DraftKings (DKNG) is teaming up with Dish Networks (DISH) to bring its sportsbook and daily fantasy experiences directly to Dish customers. DKNG and DISH stocks rose.
DraftKings will integrate its app with the Dish TV Hopper platform. The agreement also allows for DraftKings sportsbook and daily fantasy experiences with DISH Network’s Sling TV and Boost Mobile in the future.
“We’re thrilled to work with DraftKings to amplify the sports-fan experience, and extend the DraftKings footprint across our unique suite of services, including SLING TV and Boost Mobile, with potential applications across our 5G wireless buildout in the future,” said Dish TV group president Brian Neylon in a statement.
Shares rose 1.3% to 69.46 on the stock market today, after hitting a record 72.16 intraday. DKNG stock broke out past a 64.88 buy point last week, according to MarketSmith chart analysis. DraftKings broke out following earnings, highlighted by strong revenue and guidance.
DraftKings, an IBD Leaderboard stock, has an RS Rating of 92 and an EPS Rating of 87. Its relative strength line is trending upward toward record highs,
Dish Networks stock rose 1.8% to 33.68. Shares have been in a long consolidation with a buy point of 37.99.
DraftKings Focus On Partnerships
DraftKings, which has benefited from wider legalization of sports gambling, has patterned with other media companies, such as Disney (DIS)-owned ESPN, as well as professional sports leagues and celebrities. It leverages these partnerships to grow its customer base at lower costs.
Once launched, Dish TV customers can initiate bets for NCAA basketball, NBA and NHL from the app via Hopper, with additional features to come.
“Our deal with DISH TV and the technology behind it immerses customers within a next-generation viewership experience and reaches these fan bases in a completely new way,” said Paul Liberman, president of product and technology and co-founder at DraftKings.
The integrated DraftKings experience is available to all Hopper customers. But it excludes customers in regulated sports betting states where Dish gaming approvals are still pending. They include West Virginia, Michigan, Tennessee, Pennsylvania and New Jersey. Also, placing bets is limited to customers living in states where sports betting is available to DraftKings account holders.
Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.
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