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Caesars Entertainment (NASDAQ:CZR) announced on Friday that it snapped up ZeroFlucs Group for an undisclosed amount.
The acquisition of the Australian trading technology company is anticipated to bolster Caesars Digital’s trading capabilities, including providing customers with a fully in-sourced solution for same-game parlay.
The ZeroFlucs acquisition follows a successful integration of ZeroFlucs’ technology into the Caesars Sportsbook platform through a commercial arrangement that enabled the recent launch of new products, such as in-play same-game parlays and a vastly improved menu of SGP-eligible markets for Major League Baseball. The acquisition was said to cement a relationship between the companies that is now expected to continue to unlock exciting new product features and benefits for Caesars Sportsbook bettors.
ZeroFlucs expertise in data science and trading technology coupled with the company’s passion for sports is seen making them a perfect fit to combine with the Caesars (CZR) team.
Following the closing, ZeroFlucs will remain operational under the leadership of Steve Gray and Carly Christensen, who also joins Caesars Digital as Senior Vice President of Pricing Technology, and will be augmented by seasoned members of Caesars’ data science and data engineering teams.
More about ZeroFlucs: The company is a Brisbane-based startup that provides cutting-edge technology for bookmakers and wagering service providers in the sports betting industry. The core offering enables same-game betting through a simulation-based architecture that generates multiple betting propositions from minimal inputs. ZeroFlucs’ technology allows customers to double their margins by running low-cost simulations to quantify bet success probabilities and set optimal pricing. The company prioritizes automation, efficiency, and continuous integration/delivery to minimize costs while maximizing analysis accuracy. Notably, by leveraging Harness CI/CD and Feature Flags, ZeroFlucs has reduced infrastructure costs by 60% while processing over 1 billion flag evaluations daily.