{"id":173639,"date":"2021-05-14T00:39:23","date_gmt":"2021-05-14T07:39:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=173639"},"modified":"2021-05-14T10:15:35","modified_gmt":"2021-05-14T17:15:35","slug":"draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/","title":{"rendered":"DraftKings Dreaming of Streaming Acquisition, Says Analyst"},"content":{"rendered":"

For now, DraftKings (NASDAQ:DKNG) is primarily viewed as an online sports betting company. But it’s made its plans to be an omnichannel, vertically integrated enterprise clear, and that could eventually include a streaming entertainment acquisition, according to one analyst.<\/p>\n

\"DraftKings
DraftKings CEO Jason Robins seen in a CNBC<\/em> interview last week. An analyst sees the company moving into streaming entertainment. (Image: CNBC<\/em>)<\/figcaption><\/figure>\n

In a recent note to clients, Oppenheimer internet analyst Jed Kelly said DraftKings has ambitions that lie beyond online sports wagering. Those include a possible metamorphosis into a broader sports entertainment outfit with multiple revenue sources.<\/p>\n

We see DKNG making a larger push into streaming, where they can put the sports book experience into users\u2019 homes and integrate sports analytics content,\u201d<\/strong> said the analyst.<\/p><\/blockquote>\n

The Boston-based company is making clear its intent to be a player in the media landscape. Last month, it signed a $50 million deal <\/a>with Meadowlark Media, the owner of Dan Le Batard\u2019s network of shows. Prior to that, it acquired Vegas Sports Information Network (VSiN) and hired former Verizon executive Brian Angiolet to run its media arm.<\/p>\n

DraftKings, Streaming Practical Idea<\/h2>\n

DraftKings recently launched a channel on the SLING TV<\/a> streaming service after notching a similar accord with DISH Network. So its potential over-the-top (OTT) ambitions aren’t far-flung.<\/p>\n

Plus, the virtual multichannel video programming distributors business (vMVPD) industry provides the added allure of revenue stream diversification. Currently, online sports wagering, internet casinos, and daily fantasy sports (DFS) are the primary drivers of DraftKings’ top line.<\/p>\n

\n

However, the first two are heavily dependent on political and regulatory outcomes. Once beloved, DraftKings stock has recently been pounded<\/a>, shedding 30.38 percent for the month ending May 13. That’s as investors speculate the company faces difficulty entering the New York market and may not be able to get into Florida if sports betting is permitted in that state.<\/p>\n<\/div>\n

Compounding those woes, gaming legislation recently died in Texas. Those scenarios may confirm DraftKings’ desire to push further into entertainment.<\/p>\n

With a streaming deal, the company could \u201ccreate two or three additional revenue streams they currently don\u2019t have with an engaged user base,\u201d<\/strong> said Kelly.<\/p>\n

Possible Partners<\/h2>\n

The Oppenheimer analyst doesn’t mention specific streaming candidates DraftKings could purchase. But he does note heavy costs are involved in either buying a dedicated OTT sports provider or building one from the ground up.<\/p>\n

With sportsbook ambitions of its own and possible synergies with DraftKings in the nascent, but opportunity-laden in-game betting <\/a>market, fuboTV (NYSE:FUBO) could make for a logical target for the suitor. But that’s just speculation at this point.<\/p>\n

What is clear is that with $3 billion in cash and a fast-growing reputation for making deals, it wouldn’t be surprising to see DraftKings enter the streaming space at some point. It’s a matter of how that entry occurs and how much the gaming company has to dole out to make it happen.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

For now, DraftKings (NASDAQ:DKNG) is primarily viewed as an online sports betting company. But it’s made its plans to be an omnichannel, vertically integrated enterprise clear, and that could eventually include a streaming entertainment acquisition, according to one analyst. In a recent note to clients, Oppenheimer internet analyst Jed Kelly said DraftKings has ambitions that […]<\/p>\n","protected":false},"author":46,"featured_media":173640,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\nDraftKings Could Add to its Acquisitions with Streaming, Says Analyst<\/title>\n<meta name=\"description\" content=\"DraftKings streaming acquisition possible as company could see OTT as way to diversify revenue, says analyst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Could Add to its Acquisitions with Streaming, Says Analyst\" \/>\n<meta property=\"og:description\" content=\"DraftKings streaming acquisition possible as company could see OTT as way to diversify revenue, says analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-14T07:39:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-14T17:15:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/robins.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/\",\"name\":\"DraftKings Could Add to its Acquisitions with Streaming, Says Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/robins.jpg\",\"datePublished\":\"2021-05-14T07:39:23+00:00\",\"dateModified\":\"2021-05-14T17:15:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings streaming acquisition possible as company could see OTT as way to diversify revenue, says analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-could-add-to-its-acquisitions-with-streaming-says-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/robins.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/robins.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"DraftKings CEO Jason Robins in a CNBC interview last week. 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