DraftKings has sold VSiN back to its original owner, Musburger Media

In March 2021, DraftKings bought the Vegas Sports Information Network (VSiN) for $70 million. Brian Musburger founded this company and is the nephew of legendary sports broadcaster Brent Musburger. Fellow co-founders Bill Adee and Brian Musburger began VSiN in 2017. Roughly three years after selling their company to DraftKings, Musburger Media announced Monday that they are re-acquiring VSiN back from DraftKings. Co-founder Brian Musburger had this to say.

“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.”

DraftKings used the same model as Penn Entertainment

In the last 12 months, DraftKings selling VSiN back to Musburger Media is the second notable return sale for a gaming company selling the betting content back to the original owner. Last August, Penn Entertainment sold Barstool Sports back to its founder Dave Portnoy for $1. That was just over a year after it exercised a 100% option to buy Barstool Sports for $450 million. Selling Batstool back to Dave Portnoy was part of Penn’s attempt to pivot to their current sports betting platform, ESPN Bet.

When DraftKings purchased VSiN in 2021, their CEO Jason Robins felt it would add value to customers looking to become more knowledgeable on sports wagering. Three years later, VSiN, DraftKings, and Dave Portnoy have all come full circle. In the first six months after re-acquiring Barstool Sports, Portnoy had the company enter a content agreement with industry leader, DraftKings. VSiN and DraftKings will have a working relationship, but it will be on a smaller and more traditional scale. Chief marketing officer Stephanie Sherman had this to say.

“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 Sherman. “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.”