TL;DR CNBC

DraftKings falls 10% on new threat for sports gambling market share from ESPN-Penn partnership

Publishing timestamp: 2023-08-09 16:06:16

Summary

DraftKings stock fell after Penn Entertainment signed a 10-year deal with ESPN to rebrand its sportsbook to ESPN Bet. This move could potentially impact DraftKings' non-exclusive marketing deal with ESPN, and raises questions about Disney's stake in DraftKings.

Sentiment: MIXED

Tickers: DKNG,  DIS,  PENN, 

Keywords: penn entertainment inc,  media,  walt disney co,  sports,  breaking news: markets,  breaking news: business,  draftkings inc,  business news,  markets, 

Source: https://www.cnbc.com/2023/08/09/draftkings-falls-10percent-on-new-threat-for-sports-gambling-market-share-from-espn-penn-partnership.html