DraftKings stock gains after exclusive deal with Turner Sports, Bleacher Report

/ / News

Shares of DraftKings Inc. rose 0.8% in premarket trading Thursday, after the digital sports entertainment and gaming company announced a multiyear agreement with Turner Sports to be the exclusive sportsbook and daily fantasy sports provider, excluding NBA programming. As part of the agreement, DraftKings will provide sports betting information and fantasy content across Turner Sports telecasts and Bleacher Report digital channels. Turner Sports is a division of AT&T Inc.’s WarnerMedia. “While this emerging industry continues to evolve, sports betting helps to drive engagement, increased time spent viewing and audience scale,” said Will Funk, executive vice president of sports partnerships and branded content at Turner Sports. DraftKings’ stock has rocketed 344.5% year to date through Wednesday, while the S&P 500 has gained 8.0%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.