FanDuel and CAGE Sports agree exclusive betting deal

Business News

CAGE Sports have announced a strategic business agreement with FanDuel to certain jurisdictions where CAGE is licensed or is seeking sports betting licenses in the Caribbean and South America.

The new relationship brings together CAGE’s experience in the region with FanDuel’s premier brand and industry-leading sports betting platform.

“We are excited about implementing a sports betting business with FanDuel and believe that it will provide our customers with an engaging betting experience only our two companies can deliver.” said Robert L. Johnson, Founder of The RLJ Companies and Majority Owner of the CAGE Companies. “This agreement will also provide new jobs and significant recurring revenue for the governments we serve.”Robert L. Johnson, founder of BET, enters the Sports Betting business in an agreement with FanDuel Group.

As part of the agreement, FanDuel Group and CAGE will operate over the counter sportsbooks at retail locations and online in markets throughout the Caribbean and South America. Both companies expect the network to be activated in the first half of 2021 initially in Bermuda and Barbados with the long-term goal of growing to several dozen additional locations across the region.

“We are proud to partner with a visionary business leader and entrepreneur in Bob Johnson and look forward to building a long-term collaboration together,” said FanDuel Group CEO Matt King. “Bob and the team at CAGE were the perfect partner to expand our industry leading footprint internationally.”

“We see sports betting and mobile gaming as a key driver of growth for the CAGE Companies,” said Robert B. Washington, Co-Founder, Chairman & CEO of the CAGE Companies. “This dynamic agreement creates tremendous value, brand recognition and delivers world class products for the enjoyment of our customers and the financial benefit of the many small businesses that serve as our commission retailers.”