Jim Cramer Says Disney Stock A Bargain After PENN Deal: 'Bet Against Disney And Send Me An Invitation To Your Funeral'
Portfolio Pulse from Shanthi Rexaline
Walt Disney Co. (NYSE:DIS) has partnered with PENN Entertainment, Inc. (NASDAQ:PENN) to launch ESPN Bet in 2023. CNBC's Jim Cramer praised the move, suggesting it could create a new revenue stream for Disney. Despite Disney's stock underperforming in 2023, Cramer believes the deal could make it a bargain. PENN will pay Disney $1.5 billion over 10 years for exclusive rights to the ESPN trademark in the U.S., and Disney will receive $500 million worth of warrants to purchase PENN common stock.
August 09, 2023 | 11:36 am
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POSITIVE IMPACT
Disney's partnership with PENN could create a new revenue stream, potentially boosting its stock.
The partnership with PENN could provide Disney with a new revenue stream, which could help boost its stock. Additionally, the deal could help Disney mitigate weakness in its traditional TV business.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PENN's partnership with Disney could boost its stock as it gains exclusive rights to the ESPN trademark in the U.S.
The partnership with Disney could boost PENN's stock as it gains exclusive rights to the ESPN trademark in the U.S. This could potentially increase PENN's visibility and customer base.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100