The famed children’s brand Walt Disney is getting into the sports betting business according to chief executive Bob Chapek. In a conference call with investors this week the boss of Disney said the company plans to get “aggressive” in regard to expanding the business in sports betting.
Disney is looking at working with a recognised sports betting company in a licensing agreement possibly using its ESPN broadcasting arm, indeed ESPN and ABC broadcast sports betting during their live broadcasts already for other companies so why not get involved directly.
With Disney holding the rights to broadcast NFL, MLB, NBA, NHL, Wimbledon, PGA Tour, and LaLiga with its ESPN and ABC channels it would make a whole lot of sense to maximise their business with sports betting.
Chapek said in the conference call to investors on the subject: “There’s a long way between embedded into the ESPN business model and licensing out,” he said. “Let’s just say that our fans are really interested in sports betting. Let’s say that our partners — with the leagues — are interested in sports betting. So we’re interested in sports betting.”
For a long time Disney fought against gambling indeed it still does in states like Florida but it seems you can’t beat sports betting and so if you cannot beat them join them. With its ready to go TV sports coverage and some 174 million global subscribers of which ESPN has nearly 15 million the only question is who will be the lucky partner.
It’s rumoured that Disney would look at a multiyear deal ranging in the return of $3 billion from any partner they take on, only recently Sports Illustrated formed a partnership with 888 Holdings US arm that sees the gambling firm use the branding of Sports Illustrated to promote sports betting. That deal saw Authentic Branding the parent company of Sports Illustrated take a 4.9% stake in the US gambling Company.
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