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Shares of DraftKings surged on Monday after the company announced a partnership with ESPN.

Shares of DraftKings surged on Monday after the company announced a partnership with ESPN, according to CNBC.

The agreement states that DraftKings will be the provider of daily fantasy sports and a partner for gambling within ESPN. DraftKings will integrate their content into ESPN's interface. Shares of DraftKings surged 17 percent after the announcement. Financial terms of the deal have not been disclosed.

“We look forward to this collaboration to exclusively showcase DraftKings’ daily fantasy content and offerings while also advancing further visibility and mainstream adoption of our regulated sports betting products,” DraftKings CEO Jason Robins said. 

DraftKings share went public after a merger in April and are up 170 percent despite US sports being postponed for months amid the pandemic. Michael Jordan was named a special advisor to the board of directors earlier this month.

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