26th of June 2015 Author: Glo Wood
Daily fantasy sports provider DraftKings announced that the $250 million investment from Walt Disney is a no go but the company has managed to score an exclusive three-year advertising deal with ESPN, a Disney subsidiary.
No explanation for Disney backing out of the deal was given but there is industry speculation that it could have something to do with the perception that fantasy sports falls under the category of gambling.
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It's interesting why Disney backs out the deal with Draft Kings, which is one of the top or maybe the top company in the fantasy sports business. My guess is the same like in the article that Disney didn't want their name to be linked in some way with company that operates on the gambling market one way or another. As far as I know in some states in US the fantasy sports is a non gambling business officially so it's quite tricky but obviously from Disney are just too cautious at the moment.
Draft Kings is in the fantasy sports just good as Disney is good in multimedia and showbusiness.It is natural to see companies this successful united with some deal,cause that deal can only bring more profit for both the companies.After this backing of Disney we will have to wait some other time to see this deal done.
This could be interesting to see how will they managed this deal. I wrote few months ago that this kind of games are gaining popularity but I didn't expected to see that Disney is coming in this sphere. Although that huge money is around I am not sure how they will managed success because they have no experience in this kind of deals
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