DraftKings Contemplates Selling VSiN Back to Brent Musburger
DraftKings is reportedly contemplating the sale of the Vegas Sports Information Network (VSiN).
DraftKings mulling sale of VSiN to Brent Musburger.
LISTEN TO THIS ARTICLE:The potential sale of the Las Vegas-based sports betting radio network, acquired by DraftKings for $70 million in March 2021, is drawing parallels to Penn Entertainment’s sale of Barstool Sports last year. In that deal, Barstool returned to its founder, Dave Portnoy, for just $1.
Brent Musburger Predicted to Reacquire VSiN
According to Eilers & Krejcik Gaming (EKG), VSiN’s founder and veteran broadcaster Brent Musburger is expected to buy back the network. VSiN, established in 2017, operates from locations such as Circa Sportsbook and The D Hotel in downtown Las Vegas. The network provides extensive sports betting coverage, streaming 18 hours of daily content and running a 24/7 channel.
Listeners can access VSiN’s programming via iHeartRadio, TuneIn, and numerous smaller radio stations across the US. Additionally, VSiN’s content is available on various linear television platforms and streaming services such as FuboTV and Sling TV.
Neither DraftKings nor VSiN has publicly commented on the potential sale. If the sale proceeds, it would underscore the challenges gaming companies face in generating substantial profits from media ventures. DraftKings’ $70 million investment was initially seen as a strategic move, aligning with predictions that media and sports betting could drive significant revenues, possibly reaching $30 billion by 2030, including from iGaming.
However, the current media landscape suggests otherwise. The anticipated synergies between media and sports betting have not materialized, as evidenced by Penn’s low-value sale of Barstool and other unsuccessful collaborations between media and betting companies. EKG’s analysis indicates that media firms find it difficult to become successful betting operators.
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Barstool’s Agreement with DraftKings Casts Doubt on VSiN’s Future Marketing
Earlier this year, Barstool entered a marketing agreement with DraftKings, intertwining the narratives of these media and betting giants. Should DraftKings move forward with selling VSiN, the network’s marketing affiliations are likely to undergo significant changes.
Despite most of VSiN’s programming originating from Las Vegas, on-air talent frequently references DraftKings odds, even though DraftKings does not operate in Nevada’s betting market. Following a sale, VSiN might switch odds provider and one possible partner is said to be Circa Sportsbook.
VSiN has a strong brand presence within the betting community, and Musburger’s name continues to draw bettors and fans. As an independent entity, VSiN would remain committed to delivering news, analysis, and proprietary data to millions of Americans engaged in sports betting, reinforcing its role as a significant presence in the gambling industry.
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