{"id":225903,"date":"2022-08-10T20:14:10","date_gmt":"2022-08-11T01:14:10","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=225903"},"modified":"2022-08-11T11:31:08","modified_gmt":"2022-08-11T16:31:08","slug":"chapek-acknowledges-disney-sports-betting-plans","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/","title":{"rendered":"Disney CEO Chapek Says Sports Betting Announcement in the Works"},"content":{"rendered":"<p>One of the most burning questions in the sports wagering industry is when Walt Disney (NYSE:DIS) will make its long-awaited arrival in the space. Today, CEO Bob Chapek shed some light on the topic, but didn\u2019t reveal a hard and fast time line.<\/p>\n<figure id=\"attachment_225904\" aria-describedby=\"caption-attachment-225904\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-225904\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/BCD-142x95.jpg\" alt=\"Disney sports betting\" width=\"1200\" height=\"800\" \/><figcaption  id=\"caption-attachment-225904\"class=\"text-description\">Disney CEO Bob Chapek, seen above. He discussed sports betting plans on a conference call today. (Image: <em>CNBC<\/em>)<\/figcaption><\/figure>\n<p>On the company\u2019s fiscal third-quarter earnings conference with analysts, Chapek touched on sports betting in response to a question from Bank of America analyst Jessica Reif Ehrlich.<\/p>\n<blockquote class=\"main-blockquote\"><p>Well, in terms of sports betting we have been in conversations for quite a long time now with a number of different platforms to add some utility to sports betting and take away some friction for that for our guests,\u201d said Chapek on the call.<\/p><\/blockquote>\n<p>California-based Disney is the parent company of <em>ESPN &#8212;<\/em>\u00a0a status that makes the entertainment and media conglomerate a frequent <a href=\"https:\/\/www.casino.org\/news\/espn-sportsbook-could-lead-to-possible-buy-of-rsi-or-pointsbet\/\">epicenter of sports betting rumors<\/a>.<\/p>\n<h2>ESPN Synergy Drives Disney Betting Allure<\/h2>\n<p><em>ESPN <\/em>is the dominant US sports broadcaster, providing viewers with access to heavily wagered on sports, including college basketball and football, the NFL and the NBA, among others.<\/p>\n<div class=\"callout\">\n<p><em>ESPN<\/em> has <a href=\"https:\/\/www.casino.org\/news\/caesars-draftkings-reach-landmark-deals-with-espn-sportsbook-ads-to-run-on-app-website\/\">separate, multi-year accords<\/a> with Caesars Entertainment (NASDAQ:CZR) and DraftKings (NASDAQ:DKNG). Additionally, the network broadcasts some wagering-related shows. But analysts and investors widely expect Disney will ultimately leverage the sports network\u2019s brand in a more significant fashion in the sports wagering industry.<\/p>\n<\/div>\n<p>\u201cWe have found that basically our sports fans that are under 30 absolutely require this type of utility in the overall portfolio of what ESPN offers. So we think it&#8217;s important,\u201d addead Chapek on the call. \u201cWe&#8217;re working hard on it, and we hope to have something to announce in the future in terms of a partnership there that will allow us to access that revenue stream.\u201d<\/p>\n<p>By way of <em>ESPN+, ESPN<\/em> also brings a coveted <a href=\"https:\/\/www.casino.org\/news\/sinclair-broadcast-nearing-debut-of-bally-sports-streaming-plan\/\">streaming platform<\/a> to the sports betting table. Including the sports streaming service, Disney added 15.5 million streaming customers in the most recently completed quarter, bumping its total to 221 million subscribers across its related portfolio, including Disney+<\/p>\n<h2>Disney Sports Betting Rumors<\/h2>\n<p>As noted above, Disney has long been a hotbed of sports betting rumors, mainly centering around potential acquisitions. That speculation previously included Rush Street Interactive (NYSE:RSI) and Australia\u2019s PointsBet. But no deal was struck, and Chapek didn\u2019t mention those companies on the call.<\/p>\n<p>Disney <a href=\"https:\/\/www.casino.org\/news\/walt-disney-owns-six-percent-of-draftkings-in-passive-fashion\/\">owns about 6%\u00a0<\/a> of DraftKings equity, which it inherited when it acquired 21<sup>st<\/sup> Century Fox for $71.3 billion in 2019. However, DraftKings makes for an unlikely takeover target because cofounder and CEO Jason Robins owns about 93% of the operator\u2019s voting equity.<\/p>\n<p><strong>Disney has more than $13 billion in cash and cash equivalents, indicating it can easily digest any number of sportsbook operators, should it choose to use a takeover to cement its presence in the space.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the most burning questions in the sports wagering industry is when Walt Disney (NYSE:DIS) will make its long-awaited arrival in the space. Today, CEO Bob Chapek shed some light on the topic, but didn\u2019t reveal a hard and fast time line. On the company\u2019s fiscal third-quarter earnings conference with analysts, Chapek touched on [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":225904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1074,16693],"tags":[81967,80968,82041],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chapek Acknowledges Disney Sports Betting Plans<\/title>\n<meta name=\"description\" content=\"Disney could soon make sports betting announcement, says CEO Chapek.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chapek Acknowledges Disney Sports Betting Plans\" \/>\n<meta property=\"og:description\" content=\"Disney could soon make sports betting announcement, says CEO Chapek.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-11T01:14:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-11T16:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/BCD-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/\",\"url\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/\",\"name\":\"Chapek Acknowledges Disney Sports Betting Plans\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/BCD-scaled.jpg\",\"datePublished\":\"2022-08-11T01:14:10+00:00\",\"dateModified\":\"2022-08-11T16:31:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Disney could soon make sports betting announcement, says CEO Chapek.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/chapek-acknowledges-disney-sports-betting-plans\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/BCD-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/BCD-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Disney CEO Bob Chapek. He discussed sports betting plans on a conference call today. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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He discussed sports betting plans on a conference call today. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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