ESPN Enters into Partnership with Caesars
EPSN has struck a co-exclusive deal with Caesars Entertainment
ESPN has entered into an agreement with two major sports betting brands, further boosting their profile as they look to expand into the sports betting industry. Caesars Entertainment and DraftKings have revealed they have agreed to a multi-year deal with ESPN, giving the giant broadcaster sports and fantasy sports data and information. Due to their existing partnership with Caesars Entertainment, William Hill is also set to benefit from the agreement.
This is a landmark deal and is the first time any such agreement has been reached, with DraftKings and Caesars both getting valuable direct links on the ESPN.com page and the ESPN mobile app. The two companies will also get advertisement rights through ESPN and its numerous associated broadcasting networks.
There are partnerships already in place between ESPN, DraftKings, and Caesars Entertainment, and this new deal with further expand on those. As part of the agreement, Caesars is now the exclusive odds provider for ESPN, with DraftKings becoming the official daily fantasy sports provider.
The links between the companies are already there as ESPN hosts the “Daily Wager” betting at the Linq Hotel in Vegas, which is owned by Caesars. It was only last week that Linq hosted the ESPN show for the first time, which shows the budding partnership between the two companies.
Disney Joins the Party
ESPN is part of the global mammoth that is the Walt Disney Company. Senior figures at both Disney and ESPN have been exploring various ways they may be able to expand into the sports betting industry, and these new agreements provide the perfect platform to achieve that goal.
Disney aims to utilize ESPN to attract more gamblers to the company, which gives them the scope to make more money. As sports betting continues to grow (it is now legal in 18 states across the country), Disney will be tapping into those areas.
Sports betting has gained tremendous momentum among the United States population in recent years, which will generate additional viewership. EPSN is well-known as the host of numerous major sporting events and tournaments, and partnerships such as these should see their TV ratings soar.
Disney owns a 6% stake in DraftKings as part of the deal, which saw them take over 21st Century Fox. The 6% share is non-voting equity but shows that the two companies can co-exist to increase revenue.
William Hill also big Winners
It is not just Caesars and DraftKings who have benefitted from this deal. William Hill sportsbook will see a significant boost as well. As they are partners with Caesars Entertainment, they will be featured as part of the ESPN and Caesars deal.
William Hill are the mobile app creators for the Caesars sportsbook, with the app looking to launch before the end of the year. The Caesars sportsbook app will launch in Indiana, New Jersey, Pennsylvania, and Nevada.
The Caesars sportsbook has now become a sponsor of the fantasy games that are currently available at ESPN. Direct links to the sportsbook from the ESPN homepage and the ESPN mobile app will also be added.
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