DraftKings Inc DKNG has inked a number of partnerships with sports leagues and teams to gain access to fan bases and branded advertising opportunities.
What Happened: In its latest move, the Detroit Pistons and DraftKings announced a partnership covering daily fantasy, sports betting and iGaming.
The deal gives DraftKings access to the trademarks and logos of the Detroit Pistons. DraftKings also gets branded courtside LED signage.
DraftKings will launch the partnership with several prize packages including the chance to win the “Piston For A Day” package.
Related Link: DraftKings Signs Deal With Chicago Cubs
Why It’s Important: Mobile sports betting will launch soon in the state of Michigan. DraftKings is signing this partnership ahead of the launch and ahead of the upcoming NBA season, which is expected to begin Dec. 22.
DraftKings is launching a free to play Pistons popularity pool on its sportsbook, casino and daily fantasy apps. The company is also offering a $200 free bonus to those who sign up in Michigan.
DraftKings will gain access to the fan base of the Pistons, which could help it establish a user base for its upcoming mobile sports betting and iGaming products.
“As our first professional team activation in the state of Michigan, we are thrilled to join forces with the Detroit Pistons ahead of our pending market introduction,” said DraftKings Chief Business Officer Ezra Kucharz.
The NBA's media week is set to begin Dec. 1 and preseason games are scheduled to begin Dec. 11.
DKNG Price Action: Shares of DraftKings are up 1% to $53.30 in pre-market trading Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
