Mentioned:
ESPN has a new partner for sports betting: DraftKings.
What’s happening:
- DraftKings (NASDAQ: DKNG) has landed a new multi year deal with ESPN to become their official odd provider and sports betting partner
Why it matters:
- This is the first time ever that DraftKings has been selected by ESPN to be their official gambling partner
Going deeper:
- ESPN will directly integrate DraftKings’ betting platform within ESPN’s streaming, digital media and mobile app to drive new users as part of the new deal
- PENN Entertainment (NASDAQ: PENN) was previously the official sports betting partner of ESPN prior to ESPN ending the deal early due to PENN Entertainment failing to hit specific performance milestones
The fine print:
- The financial terms of the deal between ESPN and DraftKings have not yet been publicly disclosed
