{"id":1078,"date":"2024-01-27T12:18:10","date_gmt":"2024-01-27T09:18:10","guid":{"rendered":"https:\/\/xxbet-company.com\/barstool-draftkings-partnership-could-be-interesting-says-analyst\/"},"modified":"2024-01-27T12:18:10","modified_gmt":"2024-01-27T09:18:10","slug":"barstool-draftkings-partnership-could-be-interesting-says-analyst","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/nb\/barstool-draftkings-partnership-could-be-interesting-says-analyst\/","title":{"rendered":"Barstool, DraftKings Partnership Could Be Interesting, Says Analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Innholdsfortegnelse<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/nb\/barstool-draftkings-partnership-could-be-interesting-says-analyst\/#RiskReward_for_DraftKings\" title=\"Risk\/Reward for DraftKings\">Risk\/Reward for DraftKings<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/nb\/barstool-draftkings-partnership-could-be-interesting-says-analyst\/#Impact_On_ESPN_Bet_Worth_Monitoring\" title=\"Impact On ESPN Bet Worth Monitoring\">Impact On ESPN Bet Worth Monitoring<\/a><\/li><\/ul><\/nav><\/div>\n<p>On Wednesday, reports surfaced that <em>Barstool Sports<\/em> and DraftKings (NASDAQ: DKNG) are in advanced talks regarding a marketing agreement.<\/p>\n<figure aria-describedby=\"caption-attachment-285103\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" fetchpriority=\"high\" class=\"wp-image-285103 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-858x572.jpg\" alt=\"DraftKings sports betting commercial Kevin Hart\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/KevinHart_00643_SportsBar_Retouched-digital.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">Kevin Hart in a DraftKings commercial. The company\u2019s potential partnership with <em>Barstool Sports<\/em> could disrupt rivals. (Image: DraftKings)<\/figcaption><\/figure>\n<p>While the partnership \u2014 which could be announced soon after the Super Bowl \u2014 <a href=\"https:\/\/www.casino.org\/news\/barstool-sports-draftkings-reportedly-discussing-partnership\/\" rel=\"nofollow noopener\" target=\"_blank\">is expected to be basic<\/a>, it amounts to <em>Barstool<\/em> founder David Portnoy and his crew rejoining the sports betting landscape with an avenue to profit. It is doing so with one of the largest online sportsbook operators.<\/p>\n<p>The combination of Portnoy\u2019s ability to connect with younger bettors and DraftKings\u2019 enviable brand recognition could also prove potent. Those could be among the reasons analysts view the potential arrangement as potentially intriguing, though it likely lacks material impact for DraftKings\u2019 stock.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>We think it is too early to draw meaningful conclusions back to DraftKings\u2019 stock, while there is also no guarantee than an agreement is reached when the lock-up period expires at the end of NFL season,\u201d<\/strong> wrote Stifel analyst Jeffrey Stantial in a note to clients. <strong>\u201c<em>Barstool<\/em> is likely exploring multiple options, and Dave Portnoy has proven a shrewd negotiator. That said, we believe an exclusive agreement, if reached, further adds to &#038; illustrates the advantages to scale.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Stantial <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-upgraded-to-buy-by-stifel\/\" rel=\"nofollow noopener\" target=\"_blank\">rates DraftKings a \u201cbuy\u201d<\/a> with a $45 price target, which implies upside of 16.3% from Thursday\u2019s close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"RiskReward_for_DraftKings\"><\/span>Risk\/Reward for DraftKings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Last August, after investing $551 million to acquire <em>Barstool Sports,<\/em> Penn Entertainment sold the company back to Portnoy for just $1. That was\u00a0 part of the regional casino operator\u2019s move to partner with ESPN.<\/p>\n<div class=\"callout\">\n<p>Following that deal, Portnoy acknowledged his controversial nature <a href=\"https:\/\/www.casino.org\/news\/portnoy-back-in-full-control-of-barstool-sports-wont-sell-again\/\" rel=\"nofollow noopener\" target=\"_blank\">may have cost Penn<\/a> sports betting licenses in some states. On a related note, Stantial observed that while financial risks to DraftKings are low, there is potential for some reputational risk in working with <em>Barstool<\/em>.<\/p>\n<\/div>\n<p>As for the types of bettors <em>Barstool<\/em> could bring to DraftKings, it\u2019s probable that \u201cstoolies\u201d \u2014 the colloquial term for <em>Barstool <\/em>devotees \u2014 are mostly recreational punters.<\/p>\n<p>\u201cHigh average handle per user for loyal Barstool gamblers seems to conflict with DraftKings\u2019 tendency to limit sharp bettors, though we sense there are likely more squares than sharps in that high-spending legacy Barstool user cohort,\u201d added Stantial.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Impact_On_ESPN_Bet_Worth_Monitoring\"><\/span>Impact On ESPN Bet Worth Monitoring<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data indicate that Penn\u2019s recently launched ESPN Bet, the operator\u2019s replacement for Barstool Sportsbook, <a href=\"https:\/\/www.casino.org\/news\/espn-bet-already-outpacing-predecessor-barstool-sportsbook\/\" rel=\"nofollow noopener\" target=\"_blank\">is outperforming its predecessor<\/a>. While Barstool Sportsbook\u2019s handle was low in the states in which it operated, it\u2019s possible that some stoolies are now ESPN Bet customers and they could migrate to another app with the endorsement of Portnoy.<\/p>\n<p><strong>In other words, a <em>Barstool<\/em>\/DraftKings relationship could have an impact on ESPN Bet and other online sportsbooks.<\/strong><\/p>\n<p>\u201cWe also note the expiration of Barstool\u2019s lock-up period and potential marketing partnership with a competitor comes at a time when proving out ESPN Bet user retention is critical. As such, we will monitor this development closely, both as it relates to our thesis &#038; estimates for DraftKings, as well as PENN\u2019s ESPN Bet market share &#038; strategy,\u201d concluded Stantial.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/barstool-draftkings-partnership-offers-intrigue\/\" rel=\"nofollow noopener\" target=\"_blank\">Barstool, DraftKings Partnership Could Be Interesting, Says Analyst<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>On Wednesday, reports surfaced that Barstool Sports and DraftKings (NASDAQ: DKNG) are in advanced talks regarding a marketing agreement. Kevin Hart in a DraftKings commercial. The company\u2019s potential partnership with Barstool Sports could disrupt rivals. (Image: DraftKings) While the partnership \u2014 which could be announced soon after the Super Bowl \u2014 is expected to be <a href=\"https:\/\/xxbet-company.com\/nb\/barstool-draftkings-partnership-could-be-interesting-says-analyst\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1078"}],"collection":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/comments?post=1078"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media?parent=1078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/categories?post=1078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/tags?post=1078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}