Disney-owned ESPN is in talks with sports activities playing giants Caesars Leisure and DraftKings to license its model to certainly one of them, with the winner of the bidding probably naming its sportsbook after the sports activities broadcaster in a deal price no less than $3 billion, The Wall Avenue Journal reported Friday.
The deal would enable ESPN to get in on the profitable sports activities betting market with out opening and working a sportsbook by itself, the Journal stated, although it famous the talks may fall via.
Markets reacted strongly to the information, with shares of Caesars rising 4.25% Friday to $104.24, whereas Disney rose 2.03% to $180.14 and DraftKings climbed 3.72% to $60.01.
ESPN already has shut ties with each Caesars and DraftKings, establishing a advertising take care of each firms in September 2020 that set DraftKings as ESPN’s unique day by day fantasy sports activities supplier and Caesars as ESPN’s unique odds supplier. The sports activities media big additionally opened an ESPN studio on the Caesars-owned Linq Resort on the Las Vegas strip in August 2020. ESPN has more and more dedicated to offering sports activities betting content material, together with the Day by day Wager tv present, which is filmed on the Linq and airs on ESPN+, its paid subscription division.
$44 billion. U.S. playing income is about to surpass $44 billion in 2021, which might be essentially the most profitable whole ever.