FanDuel inches closer to naming rights deal with Diamond Sports Group
An agreement would allow FanDuel access to branding on 18 networks.
Sports betting operator FanDuel has come close to reaching an agreement with Diamond Sports Group involving branding rights, according to a recent Bloomberg report.
Diamond Sports Group currently owns 18 regional pay-TV networks. The pending agreement could allow FanDuel to have naming rights on these networks.
Sources close to the deal also noted that the multi-year deal “would also involve FanDuel-related programming for the channels.”
At this time, terms for the agreement are still being finalized, the report said.
In other company news, the Office of Lottery and Gaming (OLG) recently named FanDuel as Intralot’s new sports wagering subcontractor. Per the terms of the deal, FanDuel launched its sports wagering app to players in Washington DC.
Players will also have access to FanDuel’s website and retail platforms.
Both FanDuel and the OLG anticipate that this collaboration “will bring immediate financial benefit” to the DC area. As part of the agreement, Intralot will pay an initial $5m fee during the 2024 fiscal year.
Intralot will take on OLG’s current sports wagering operating costs as part of the deal as well. The OLG said this can “provide additional savings to help increase the revenue from sports wagering that will go to the District’s general fund, allowing the District to fund critical programs.”
Flutter is the parent company of FanDuel Group, which has a significant presence throughout the US. The Irish-founded company recently appointed Rob Coldrake to his current Group CFO role.
Prior to his appointment, Coldrake served as the Flutter International CFO. He joined the company in 2020.
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