Caesars Entertainment (CZR) – Get Report shares rose Monday after the country’s biggest casino-entertainment company unveiled a sports-betting partnership with Walt Disney’s (DIS) – Get Report sports platform, ESPN.
The deal includes link integrations from ESPN's digital platforms to sports books from Caesars Entertainment's sports-betting partner, William Hill.
Link integrations to William Hill's sports betting apps, geo-targeted to legalized sports-betting states, will appear on ESPN.com web and mobile web and the ESPN Fantasy app, Caesars said in a statement.
Caesars Sportsbook by William Hill will also become a sponsor of ESPN's Fantasy products, extending an existing relationship as ESPN's exclusive odds provider.
Caesars Entertainment shares recently traded at $53.98, up 7.7%. The stock has fallen 9% in 2020 to date. Walt Disney traded at $131.96, up 0.2%. The Burbank, Calif., entertainment giant's stock also has dipped 9% year to date.
"ESPN is one of the preeminent brands in sports,” said Ulrik Bengtsson, group chief executive at William Hill. “Tens of millions of fans will now have a direct link to our sports betting apps and odds."
From ESPN’s standpoint, "with Caesars utilizing odds from William Hill's sports betting data, we are able to deliver content in new and innovative ways," said Mike Morrison, ESPN’s vice president of business development and innovation.
The Boston sports-betting company DraftKings (DKNG) – Get Report on Monday also inked a content and marketing agreement with ESPN.
DraftKings said the deal allows it to integrate its products across ESPN's digital platforms, while also giving it the chance to provide content to the network's studio-produced sports programs.
Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron’s, Institutional Investor, The Washington Post and other publications.