Three sports betting companies were announced as official sports betting partners with the National Football League after market close Thursday.
What Happened: The NFL announced Caesars Entertainment Inc CZR, DraftKings Inc DKNG and FanDuel as “official sports betting partners” of the league. All three have multi-year agreements in place.
The deal gives the three companies the ability to leverage NFL marks within the sports betting category. NFL-themed free-to-play games will be launched for fans from the three brands.
Why It’s Important: The NFL has a loyal fan base and some of the most-watched sporting events in the United States. The competitive nature of sports betting makes getting exclusive deals and rights to data, content and logos important.
The three companies gain the right to integrate “relevant sports betting content” into the NFL Media properties including NFL.com and the official NFL App. All three companies will work with the NFL to collaborate on getting NFL content and footage onto their platforms as well.
The NFL’s official data feed will be accessible for Caesars, DraftKings and FanDuel.
Related Link: The NFL Will Own 5% Of Genius Sports After Exclusive SPAC Deal With DMYD
Caesars Entertainment is also the official casino sponsor of the NFL. DraftKings has renewed its exclusive deal with the NFL to be the “official daily fantasy partner” of the league.
DraftKings will collaborate with the NFL on integrations into NFL media properties including the NFL RedZone channel.
FanDuel, which is exploring an IPO, gains access to a relationship with the NFL for the first time. The company is owned by Flutter Entertainment PDYPY, which trades OTC in the U.S. FanDuel will get access to some footage rights from NFL games and work with the league for pre-game opportunities on the NFL Network for seven games set to air in 2021 on the channel.
Price Action: Shares of Caesars Entertainment are up 1% to $94.40 in after-hours trading Thursday. DraftKings shares are up 6% to $60.74 in after-hours trading.
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