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ESPN reaches hundreds of millions of sports fans, a critical demographic for DraftKings' services.
DraftKings' (DKNG 4.96%) stock price increased after it was reported to have scored a deal with The Walt Disney Company's (DIS -0.04%) ESPN network. The sports-centric brand could do wonders to expand DraftKings' reach among fans in the U.S. This video highlights what each stands to gain from this agreement.
Stock prices used were the afternoon prices of Oct. 8, 2022. The video was published on Oct. 10, 2022.
Parkev Tatevosian has positions in Walt Disney and has the following options: long January 2024 $105 calls on Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
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