Bob Iger's and Disney's $1.5 Billion Bet on Sports Gambling

By Travis Hoium – Aug 14, 2023 at 4:30PM

NYSE: DIS

Walt Disney

Market Cap

$189B

Today's Change

(0.01%) $0.01

Current Price

$103.02

Price as of May 22, 2024, 4:00 p.m. ET

ESPN's sports betting deal could give it enough fuel to grow in sports content.

It was a surprise last week to learn that Disney (DIS 0.01%) is partnering with Penn Entertainment (PENN -2.25%) to promote online sports betting. But the deal looks like a big win for ESPN, as Travis Hoium covers in this video.

*Stock prices used were end-of-day prices of Aug. 10, 2023. The video was published on Aug. 13, 2023.

Travis Hoium has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool recommends the following options: long January 2025 $25 calls on Penn Entertainment and short January 2025 $30 calls on Penn Entertainment. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.