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Why The DraftKings CEO Expects More States To Legalize Sports Betting

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Why The DraftKings CEO Expects More States To Legalize Sports Betting

DraftKings CEO Jason Robins joined CNBC on Monday to discuss the company’s partnerships with DISH Network and the UFC.

Robins On DraftKings: The CEO of DraftKings Inc (NASDAQ: DKNG) told CNBC the sportsbook deal signed with DISH Network (NASDAQ: DISH) is about convenience.

“The goal is to think of it from customer perspective,” Robins said.

Viewers can place a bet through their phone and interact with bets on the screen. Robins said the company is very customer-centric.

DraftKings recently announced an exclusive partnership with the UFC.

“UFC’s been extraordinary for us,” the CEO said. 

Video: Watch Ark Invest's Cathie Wood talk DraftKings with Benzinga. 

The deal makes DraftKings the exclusive sports betting partner of the MMA company. 

DraftKings will get branded placement on UFC items, including mats during matches.

Robins said the company has been helped by some tailwinds like people being under stay-at-home orders. Going forward, DraftKings could benefit as more states look to fight budget crunches with faster adoption of sports betting legalization in additional states, he said. 

The CEO said he does not expect online sports betting to ever be legal in all 50 states, pointing to some states that still do not have lottery systems in place or land-based casinos.

Related Link: DraftKings Analysts Cheer Strong Q4 Sports Betting Growth And SBTech Integration

DraftKings Investor Day Tuesday: DraftKings is set to host an investor day Tuesday, March 9. 

The company could provide more updates on its SBTech integration, which is set to happen later this year.

DraftKings could also provide an updated look at the states pushing for legalized sports betting and how DraftKings will enter those states.

The DISH Network deal does not have a launch date, which could be another investor day topic. 

DKNG Price Action: Shares of DraftKings gained 1.65% Monday, closing at $60.50.

 

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