DraftKings Reveals Chicago Cubs Alliance After Michael Jordan Deal

DraftKings announced an exclusive partnership with the Chicago Cubs on Thursday, a day after the fantasy sports company and bookie broadened the alliance with another Windy City icon, Michael Jordan.

Under the deal, DraftKings will partner the Cubs’ official daily fantasy and sports betting. According to the press release, the company will try to establish “the first sportsbook of its kind” in the 106-year-old Cubs at Wrigley Field. To do this requires approval by the city of Chicago.

In an interview on CNBC’s “Squeak on the Street”, DraftKings co-founder Matt Kalisch said the company hopes to work with Illinois regulators and local officials to “Wrigley sportsbook” into the market as soon as possible To market.

DraftKings said it has eight retail sportsbooks in the US, including one in East St. Louis, Illinois.

“We are really excited about the marketing aspect of the deal. You know, the Cubs are a storied franchise that is beloved across the country and especially in Illinois, one of the largest, most important sports-betting markets The country, “said Kalish, president of DishKings’ North American operations.

DraftKings announced a partnership with several NBA teams earlier this year. The tie-up with the Cubs is the latest example of how gambling is becoming more prevalent with professional sports, as legitimizing American sports betting. According to the American Gaming Association, as of mid-August 22, the District of Columbia, Plus has legalized it.

Shares of DraftKings were down 4% on Thursday at around $ 38. The stockback 8% paused Wednesday on the news that Jordan, one of the most prominent sports figures ever, would become a special advisor to DraftKings’ board of directors.

“Who wants Michael Jordan around the Major advising you on strategy, talking with the board, helping with the initiative in our company. He clearly has all of the marketing talent branding the talent.” Topped the list., “Kalish said.” We’re just getting started, but I think it’s a tremendous, additive piece to the overall success of DraftKings over the next several years. ”

Although Jordan’s role as president and owner of the NBA’s Charlotte Hornets may ban him in some areas, Kalisch said DraftKings wants to lean more and more on basketball veterans.

“In every way that we can possibly work with Michael, in every aspect, we’re going to do that,” he said.

DraftKings shares are up over 250% this year.


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