{"id":236645,"date":"2022-10-10T15:33:20","date_gmt":"2022-10-10T20:33:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=236645"},"modified":"2022-10-10T16:13:01","modified_gmt":"2022-10-10T21:13:01","slug":"espn-deal-could-help-draftkings-expand-outside-us","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/","title":{"rendered":"ESPN Deal Could Spur DraftKings International Expansion, Say Analysts"},"content":{"rendered":"

DraftKings\u2019 (NASDAQ: DKNG) widely anticipated deal with Walt Disney\u2019s (NYSE: DIS) ESPN<\/em> unit, which has yet to be confirmed by either party, could spur the gaming company\u2019s international expansion efforts, according to industry analysts.<\/p>\n

\"DraftKings
A promotion for ESPN<\/em> programming. Analysts are discussing the network’s potential deal with DraftKings. (Image: ESPN<\/em>)<\/figcaption><\/figure>\n

Rumors surfaced last week<\/a> that the two companies are working on an exclusive agreement. But details are to this point scant, as neither side has confirmed the negotiations.<\/p>\n

\n

Last year, ESPN <\/em>was rumored to be seeking a $3 billion licensing pact<\/a> with a sportsbook operator, and it\u2019s believed the network held talks on that subject with Caesars and DraftKings. Investors are likely hoping for something more substantive than simply a licensing accord, and they likely don\u2019t want to see money-losing DraftKings shelling out $3 billion.<\/p>\n<\/div>\n

Regarding markets outside the US, DraftKings, along with several domestic rivals, operates in Ontario, Canada. The bulk of US-based online sportsbook operators — Rush Street Interactive (NYSE: RSI) being a notable exception<\/a> — don\u2019t currently operate outside the US and Canada.<\/p>\n

ESPN Deal Could Open India to DraftKings<\/h2>\n

In a note to clients, Needham analyst Bernie McTernan said that as India moves toward regulating sports wagering, that\u2019s a market where DraftKings could make inroads if it reaches a pact with ESPN.<\/em><\/p>\n

Given the current equity markets, we would be surprised if DKNG would act on this opportunity on a standalone basis. However, attacking this opportunity with Disney+HotStar could be more interesting given the leadership position Disney+HotStar has in the market,\u201d he wrote.<\/strong><\/p><\/blockquote>\n

In India, Disney+Hotstar holds broadcast rights to cricket leagues, kabaddi, Wimbledon, English Premier League, and more, making it a potentially compelling partner for DraftKings, assuming the country regulates sports wagering.<\/p>\n

The market is likely attractive to a variety of gaming companies. There were an estimated $1.5 billion in unregulated sports wagers placed there last year. India is also the world\u2019s second-largest country by population and home to Asia\u2019s third-largest economy.<\/p>\n

DraftKings Needs ESPN<\/em> Splash<\/h2>\n

Some market observers argue that any DraftKings\/ESPN<\/em> arrangement needs to be about much more than content because content alone won\u2019t move the needle<\/a> for investors.<\/p>\n

For DraftKings, that pressure could be amplified, as the stock plunged nearly 14% today. That drop came on news that the company and competitors are pulling back on advertising for Proposition 27 in California because it appears likely the initiative is heading for defeat.<\/p>\n

On a somewhat related note, BTIG analyst Clark Lampen points out in a communication to clients today that DraftKings could leverage the ESPN <\/em>brand to gain access to new states and expand market share along with the possibility of international expansion.<\/strong><\/p>\n

Neither DraftKings nor Disney have set a timeframe for publicly announcing an agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings\u2019 (NASDAQ: DKNG) widely anticipated deal with Walt Disney\u2019s (NYSE: DIS) ESPN unit, which has yet to be confirmed by either party, could spur the gaming company\u2019s international expansion efforts, according to industry analysts. Rumors surfaced last week that the two companies are working on an exclusive agreement. But details are to this point scant, […]<\/p>\n","protected":false},"author":46,"featured_media":236649,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[81842,83176],"acf":[],"yoast_head":"\nESPN Deal Could Help DraftKings Expand Outside US<\/title>\n<meta name=\"description\" content=\"DraftKings international ambitions could be sped along by deal with ESPN.\" \/>\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\/espn-deal-could-help-draftkings-expand-outside-us\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESPN Deal Could Help DraftKings Expand Outside US\" \/>\n<meta property=\"og:description\" content=\"DraftKings international ambitions could be sped along by deal with ESPN.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/\" \/>\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=\"2022-10-10T20:33:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-10T21:13:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/ESPN.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\/espn-deal-could-help-draftkings-expand-outside-us\/\",\"url\":\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/\",\"name\":\"ESPN Deal Could Help DraftKings Expand Outside US\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/ESPN.jpg\",\"datePublished\":\"2022-10-10T20:33:20+00:00\",\"dateModified\":\"2022-10-10T21:13:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings international ambitions could be sped along by deal with ESPN.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/espn-deal-could-help-draftkings-expand-outside-us\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/ESPN.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/ESPN.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"A promotion for ESPN programming. 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