The online betting operator DraftKings is rumored to be partnering with the cable television network ESPN. The word was first spread by Bloomberg, who cited people “familiar” with the topic. However, when asked to comment on the news by a number of high profile publications, both companies chose to stay silent.
A deal between the two conglomerates will enable the cable company to take advantage of the ever-growing iGaming and online betting industry by leveraging its brand and size. Furthermore, a partnership like that is not far-fetched, as the network has had ambitions to work with sports wagering companies for quite a few years.
According to the Wall Street Journal, the television company was reportedly looking to license its brand and logo for over 3 billion dollars. Additionally, the firm’s parent organization, Disney, owns a stake in DraftKings, making the deal even more likely.
DraftKings’s stock valuation jumped by nearly 10% as the rumors spread on the internet.