DraftKings sells VSiN back to original founders

DraftKings has sold the Vegas Sports Information Network (VSiN) back to Musburger Media for an undisclosed amount, returning the sports betting-focused broadcasting network to its original founders. Boston-based DraftKings had acquired VSiN from Musburger Media in 2021 for a reported $70 million.

The deal reinstates Brian Musburger and Bill Adee as leaders of VSiN. The founders launched the network in 2017 and managed it through its initial sale to DraftKings. VSiN broadcasts 18 hours of original betting-focused content daily and operates a 24/7 streaming service.

Musburger emphasized that the “original vision for VSiN still holds” despite the quick turnover of ownership.

“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,” Musburger said in a statement.

After the sale, DraftKings' media portfolio still remains robust, including the DraftKings network, a partnership with Barstool Sports, and a distribution deal with Meadowlark Media.

VSiN’s newsroom studio is located inside the sportsbook at Circa casino-hotel in downtown Las Vegas, having previously operated from South Point Casino Hotel. Additionally, VSiN had a satellite studio on the East Coast at Atlantic City’s Ocean resort.

DraftKings expressed gratitude for the partnership and indicated it may continue advertising on the network.

“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,” Stephanie Sherman, DraftKings’s chief marketing officer, said in a statement.

DraftKings’ initial goal when first acquiring VSiN was to help grow its audience “alongside the expansion of legal sports betting in the US”. Jason Robins, DraftKings CEO, said at the time he hoped the partnership would add value “to consumers who are looking to become more knowledgeable about sports betting”.

DraftKings, along with its main competitor FanDuel, leads the U.S. sports betting market. According to Eilers & Krejcik Gaming, the two companies control about 67 percent of the domestic market share for online sports betting and internet casino among regulated operators.