DraftKings inks exclusive deal with New York Giants
Shares gained more than 4% early Wednesday
DraftKings Inc. and the New York Giants announced an exclusive deal that makes the sports gambling app the official sports betting, iGaming and daily fantasy operator of the team.
Shares of the Boston-based sports gambling app rallied more than 4% ahead of the opening bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS INC. | 40.85 | -0.34 | -0.84% |
“DraftKings is the preeminent leader in sports betting and daily fantasy sports and we are excited to be the first NFL team to have an exclusive integrated deal in this category,” Pete Guelli, chief commercial officer of the Giants, said in a statement.
The deal, which grants DraftKings the ability to use official Giants marks and logos and to open a virtual SportsLounge on Giants’ game days, is the latest in a number of agreements the betting platform has made in recent weeks.
On Monday, DraftKings and ESPN announced a multi-year partnership that makes the sports media giant a co-exclusive link-out provider and exclusive daily sports fantasy provider. DraftKings will integrate its products across ESPN’s digital platforms and power the network’s shows.
Earlier this month, DraftKings announced an exclusive deal with the Chicago Cubs and named Michael Jordan a special adviser to the board of directors. Jordan, who took a stake in the company, will provide “strategic and creative input” on strategy, product development and other initiatives.
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DraftKings shares have gained 149% since the company went public on April 24, outperforming the S&P 500’s 5.27% gain.