Please ensure Javascript is enabled for purposes of website accessibility

DraftKings Announces Partnership With the Chicago Cubs

By Howard Smith – Updated Sep 4, 2020 at 2:43PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The news comes a day after it announced an alliance with Chicago sports legend Michael Jordan.

Major League Baseball's Chicago Cubs and DraftKings (DKNG 3.30%) have joined forces to make DraftKings the club's official sports betting and daily fantasy partner.

The multiyear deal, announced Thursday, includes plans to open a sportsbook inside 106-year-old Wrigley Field. Online access will also be available in neighboring Wrigleyville, where fans routinely gather for games. The retail sportsbook still needs approval by the City of Chicago, even with sports betting now legal in Illinois. 

baseball player making contact with bat on ball

Image source: Getty Images.

DraftKings isn't the first to open a retail sportsbook in a major league sports stadium. MGM Resorts International (MGM -1.92%) recently announced its mobile betting app BetMGM is partnering with the National Football League's Denver Broncos to open a sportsbook lounge in the team's Empower Field at Mile High.

The Wrigley Field location will be DraftKing's second sportsbook in the state. In early August, it announced a new sportsbook in the Casino Queen in East St. Louis. The company currently operates retail locations in seven states. It also announced yesterday that it will be opening a second sportsbook in New Hampshire with DraftKings Sportsbook at Manchester, in South Side Tavern's sports bar.

The Cubs' president of business operations, Crane Kenney, said in a statement that DraftKings has been a partner of the team for a number of years.

DraftKings announced another partnership with a Chicago sports icon earlier this week when it added Michael Jordan as a special advisor in exchange for an equity interest in the company. 

Howard Smith owns shares of MGM Resorts International. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

DraftKings Inc. Stock Quote
DraftKings Inc.
$16.57 (3.30%) $0.53
MGM Resorts International Stock Quote
MGM Resorts International
$32.68 (-1.92%) $0.64

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/07/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.