Stool exerciseunder the leadership of the founder Dave PortnoyNegotiations are said to be advanced All-in-one sports betting deal with Kings Project.
Unlike previous endeavors, this upcoming deal is expected to take the form A Traditional marketing partnership. Barstool You will play a pivotal role in promotion Kings Project Odds, and leverages its broad reach to refer customers to popular sports betting, according to Sportico.
Discussions, which are shrouded in secrecy due to the private nature of the details, are said to be taking place around it Multi-year contract Barstool can be seen in the pocket A large annual amount In the low eight figures.
However, no deal can be signed before the Super Bowl, as Barstool faces a lock-up period stemming from its recent split from Penn Entertainment. The terms of the separation, which included Penn selling Barstool back to Portnoy for just $1, Restrictions on the return of Barstool In the betting arena until the end of the current NFL season and the playoffs.
Representatives for DraftKings, Barstool and Pen have not yet officially commented on the ongoing negotiations.
The upcoming alliance is poised to radically change the sports betting landscape
Barstool Trip Getting into the world of betting is a return to its roots, where the company originated in 2003 as a betting and fantasy publication distributed by Portnoy. Although its gambling tips and picks remain an integral part of Barstool’s content, the absence of an official betting sponsor has left the company without a stake in the booming sports betting market.
Kings Projecta giant company in the online sports betting industry, has been keen to establish strategic partnerships with Media companies To enhance its brand recognition and attract a broader customer base. The company’s notable moves include the acquisition of Vegas Stats & Information Network (VSiN) and partnerships with prominent sports podcasts.
this Possible collaboration between Barstool and DraftKings It follows Barstool’s turbulent relationship with Penn Entertainment, which initially took a large stake in Barstool for $163 million in 2020 and eventually offloaded the media company back to Portnoy for $1 after a failed attempt to create a sustainable betting app.
Portnoy explained That Ben had difficulties taking full advantage of the trademark due to compliance-related obstacles. Among these challenges, Portnoy highlighted issues with gambling regulators, major media companies, and stock market volatility affecting both Penn and Barstool Sports. The pending deal between Barstool and DraftKings is creating waves in the market, with DraftKings stock has risen to all-time highs Since late 2021. Investors have been watching this space closely, anticipating a breakthrough that could reshape the dynamics of the sports betting industry.