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The 2 Stocks Spiking On FanDuel Partnerships, Major Radio Advertising Commitment

The 2 Stocks Spiking On FanDuel Partnerships, Major Radio Advertising Commitment

FanDuel announced a partnership Thursday with sports radio company Entercom, as well as a new deal with Twin River Worldwide Holding for a retail sportsbook.

What Happened: FanDuel, owned by Flutter Entertainment (OTC: PDYPY), announced a deal to become the official sportsbook of Entercom Communications Corp (NYSE: ETM).

Under the deal, FanDuel will provide odds, insight and promotions to Entercom users. The companies will also collaborate on integration and co-produce new content for listeners.

FanDuel also announced a deal with Twin River Worldwide Holdings (NYSE: TRWH) to operate a retail sportsbook at Bally’s Atlantic City Hotel & Casino in New Jersey by the end of 2020.

The two companies will open a temporary sportsbook on the first floor of the casino, with a permanent location planned for spring 2021.

Why It’s Important: Entercom is the leader in sports radio, with three times more listeners than the next leading competitor, according to Thursday's press release. 

Entercom owns 39 all-sports stations across the U.S., including in major cities like New York, Philadelphia and Chicago.

Entercom is also the official radio home of some of the largest sports teams in the nation like the New York Yankees, Boston Red Sox, Dallas Cowboys, Kansas City Chiefs, Golden State Warriors, Chicago Bulls and University of Michigan athletics.

Entercom properties are “one of the best ways for us to engage FanDuel customers,” said FanDuel CEO Matt King. 

Entercom CEO David Field said it's the largest advertising commitment ever made in the radio industry. 

Field called FanDuel an “ideal partner” and said he expects the partnership to provide a better sports experience for listeners.

Twin River is in the process of acquiring Bally’s Atlantic City Casino. The deal with FanDuel is part of the company’s goal of transforming the property.

ETM, TRWH Price Action: Entercom shares were trading 9.56% higher at $1.60 at last check Thursday. Twin River shares were up 3.22% at $24.33. 


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