Barstool Sports is in advanced talks on a wide-ranging sports betting deal with DraftKings (DKNG), multiple people familiar with the negotiations told Sportico’s Eben Novy-Williams. Barstool won’t be lending its name to a sportsbook or betting app and the deal will be “a more traditional marketing partnership,” with Barstool promoting DraftKings odds and benefiting from customers referred to the sportsbook, the report said. Barstool is unable to finalize a betting deal until after the Super Bowl, because of a lock-up as part of its recent separation from Penn Entertainment (PENN), the sources added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DKNG:
- Samuel Adams, DraftKings partner for fan prediction pool
- Bet On It: Flutter reports Q4 trading update ahead of U.S. listing
- IBM upgraded, Hertz downgraded: Wall Street’s top analyst calls
- DraftKings upgraded to Buy from Hold at Stifel
- DraftKings downgraded to Underperform from Neutral at Exane BNP Paribas