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DraftKings Teams Up With ESPN

Online sports betting company DraftKings (NASDAQ: DKNG) and Walt Disney's (NYSE: DIS) ESPN sports network have announced an agreement today making DraftKings the exclusive daily fantasy sports provider to the network.

The partnership will also open up many opportunities for DraftKings to expand its client base. ESPN's digital sites will begin providing links to DraftKings' products and offerings.

Image source: Getty Images.

This is the second partnership agreement DraftKings has announced within a week. It also expanded its reach into Illinois when it said Accel Entertainment (NYSE: ACEL) will promote DraftKings content and programming on Accel's 2,300 Illinois video betting machines.

Today's announced deal with ESPN is more far-reaching, however. Beginning with daily fantasy sports, DraftKings content will drive current and future ESPN studio shows with dedicated promotional segments. DraftKings will now also be able to display its products and services across ESPN's digital platforms.

DraftKings co-founder, chairman, and CEO Jason Robins called ESPN the "go-to source for many fans today" for the biggest sports-related stories. DraftKings plans to benefit from its popularity from links to its products, including advertising retail sportsbooks in certain states.

For its part, ESPN is seeking to expand its base and grow its popular brand as the interest in sports evolves. As legalized sports betting grows in this country, ESPN wants to take part in that growth. "Sports betting is quickly becoming endemic to the overall experience of the sports fan," Mark Walker, ESPN senior vice president of business development and innovation, said in a statement.

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Howard Smith owns shares of Walt Disney and has the following options: long January 2021 $80 calls on Walt Disney and short October 2020 $125 calls on Walt Disney. The Motley Fool owns shares of and recommends Walt Disney and recommends the following options: long January 2021 $60 calls on Walt Disney and short October 2020 $125 calls on Walt Disney. The Motley Fool has a disclosure policy.


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