By The Weekly Edge desk ·
Kenneth Dart has acquired 5.8% of DraftKings through his investment group Candle Lake, CasinoBeats reported. Dart also holds almost 30% of Flutter, which owns FanDuel.
Dart’s DraftKings investment adds to his gambling holdings alongside an almost 30% stake in FanDuel owner Flutter.
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The agreements give three sportsbook operators NFL marketing rights and official data access while requiring cooperation on betting integrity and responsible gambling.
DraftKings and FanDuel retain NFL sponsorship agreements following renewals two weeks before the season’s opening.
The NFL renewed multi-year DraftKings and FanDuel partnerships and appointed Fanatics Betting and Gaming as an official betting partner.
Fanatics gains official NFL sportsbook partner status, filling a category vacant since the league’s previous agreements expired.
DraftKings and Flutter share declines reflect investor concerns over weaker earnings, promotional spending and prediction market competition.
Fanatics’ potential $1bn advertising spend would support its effort to challenge DraftKings and FanDuel in US sports betting.