DraftKings Stock Soars to Record High After Exclusive Content Deal With ESPN
DraftKings saw a huge bump in its stock price on Monday following its exclusive content and marketing deal with ESPN, which was announced Monday morning. The sports gambling company saw shares of its stock price soar as high as 12% in mid-day trading on the NASDAQ, reaching a new record of $46.95 a share, though it has since come down slightly. DraftKings will be able to integrate its products across ESPN’s digital platforms and will provide dedicated segments for future EPSN studio shows, beginning with a daily fantasy sports promotion. DraftKings will also become ESPN’s exclusive daily fantasy sports and co-exclusive sportsbook link-out provider. Also Read: Barstool Sports Sells 36% Stake to Penn National Gaming Casino Operator for $163 Million “We are very excited to be expanding our relationship with ESPN to include deeper integration of both our sports betting and daily fantasy sports offerings across their platforms,” said Jason Robins, Co-Founder, Chairman and Chief Executive Officer of DraftKings. “ESPN’s reach amongst sports fans is unparalleled, and the start of NFL is the perfect time for DraftKings to be launching this integration.” Sports betting has exploded since the May 2018 decision by the U.S. Supreme Court to reverse a federal...
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