DraftKings Stock (NASDAQ:DKNG)
Following a rumor that the business was close to inking a deal with Disney’s (DIS) ESPN, the share price of DraftKings (NASDAQ:DKNG) increased by 4.55% during Friday’s trading session in the middle of the day, making DraftKings (NASDAQ:DKNG) a significant outperformer in the consumer sector.
It is not clear if an announcement of a settlement is on the horizon or if discussions are still taking place.
“Our partnership with ESPN has been fruitful and enduring for many years. On the other hand, we maintain a policy of not commenting on the nature of the talks that we have with the many different businesses that we interact with daily, “reads a statement released earlier in the day by DraftKings (NASDAQ:DKNG).
DraftKings betting odds would be incorporated on ESPN broadcasts, and the sportsbook itself would rebrand itself with the ESPN name if the agreement were to go through. This would create significant upheaval in the industry of sports betting.
Oppenheimer said it has a favorable leaning toward the possibility of cooperation between DKNG and ESPN. The company believes that an agreement will provide greater odds integrations, allowing them to better steer customers to betting options that will speed up the adoption of same-Game Parlay and live-to-bet.
After FanDuel’s investments in its own over-the-top channel and operators like Caesars and BetMGM cutting down on advertising, analyst Jed Kelly and his colleagues think DKNG is in a good negotiation position as the only operator with the budget size to fulfill DIS partnership conditions.
Watch this space: on Friday in London, the parent company of FanDuel, Flutter Entertainment (OTCPK:PDYPY), had a drop of 1.45%. Wynn Resorts saw a loss of 1.38%, Caesars Entertainment experienced a loss of 3.37%, and MGM Resorts experienced a loss of 1.25%. Penn National Gaming, the owner of Barstool, experienced a loss of 4.27%.
Featured Image- Megapixl @ Rafaelhenriquepress
Author Shariq Khan 
