ESPN has forged two separate deals with DraftKings and Caesars Entertainment that will give access to its viewers to their sportsbooks.
These partnerships include co-exclusive link integrations across all the platforms of the sports channel. The association with enable ESPN’s viewers to have access to the sportsbooks of DraftKings and William Hill.
ESPN’s Vice President of Business Development & Innovation Mike Morrison stated:
“Our new deals with DraftKings and Caesars collectively represent the next significant milestone for ESPN to diversify out exposure, besides deepening our commitment to the sports betting space. We started growing the experience through content, followed by odds utilizing William Hill’s sports betting data and a novel state-of-the-art studio facility in LA through our deal with Caesars. Now, with the addition of DraftKings, we are bringing together the sports media leader with the two leading brands and best products in the segment.”
Chance to Reach a Broader Audience
DraftKings will now be ESPN’s exclusive partner with daily fantasy sports and co-exclusive sportsbook link-out. Besides, the Boston-based sports betting company will power integrations across all ESPN content. This will kick-off with the production of daily fantasy sports segments in the sports network’s premiere studio shows.
This partnership is an ideal opportunity for DraftKings to reach a broader audience, thanks to ESPN’s extensive sports network.
The NFL’s 2020 campaign just kicked-off last week, and with NBA, NHL, and MLB season currently underway, the news of DraftKings’ union with ESPN could not have come at a better time.
Increasing Their Ongoing Collaboration
Meanwhile, Caesars Sportsbook will be ESPN’s sponsor for Fantast products. It should be noted that Caesars Sportsbook is powered by William Hill.
ESPN’s unmatched access and Caesar’s link to William Hill’s technology will enable sports fans to engage and wager at their fingertips using the apps.
The partnership comes soon after ESPN and Caesars increased their existing collaboration by setting up ESPN’s state-of-the-art studio in LA at the LINQ Hotel + Experience.
The studio is likely to offer Vegas-exclusive sports betting and entertainment news to enthusiasts around the world. In addition, ESPN’s Daily Wager show has also been shifted to the LINQ studio starting this month.
DraftKings and Caesars Stocks Rise
Soon after the announcement of the union on Monday, DraftKings’ shares jumped as much as over 17 percent. Though initially, the shares were running a bit negative, they soared after the announcement.
DraftKings shares have soared more than 170 percent since going public through a merger last April.
Earlier in September, the sports betting entity got a boost following Michael Jordan’s inclusion as a special advisor to its Board of Directors.
Caesar’s stock also received aftershocks following ESPN’s announcement. It rose more than 9 percent on Monday, soaring to over $54 per share in the afternoon trading. The jump comes after Caesars Entertainment shares had a 47.5 percent gain in August following its merger with El Dorado resorts and the reopening of its casino establishments.
Riding the Gambling Bandwagon
US sports betting has taken a huge stride since the Supreme Court annulled the Professional and Amateur Sports Act in 2018. The ruling paved the way for the states to legislate on sports betting within their jurisdiction. The verdict has also encouraged sports media companies to ride on the gambling bandwagon.
Apart from ESPN, Warner Media-owned Turner Sports has joined hands with Bleacher Report for gambling-related content. Also, it has a branded studio with Caesars Palace. In addition, Fox Sports has even provided a platform for facilitating sports bets through its mobile app Fox Bet.