- DraftKings shares gained 5% on Friday after the company announced an official sports-betting partnership with the NFL.
- The multi-year agreement gives DraftKings marketing rights on NFL media properties.
- Caesars Entertainment and FanDuel were also named as official NFL sports-betting partners.
DraftKings shares bounced higher early Friday after the company reached a deal to become an official sports betting partner with the National Football League.
Financial terms of the multi-year agreement were not disclosed in statements released late Thursday. The partnership grants DraftKings the right to integrate sports betting content directly into the NFL.com site and the NFL app and other media properties. It also extends DraftKings standing as the NFL's official Daily Fantasy football partner to promote fantasy sports contests.
Shares of DraftKings rose as much as 5% to %60.45 in early trading. The stock has gained about 23% this year.
The deal will also allow Boston-based DraftKings to use the NFL's data feed and game footage and engage with fans through free-to-play games.
"We share the same vision as the NFL on fan engagement and believe this agreement will lead to new innovations that will ultimately enhance both the product on the field and on the screen," said Jason Robins, CEO and co-founder of DraftKings, in a statement.
Caesars Entertainment and privately held FanDuel also reached deals with the NFL to become official sports betting partners. Caesars will continue to act as the league's casino sponsor, retaining rights to use NFL trademarks in marketing including promotion of the 2022 Pro Bowl and the 2022 NFL draft in Las Vegas.
Shares of Caesars rose 0.4% ahead of the opening bell and the stock has advanced 25% during 2021.
