Sunday, August 29, 2021

g-f(2)456 THE BIG PICTURE OF THE DIGITAL AGE (8/29/2021), WSJ, ESPN Explores Sports-Betting Deal Worth at Least $3 Billion

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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Sports-Betting industry (8/29/2021)  g-f(2)426

Opportunity, ESPN Explores Sports-Betting Deal Worth at Least $3 Billion, WSJ
    • Sports-media giant has held talks to license its brand to sportsbooks including Caesars Entertainment and DraftKings.
    • Walt Disney Co. DIS 2.03% ’s ESPN is seeking to license its brand to major sports-betting companies for at least $3 billion over several years, according to people familiar with the matter, aiming to capitalize on the fast-growing online gambling industry.
      Opportunity, Sports-betting is on track to generate revenue of about $4 billion in the U.S. in 2021, WSJ
        • Sports-betting is on track to generate revenue of about $4 billion in the U.S. in 2021, said Chris Grove, a gambling-industry analyst at research firm Eilers & Krejcik Gaming. The industry has grown since a 2018 Supreme Court decision cleared the way for states other than Nevada to legalize sports betting. Now, 32 states and the District of Columbia have legalized wagering on sports.
        Lesson learned, The major players in the online sports-betting industry, WSJ
          • The major players in the online sports-betting industry include DraftKings, FanDuel and BetMGM. There has been a flurry of deals in the industry and investors have been piling into companies with the potential to be major players.
          • Caesars launched a new Caesars Sportsbook betting app this month after completing its acquisition of British sports-betting giant William Hill PLC for $4 billion.
          Lesson learned, ESPN has been the dominant sports-media player for decades, WSJ
            • ESPN has been the dominant sports-media player for decades and a growth engine for Disney, having profited handsomely off the growth of cable television. The erosion of the cable TV market, as consumers cut the cord and switch over to streaming, is pressuring ESPN along with all other major networks. 
            Alert, There is no guarantee ESPN will reach a deal, WSJ
              • It remains to be seen whether gaming companies have an appetite to pay for the ESPN name when they are already investing to establish their existing brands.

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                    The deal is progressing
                      • The sports-media giant has held talks with players that own major sportsbooks, including casino operator Caesars Entertainment Inc. CZR 4.25% and online gambling company DraftKings Inc., DKNG 3.72% the people said. ESPN has existing marketing partnerships with both companies.
                      • On offer is the right for a suitor to use the ESPN name for branding purposes and potentially rename its sportsbook after the leading sports TV network in the U.S., the people said. 

                      Some relevant characteristics of this "genioux fact"

                      • Category 2: The Big Picture of the Digital Age
                      • [genioux fact deduced or extracted from WSJ]
                      • This is a “genioux fact fast solution.”
                      • Tag Opportunities those travelling at high speed on GKPath
                      • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
                      • Type of validity of the "genioux fact". 

                        • Inherited from sources + Supported by the knowledge of one or more experts.


                      ABOUT THE AUTHORS

                      Cara Lombardo

                      Cara Lombardo (@CaraRLombardo) is a reporter covering M&A for The Wall Street Journal in New York. She and her colleagues have broken several of the largest deals including United Technologies' $86 billion merger with Raytheon and AbbVie's $63 billion purchase of Allergan. 

                      Benjamin Mullin

                      Ben (@BenMullin) covers major cable network groups for The Wall Street Journal, including ViacomCBS and Warner Bros. Discovery, as well as cable news and dealmaking across the media sector. 

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