SNY, the official television home of all things New York sports announced a partnership today with sports technology and entertainment company DraftKings, bringing a new one-hour programming block of sport betting shows to SNY viewers every Sunday. The Sweat, produced by DraftKings will premiere this Sunday, September 8 at 10:30 AM ET followed by SNY’s original program Place Your Bets Presented by DraftKings Sportsbook at 11:00 AM ET.
“With the legalization of sport betting increasing in states across the country, the compelling integration opportunities have become more prevalent and visible throughout the sports industry,” said Steve Raab, President of SNY. “Sports news impacts sports betting and this partnership with DraftKings marries the two – giving us an opportunity to deliver insightful new programs not just for sports bettors but for casual sports fans, avid sports fans and fantasy players.”
Each week The Sweat, will deliver analysis by DraftKings experts – bringing fans inside the game. Place Your Bets Presented by DraftKings Sportsbook, will not only cover the local New York teams, but also the key matchups from around the league. Place Your Bets will be hosted by SNY’s Maria Marino.
“The legalization of sports betting transformed our business model not only as a sportsbook operator, but also as a digital media hub,” said Ezra Kucharz, chief business officer at DraftKings. “We are entering the most prime period of the sports calendar for our company, and the move to syndicate our original programming via a widely-viewed and premier partner in SNY was a clear strategic decision.”
The two shows will air every Sunday throughout the regular season and the playoffs.
Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) announced today that it has entered into multi-year agreements with leading sports betting operators DraftKings, PointsBet, theScore and The Stars Group for online sports betting and iGaming market access across the Company’s portfolio. Penn Interactive Ventures, LLC (“PIV”), a wholly owned subsidiary of the Company, will manage the relationships, in addition to operating the Company’s primary sports betting and iGaming initiatives through a new partnership with leading service provider Kambi.
According to Jon Kaplowitz, Penn National’s Sr. Vice President of Interactive Gaming: “We’re pleased to be providing the top names in sports betting, iGaming and poker access to our Company’s non-primary licenses to conduct these operations in exchange for a combination of upfront cash and equity, one-time market access fees and ongoing revenue sharing.”
Under the terms of the agreements, each “skin” partner will have the option to own, operate, and brand real-money online sports betting, poker, and casino offerings in each of the states outlined below, pursuant to a first, second or third skin, as applicable, and subject to license availability, state law, and regulatory approvals.
DraftKings:
States Covered: Florida (1st skin), Indiana (3rd skin), Missouri (1st skin), Ohio (1st skin), Pennsylvania (1st skin), Texas (1st skin) and West Virginia (2nd skin)
Term of agreement: 10 years, subject to a ten year extension
Key economic terms: Revenue share to Penn National based on net gaming revenue
PointsBet:
States Covered: Indiana (2nd Skin), Louisiana (1st Skin), Missouri (1st Skin), Ohio (1st Skin) and West Virginia (3rdSkin)
Term of agreement: 20 years
Key economic terms: Revenue share to Penn National based on net gaming revenue
Equity Position: PIV will take a strategic equity stake of 5.28% in PointsBet, with an additional $2.5 million access fee for Ohio, based on certain conditions, payable in cash or equity at Penn National’s option. In addition, PIV will receive 10,372,549 options, exercisable for two years, to acquire additional shares of PointsBet
Key economic terms: Revenue share to Penn National based on net gaming revenue
Equity Position: PIV will take a strategic equity stake of 4.7% in theScore, with the potential for this stake to increase as additional market access fees become payable.
The Stars Group:
States Covered: Illinois (1st skin), Indiana (1st skin), Kansas (2nd skin), New Mexico (2nd Skin), Maine (2nd skin), Massachusetts (2nd Skin), Michigan (2nd Skin), Ohio (1st Skin) and Texas (1st Skin)
Term of agreement: 20 years
Key economic terms: Upfront payment of $12.5 million payable cash, with an additional access fee of $5 million in cash for Texas based on certain conditions; revenue share to Penn National based on net gaming revenue, with a one-time bonus based on net gaming revenue in 2023
“Sports betting represents an exciting new growth opportunity for Penn National,” said Mr. Kaplowitz. “Our skin agreements announced today will help fund the cost of launching and maintaining our primary sports betting and iGaming operations, both by way of the upfront consideration and the long term revenue sharing arrangements, which are consistent with industry standards and subject to minimum guarantees.
“By controlling our front-end product and relying upon our new partnership with Kambi for managed-trading services, we can create a lasting and differentiated online and retail product experience for our customers,” continued Mr. Kaplowitz. “When coupled with our industry leading regional casino footprint and database of over five million active customers, the Company is uniquely positioned to capitalize on the rapidly expanding sports betting and iGaming markets in a way that maximizes value to our shareholders. This strategy is exemplified in our recent iGaming launch in Pennsylvania, where we were the first iGaming operator to take wagers in the state. Additionally, we will be launching our first in-house retail sportsbooks at our Iowa and Indiana properties in the coming weeks,” concluded Mr. Kaplowitz.
DraftKings Inc. announced today the launch of Flash Bet; a faster, easier way for customers who love sports to engage in every minute of action through live betting and instant winnings. Released just in time for Wimbledon, the unique offering is the first of its kind and available only on the DraftKings Sportsbook. This new product feature continues the company’s reputation of being the first to market with new and innovative sports betting technology.
Flash Bet will allow customers to place live, in-game wagers quickly between points in a given match. Once bettors place their wagers via the Flash Bet tab on the mobile or online DraftKings Sportsbook, they will be able to view a timeline of their bet’s results and receive payouts seconds after the play is over. Embedded match graphics will show the ball as it moves across the court in real-time with descriptions of the service, points won and court type. The product is currently exclusive to live tennis wagering as DraftKings remains dedicated to enhancing every moment on the court into an elevated fan experience.
“Live wagering is already widely popular today, but also represents a crucial part of the customer experience and engagement tomorrow,” said Jordan Mendell, Senior Vice President of Product Research and Development. “Short of playing on the court themselves, we are wholly invested in bringing our customers as close as possible to Wimbledon this year, while also giving them a taste of the lightning-quick innovations to come.”
As an industry leader for mobile and online sports betting, DraftKings has applied its prime positioning as a sports technology company to satisfy a growing customer base in excess of 11 million and counting. Flash Bet is another example of the innovative approach DraftKings has taken to develop a world-class product by streamlining the in-game wagering experience and helping usher in an expeditious era of sports betting through mobile technology advances.
The DraftKings Sportsbook app is available to download for both iOS and Android.
For the first time ever, DraftKings will offer its innovative daily fantasy games for the 2019 FIFA Women’s World Cup, making women’s soccer the 13th DFS category for DraftKings, which continues to lead the pack in available sports among fantasy operators.
“All eyes will be on the matches in France, and we are excited to offer soccer fans a more engaging way to enjoy the action,” said Matt Kalish, CRO and co-founder of DraftKings. “The passion of our fans informs our innovation and product roadmap, so for such a special event that only comes along every four years, we wanted to ensure our full complement of offerings would be at their fingertips.”
Fueling the DraftKings Women’s World Cup contests are the company’s data capabilities, which will source match and player information at every moment of play for fans to leverage in their daily fantasy selections. Customers can enjoy DraftKings Classic and Showdown modes for World Cup matches, constructing lineups of six players while staying within a $50,000 salary cap range and designating a “captain” slot that grants one player a bonus multiplier. Classic contests will require selecting players from more than one match, while Showdown contests must include players from each team in a single match.
In addition to the daily fantasy contests available in eight countries around the world – including the U.S., Canada, the U.K. and Australia – fans in New Jersey and Mississippi will be able to legally bet on the Women’s World Cup for the first time via DraftKings Sportsbook, with mobile only available in New Jersey.
To get in the game inside the game during the Women’s World Cup, players can either head to www.draftkings.com or download the DraftKings app via iOS and Android.
