ESPN Explores Sports-Betting Deal Worth at Least $3 Billion

By Brad Pareso 

Walt Disney Co.’s ESPN is seeking to license its brand to major sports-betting companies for at least $3 billion over several years, according to people familiar with the matter, aiming to capitalize on the fast-growing online gambling industry. (WSJ)

The network has held talks with players that own major sportsbooks, including casino operator Caesars Entertainment and online gambling titan DraftKings, the Journal reported. ESPN currently has marketing partnerships with both firms. (NY Post)

The network has cautiously waded into the burgeoning sports gambling space, which had for years existed solely in Nevada. A 2018 Supreme Court decision paved the way for more states to legalize sports gambling, which led to more casinos and sportsbooks partnering with leagues, teams and even stadiums. (TheWrap)

As more states legalize sports betting, media companies have turned to the sector to diversify their revenue. Fox Corp launched the Fox Bet sports betting platform in 2019 through a partnership with The Stars Group. (Reuters)