{"id":846,"date":"2023-02-23T17:16:13","date_gmt":"2023-02-23T14:16:13","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-could-buy-caesars-out-of-espn-deal-says-ekg\/"},"modified":"2023-02-23T17:16:13","modified_gmt":"2023-02-23T14:16:13","slug":"draftkings-could-buy-caesars-out-of-espn-deal-says-ekg","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/nb\/draftkings-could-buy-caesars-out-of-espn-deal-says-ekg\/","title":{"rendered":"DraftKings Could Buy Caesars Out of ESPN Deal Says EKG"},"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\/draftkings-could-buy-caesars-out-of-espn-deal-says-ekg\/#Win-Win_for_DraftKings_Caesars\" title=\"Win-Win for DraftKings, Caesars\">Win-Win for DraftKings, Caesars<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/nb\/draftkings-could-buy-caesars-out-of-espn-deal-says-ekg\/#DraftKings_ESPN_Ties\" title=\"DraftKings, ESPN Ties\">DraftKings, ESPN Ties<\/a><\/li><\/ul><\/nav><\/div>\n<p>It\u2019s been nearly three years since Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) each announced separate multiyear agreements with <em>ESPN<\/em>. Now, it\u2019s possible the latter will expand that relationship, potentially buying out the casino operator to do so.<\/p>\n<figure aria-describedby=\"caption-attachment-261030\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-261030 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/ESPN.jpg\" alt=\"DraftKings ESPN\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/ESPN.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/ESPN-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/ESPN-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/ESPN-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">An image for the DraftKings\/<em>ESPN<\/em> partnership. The gaming company could expand that deal. (Image: <em>Barrett Media<\/em>)<\/figcaption><\/figure>\n<p>That idea was floated by research firm Eilers &#038; Krejcik Gaming (EKG) in the most recent edition of its <em>EKG Line <\/em>report. Under the terms of the deals <a href=\"https:\/\/www.casino.org\/news\/caesars-draftkings-reach-landmark-deals-with-espn-sportsbook-ads-to-run-on-app-website\/\" rel=\"nofollow noopener\" target=\"_blank\">struck in September 2020<\/a>, the two gaming companies run advertising on ESPN.com, the most-visited sports website in the world, and on the<em> ESPN<\/em> mobile application. Both link directly to their respective sportsbooks, marking the first time in US history such a deal had been reached.<\/p>\n<p>With the sports wagering landscape and how operators dole out marketing dollars rapidly evolving, the time could be drawing near for the <em>ESPN <\/em>pacts to be altered.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>One logical path forward, in our view, was DraftKings buying out its co-exclusive partner Caesars to become the exclusive sportsbook partner of <em>ESPN<\/em>,\u201d according to EKG.<\/p>\n<\/blockquote>\n<p>The economics of such a move aren\u2019t known because the financial terms of the aforementioned 2020 agreements weren\u2019t revealed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Win-Win_for_DraftKings_Caesars\"><\/span>Win-Win for DraftKings, Caesars<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On its recent fourth-quarter earnings conference call, DraftKings noted it\u2019s taking a close look at team sponsorships, which could be an area for added cost reductions. However, CEO Jason Robins made clear the operator is bullish on its <em>ESPN<\/em> partnership.<\/p>\n<p>\u201cWe\u2019ve really enjoyed that relationship and gotten a lot out of it,\u201d Robins said on the call. \u201cAnd we always talk to our partners about ways that we can improve and extend and grow the relationship. And Disney and<em> ESPN<\/em> have been great partners thus far.\u201d<\/p>\n<div class=\"callout\">\n<p>For Caesars, moving on from the <em>ESPN<\/em> relationship would help the casino behemoth accomplish the goal of realizing $200 million in reduced marketing expenses which, in turn, could contribute to the objective of repeating or topping <a href=\"https:\/\/www.casino.org\/news\/caesars-wont-overspend-in-new-york-not-selling-assets\/\" rel=\"nofollow noopener\" target=\"_blank\">the $1.2 billion in debt<\/a> the company eliminated last year.<\/p>\n<\/div>\n<p><em>ESPN<\/em> wasn\u2019t mentioned on Caesars\u2019 fourth-quarter earnings call on Tuesday, but the gaming company noted its digital unit, which includes sports wagering, is closing in on profitability.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DraftKings_ESPN_Ties\"><\/span>DraftKings, ESPN Ties<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Disney <a href=\"https:\/\/www.casino.org\/news\/walt-disney-owns-six-percent-of-draftkings-in-passive-fashion\/\" rel=\"nofollow noopener\" target=\"_blank\">owns 6% of DraftKings<\/a> nonvoting equity, which the entertainment conglomerate got via its $71.3 billion takeover of 21<sup>st<\/sup> Century Fox in 2019. Disney is the parent company of <em>ESPN<\/em>. That\u2019s just one point highlighting the relationship between the network and the gaming company.<\/p>\n<p><strong>\u201cRoughly one-third of DraftKings digital advertising spend during Super Bowl week was attributable to ads run on ESPN.com, per Pathmatics,\u201d added EKG.<\/strong><\/p>\n<p>Bolstering the relationship with DraftKings could serve the aim of expanding <em>ESPN\u2019s <\/em>sports betting footprint. That could be useful at a time of executive change at Disney and as newly returned CEO <a href=\"https:\/\/www.casino.org\/news\/espn-spin-off-could-be-used-to-satisfy-activist-investor-peltz\/\" rel=\"nofollow noopener\" target=\"_blank\">Bob Iger focuses his energy<\/a> on content and initiatives that are more important than sports wagering is to the broader Disney thesis.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/draftkings-could-move-caesars-out-of-espn-deal-says-ekg\/\" target=\"_blank\">DraftKings Could Buy Caesars Out of ESPN Deal Says EKG<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>It\u2019s been nearly three years since Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) each announced separate multiyear agreements with ESPN. Now, it\u2019s possible the latter will expand that relationship, potentially buying out the casino operator to do so. An image for the DraftKings\/ESPN partnership. The gaming company could expand that deal. (Image: Barrett Media) <a href=\"https:\/\/xxbet-company.com\/nb\/draftkings-could-buy-caesars-out-of-espn-deal-says-ekg\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":847,"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\/846"}],"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=846"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media\/847"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media?parent=846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/categories?post=846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/tags?post=846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}