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DraftKings Partners With Gisele Bündchen: What Investors Should Know

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DraftKings Partners With Gisele Bündchen:  What Investors Should Know

DraftKings is taking steps to improve the company's ESG profile. 

What Happened: Gisele Bündchen was announced as a special advisor to the CEO and board of directors for Draftkings Inc.'s (NASDAQ: DKNG) ESG initiatives.

“Gisele Bündchen is a global icon who has utilized the platform she established in modeling, fashion and entertainment, to lead and advocate for vital environmental and social causes,” DraftKings CEO Jason Robins said.

DraftKings is launching an initiative to plant one million trees by Earth Day 2022. The company is launching daily fantasy contests and free-to-play contests.

The company will coordinate with the Arbor Day Foundation to plant 100,000 trees in states such as California, Florida, Michigan, Oregon, Vermont and Virginia.

Related Link: DraftKings Scores With New Investments And Hire, Pushing Further Into Media And Content Creation 

Why It’s Important: Bündchen was named one of the 100 most influential people in the world by Time Magazine and has been named to many top 100 Fashion Icon lists.

Bündchen is a supporter of environmental and social projects and serves as a Goodwill Ambassador for the United Nations Environmental Program since 2009.

She is also the wife of Tom Brady, one of the most well-known players in the National Football League. The NFL signed DraftKings as one of the three companies as the official sports betting partners of the league.

DraftKings recently released its inaugural company ESG report. The company calls responsibility its cultural GPS and is seeking to have responsible gaming, as well as be an inclusive company.

The ESG initiatives paired with Bündchen's announcement could make DraftKings an ESG play for investors looking for exposure to the sector.

Many ETFs and investment companies have started giving ESG rankings to companies, which could help DraftKings rank higher with these initiatives.

DKNG Price Action: Shares of DraftKings are down slightly to $56.67 on Wednesday morning.

(Photo: Sebástian Freire via Flickr)

 

 

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