BUSINESS

Latitude 360 acquire Major League Fantasy to support ‘fantasy sportsbooks’ plan

TAGs: daily fantasy sports, latitude 360, major league fantasy, PlayMLF

latitude-360-major-league-fantasy-sportsbooksUS restaurant and entertainment chain Latitude 360 has acquired daily fantasy sports (DFS) operator Major League Fantasy (MLF) in order to create the first live in-venue ‘fantasy sports books.’

Latitude 360 currently operates three properties in Florida, Indiana and Pennsylvania, with a new property under construction in Albany, New York and further expansion plans in Boston, Chicago, Minneapolis and New York City. Lattitude 360’s properties already include “HD Sports Theaters” which feature sportsbook-style video arrays displaying a variety of live sports events.

Terms of the deal weren’t disclosed, but Latitude 360 CEO Brent Brown promised that the new ‘360 Fantasy LIVE’ offering would be ready for this fall’s kickoff of the new NFL season. The plan is to add iPads to the sports theaters to enable DFS wagering, with new game modes, daily featured prize contests and “interactive tools not found on any of the current fantasy sites or apps.”

MLF CEO Jesse Merl said he couldn’t imagine “a better way to grow our audience than to make it accessible” to Latitude 360’s patrons. Merl said Latitude 360’s venues would ensure that “our competitors will be fighting for second place in the live real-money fantasy vertical we are creating.”

The most eyebrow-raising feature of Latitude 360’s plans are their VIP “Black Rooms,’ which will offer high-rollers the ability to participate in contests with entry fees ranging from $250 to $25k. While you’re wagering, bet your bottom dollar that the size of these sums will amplify the phony debate over whether DFS is or isn’t gambling and increase calls for imposing regulations on the DFS sector.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com