DraftKings Steps Into The Ring With WWE

One of the leading online sports betting companies is continuing to add to its list of sports league deals with an announcement Monday.

What Happened: DraftKings Inc (NASDAQ: DKNG) and World Wrestling Entertainment Inc (NYSE: WWE) entered into an agreement to make the sports betting company the official gaming partner of the WWE.

The deal centers on the free-to-play offerings from DraftKings. A free-to-play game will be launched to coincide with the upcoming two-night WrestleMania being held April 10-11.

DraftKings will have an exclusive license to media assets and in-game branding to WWE pay-per-view events.

Related Link: What Did Analysts Think Of DraftKings’ Investor Day Presentation?

Why It’s Important: The upcoming WrestleMania in Tampa Bay will be aired exclusively on the Comcast Corp (NASDAQ: CMCSA) streaming service Peacock in the U.S. This could bring extra viewers to the pro wrestling event that don’t have access to the WWE network.

DraftKings signed a similar deal with the UFC earlier this month, giving it exclusive access to the league as an official partner.

DraftKings now has deals in place as an official daily fantasy sports partner, authorized gaming operator and free-to-play games partner with several of the top professional sports leagues.

The free-to-play and daily fantasy games have offered a great way for DraftKings to gain potential customers in territories before sports betting is legalized.

WWE says it has access to 900 million homes worldwide.

Price Action: Shares of DraftKings are down 4% to $60.96 at publication time. WWE shares are about flat at $54.96.

Photo credit: Miguel Discart, Flickr