Growing its presence in the world of punches and grappling moves in a major way, a sports betting and fantastic sports company DraftKings (NASDAQ: DKNG) launches a partnership with the UFC MMA organization. Fans of combat sports will soon be able to place bets on UFC fights if they live in states where sports betting is legal. DraftKings also offers fantastic sports services everywhere.
An inside source speaking to ESPN said DraftKings was paying generously to secure its alliance with the UFC, spending cash in the “nine low figures” of at least $ 100 million. The same source also said that the entire partnership, if the marketing is added to the payment from DraftKings to the MMA organization, is valued at around $ 350 million.
A newly launched timing system dubbed “UFC FightClock” and described as “state of the art” will also be presented by DraftKings. The on-screen clock will display a countdown for each round of mixed martial arts. The FightClock will first appear this weekend, March 6, at UFC 259, a fight between MMA champion Jan Blachowicz and Israel Adesanya in Las Vegas. Other “brand integrations” will follow the FightClock.
DraftKings CEO Jason Robins noted that combat sports “have expanded significantly in both our sports betting and the daily fantasy industries,” identifying MMA as “a high-demand category that, in our opinion, will only grow more “.
However, while the company is aggressively pushing its sports betting and expansion into fantasy sports, investors aren’t necessarily happy with its steady string of deals. DraftKings stock fell 4% yesterday after announcing a partnership with DISH Network, apparently because a clunky interface always requires betting to be made through a mobile app. Today’s deal also appears to be falling flat, with DraftKings shares falling more than 8% by early afternoon.
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