DraftKings Stock (NASDAQ:DKNG)
The possibility of a sports betting relationship between DraftKings (NASDAQ:DKNG) and Disney remained a topic of discussion among industry analysts. As a result, DraftKings stock was trading in red today.
BTIG analyst Clark Lampen and the rest of the team feel that DraftKings (NASDAQ:DKNG) is more confident in its offering and that a partnership with EPSN would enable it to pursue market share in current states and the key ones that the brand has yet to debut in. It is essential to note that EPSN is also considered a potential launch platform for worldwide growth.
However, Needham goes one step further by speculating on the possibility of expanding its operations into India. Analyst Bernie McTernan pointed out that news stories and industry sources the company has talked to point to the possibility that India is heading toward regulating sports betting.
Reports indicate that India will bring in $1.5 billion in mobile income this year even though the sector there is entirely unregulated.
“In light of the present state of the equities markets, we find it unlikely that DraftKings stock would pursue this possibility independently. The market-leading position that Disney+HotStar now has makes it possible that pursuing this possibility in conjunction with Disney+HotStar might be more attractive.”
In the case of India, DraftKings (NASDAQ:DKNG) could provide the technology to a joint venture, with HotStar serving as the brand name for the business. Disney+Hotstar’s sports rights holdings in India include those for cricket leagues, kabaddi, Wimbledon, the English Premier League, and other competitions.
Featured Image- Megapixl @ Rafaelhenriquepress
Author Shariq Khan 
