Gray and Carly Christensen, the leaders of ZeroFlucs, will continue to oversee the company, with Christensen joining Caesars Digital as senior vice president of price technology. This acquisition comes at a time when the sports betting technology race is heating up, with operators looking to enhance their offerings to attract more bettors.
The acquisition of ZeroFlucs by Caesars follows a recent trend in the industry, as MGM Resorts International (NYSE: MGM) also made a move to bolster its sports wagering technology by acquiring the US iGaming and sportsbook operations of Tipico Group. Live betting and SGPs have become popular among bettors, making it crucial for operators to have efficient technology to update odds in real-time.
ZeroFlucs’ expertise in baseball SGPs is particularly valuable, as the slow-paced nature of the sport lends itself well to live wagering. With improved technology, operators like Caesars could attract more bets on baseball, a sport that has historically lagged behind football and basketball in terms of handle.
Overall, the acquisition of ZeroFlucs by Caesars is expected to enhance the customer experience and unlock new product features for Caesars Sportsbook users. As the competition in the sports betting industry continues to intensify, having cutting-edge technology like ZeroFlucs’ will be crucial for operators to stay ahead in the race.
