Disney Deal With Online Fantasy Sports Firm DraftKings Fizzles

Published Wednesday, June 24, 2015 - Online-Casinos.com
Disney Deal With Online Fantasy Sports Firm DraftKings Fizzles

When it comes to making a good thing great the fantasy sports industry in the USA takes the cake. One firm in particular daily fantasy sports betting web site DraftKings is making all the right moves with perfect timing in a lucrative space on the internet. DraftKings which has this month applied for a gambling licence in the United Kingdom with its sights set on global expansion.

DraftKings however did hit a recent snag in its efforts to raise capital for the expansion with the news that  media group Walt Disney Co or its ESPN subsidiary will not be investing an estimated $250 million (€223.7 million) in the company. It has been suggested that DraftKings is now seeking investment from other sources. However it was reported that DraftKings did receive the exclusive right to advertise fantasy sports on sports network ESPN’s properties starting in 2016. Should the Disney deal have come to fruition the company would have been valued at about $900 million.

Recently DraftKings raised $41 million in a round of investment hunting led by the Raine Group, and has enticed a total of $75 million in funding since 2012. Jason Robins, Chief Executive Officer of DraftKings, denied reports that the company was going to launch an Initial Public Offering. Robins commented, “Right now we are looking at a lot of different options, but that (an IPO) is probably the last thing on our mind,” Robins continued, “We’re just trying to build a great business and engage sports fans.”

Draftkings appeals to every budget with the variety of buy ins. There are games for as low as 25 cents and the site offers high roller games as well. It has been suggested that Draftkings has the most qualifiers available for all their big games giving the player the best chance to gain entries. There are times when there are a lot of qualifiers that have overlay making the chances that much better to win one.

 

 

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