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Investing.com — DraftKings (NASDAQ:DKNG) and Caesars (NASDAQ:CZR) Entertainment popped after inking deals with ESPN.
Shares of DratKings rose nearly 12% and Caesars was up almost 8%.
ESPN announced two separate multi-year agreements with each company. Both deals include integrations across ESPN digital platforms connecting fans to sportsbooks from Caesars Entertainment’s sports betting partner, William Hill, and DraftKings. As part of the new agreements, ESPN expands its relationships with both Caesars, as the exclusive odds provider and co-exclusive sportsbook link-out provider, and DraftKings, as the exclusive daily fantasy sports provider and co-exclusive sportsbook link-out provider.
As part of the new Caesars agreement, Caesars Sportsbook by William Hill will also become a sponsor of ESPN’s Fantasy products.
Under the new DraftKings deal, DraftKings will also become ESPN’s exclusive daily fantasy sports and co-exclusive sportsbook link-out provider. Additionally, DraftKings will power integrations across all ESPN content, beginning with daily fantasy sports segments on ESPN’s premier studio shows.
All sportsbook links will be geo-targeted to legalized sports betting states.
“Sports betting is quickly becoming endemic to the overall experience of the sports fan,” said Mark Walker, senior vice president of Business Development & Innovation, ESPN. “To us, that means greater opportunities to innovate and deliver the best and most seamless experience for fans, which will ultimately expand ESPN’s brand and audience and increase engagement. It is an industry that we will continue to actively pursue as it grows and evolves.”
ESPN is owned by Walt Disney Company (NYSE:DIS), which was little changed.
