![]() ![]() Big picture, this is likely the first step for Disney to reposition ESPN through new partnerships and even a potential new strategic equity partner that might help ESPN with distribution and content as well as capital to de-risk the asset for the company. The PENN/ESPN partnership also raises the question of whether Disney will hold on to its stake of less than 5% in DraftKings or look to unwind its position. This is a great way to learn about slot strategy. Furthermore, it is possible ESPN could have required DraftKings to drop its own brand in favor of ESPN branding, which would have clearly presented its own hurdles.” There are some fabulous casino gamers who stream their slots action online for free. ![]() But MoffettNathanson believes that “given DraftKings already had a non-exclusive partnership with ESPN, it isn’t clear to us that the $150 million annual payments at this point would generate the necessary ROI to commit to a new deal. 'With these exciting Penn properties joining Choice and our Ascend Hotel Collection network, we will be able to provide guests even more upscale travel experiences and a wider variety of fun and entertainment on the road,' said Robert McDowell, chief commercial officer, Choice Hotels. PENN will now look to leverage ESPN’s leading sports platform as a much more efficient top-of-funnel approach to convert new users to its platform, especially with ESPN Fantasy players. ![]()
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