EXCLUSIVE: DraftKings Partnership With Barstool Sports 'Getting The Band Together,' CEO Says — How New Deal, Jackpocket Acquisition Can Power Growth
Portfolio Pulse from Chris Katje
DraftKings Inc (NASDAQ:DKNG) announced its Q4 financial results, increased 2024 guidance, and revealed a partnership with Barstool Sports following its re-acquisition by founder Dave Portnoy from PENN Entertainment (NASDAQ:PENN). This partnership, along with a new deal with LeBron James and the acquisition of Jackpocket, is poised to boost DraftKings' growth. The Jackpocket acquisition, expected to close in the second half of 2024, is anticipated to diversify DraftKings' portfolio and enhance customer acquisition, with significant revenue and EBITDA impact projected for 2026.
February 21, 2024 | 3:51 pm
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POSITIVE IMPACT
DraftKings' strategic moves, including the Barstool Sports partnership and Jackpocket acquisition, are expected to significantly boost customer acquisition and diversify its portfolio, with a positive revenue and EBITDA impact anticipated for 2026.
The partnership with Barstool Sports and the acquisition of Jackpocket are strategic moves aimed at enhancing DraftKings' market position by boosting customer acquisition and diversifying its portfolio. The positive anticipation for revenue and EBITDA impact by 2026 further underscores the significance of these developments for DraftKings.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
PENN Entertainment's recent licensing deal with The Walt Disney Company and the re-acquisition of Barstool Sports by its founder may have implications for its strategic positioning and partnerships in the sports betting landscape.
While the article focuses on DraftKings, PENN Entertainment's involvement through its licensing deal with Disney and the re-acquisition of Barstool Sports by its founder suggests potential strategic shifts. However, the direct impact on PENN's stock in the short term is less clear, warranting a neutral score.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60