DraftKings announced today that they’ve agreed to a six-year operation partnership with New Hampshire legislators. This means that the company will continue operating until 2026. However, that isn’t the biggest news story that happened this week for DraftKings. This betting company confirmed that they’d renewed their partnership with Madison Square Garden, allowing for DraftKings to continue as the head sports betting partner for the New York Rangers and Knicks. Subsequently, DraftKings remains the exclusive daily fantasy sports sponsor for the Madison Square Garden Company, which includes a partnership with the Westchester Knicks.
This extended agreement allows for DraftKings to have increased brand integration with the Madison Square Garden. This includes their digital players, out-of-home signage, and in-game promotions. Broadcast networks going forward will have to display the DraftKings logo during New York Knicks and Rangers matchups. When asked to comment about these developers, the chief business officer with DraftKings stated that they are incredibly proud to remain on as the DFS Partner with MSG. He noted that this is the most famous arena worldwide and maintains some of the world’s most exceptional sporting franchises.
Madison Square Garden has been a destination that’s known for its immersive engagement with the community and unforgettable sporting moments. DraftKings expressed that their entertainment goals complement their ideals, allowing for like-minded companies to create a formidable partnership.
DraftKings Opens in New Hampshire
When it applies to their announcement that they’ve agreed to operate in New Hampshire, most analysts weren’t shocked. It’s anticipated that throughout its first fiscal year, DraftKings will earn upwards of $7.5m. That never is expected to grow to 13.5m by 2023 and $20.5m by 2026. The first individual that placed a wager with DraftKings was the Governor of New Hampshire when he bet that the New England Patriots will win this year Superbowl. With the addition of New Hampshire, DraftKings now maintains operations in ten respective states across America.
The Co-Founder and Chief Executive Officer of DraftKings, Matt Kalish, spoke on the partnership with New Hampshire legislators. He expressed that as a company based in New England, DraftKings is excited to launch its sports betting products before the beginning of the National Football League playoffs. He also mentioned that this finishes what was their busiest month to date, with them first purchasing SBTech with the assistance of the Diamond Eagle Acquisition Corporation. Collectively, these two companies spent $3.3 billion to acquire SBTech.
