DraftKings and Sports & Social Enter Into Strategic Sports Betting and Entertainment Agreement
DraftKings has partnered with Sports & Social to create an upscale sports bar experience in Nashville and Detroit, pending regulatory approvals. This collaboration aims to combine Sports & Social's expertise in high-energy dining and entertainment with DraftKings' top-tier sports gaming platforms. The venues will offer an interactive, engaging experience for fans, enhancing both in-person entertainment and mobile betting. This partnership highlights DraftKings' commitment to expanding its market presence and providing innovative betting and entertainment options.
- Strategic partnership with Sports & Social enhances customer engagement.
- New venues in Nashville and Detroit will provide upscale sports entertainment.
- Combines dining and sports betting for a unique experience.
- Dependence on regulatory approvals could delay venue openings.
- Uncertainty in the impact of new competition in the sports entertainment market.
Deal to create unique, in-person luxury entertainment experience for DraftKings and Sports & Social customers
BOSTON and BALTIMORE, July 29, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) and national entertainment concept, Sports & Social, announced today a strategic new relationship to create upscale Sports & Social/DraftKings sports bars beginning in the Nashville and Detroit markets, pending regulatory approvals. The collaboration brings together Sports & Social’s market leadership in operating high-energy, first-class dining and entertainment venues with DraftKings’ top-rated and industry-leading sports gaming platforms. Together, the integration forms one of the most exciting new offerings in sports betting and entertainment for DraftKings and Sports & Social fans across the nation. The Sports & Social/DraftKings venues will be designed by ICRAVE, an internationally acclaimed award-winning strategy, design, and development firm, and promises to fill a niche by providing an upscale, premier sports and entertainment experience.
“Today, so much of sports betting is focused on the mobile-technology aspect, however the in-person experience is an integral layer that we look forward to advancing alongside Sports & Social’s premier dining and entertainment offerings,” said Ezra Kucharz, chief business officer at DraftKings. “By aligning with one of the fastest-growing entertainment concepts in the country, we now have the opportunity to bring our world-class products to life by offering engaging, interactive and fan-first destinations to skin-in-the-game customers.”
DraftKings operates in 14 states with online and retail sportsbooks, with several additional new markets on the horizon. Whether betting on mobile devices or in person at one of the 10 retail locations across the United States, DraftKings offers customers comprehensive betting markets and options, including live wagers and player proposition wagers. Additionally, DraftKings has sponsorship deals with several professional sports teams and leagues which include experiential elements for its customers.
A powerhouse name in dining and entertainment, Sports & Social is an upscale gaming parlor and social lounge that features the best in sports-watching and state-of-the-art audio/visual displays, made-from-scratch menu items, curated cocktails and exciting entertainment. Sports & Social is a concept by Live! Dining & Entertainment, a division of The Cordish Companies. A leader in the food & beverage industry, Live! Dining & Entertainment is one of the largest and most successful developers and operators of restaurants and entertainment concepts in the United States. Live! proudly welcomes 55 million visitors a year to its award-winning dining, entertainment, music, casino, hotel and sports-anchored destinations and venues nationwide.
“DraftKings is an industry leader in sports betting and entertainment, and we are incredibly excited to work with them to bring this new experience to life,” stated Reed Cordish, Principal of The Cordish Companies. “We are always looking to create new and innovative experiences for our guests and this collaboration will allow us an exciting opportunity to do so, bringing an incredible premier sports-watching experience with sports betting all under one roof.”
Sports & Social is currently located at the front door of professional sports stadiums, high-profile entertainment districts and world-class casino-resort destinations around the country including The Battery adjacent to Truist Park in Atlanta, GA; Ballpark Village adjacent to Busch Stadium in St. Louis, MO; Texas Live! in heart of the Arlington Entertainment District; Live! Casino Pittsburgh in Pittsburgh, PA; Live! Casino & Hotel Philadelphia in Philadelphia’s Stadium District and Live! Casino & Hotel Maryland in the Baltimore/Washington Corridor, one of the largest and most successful casino-resort destinations in the country. Locations of the Sports & Social/DraftKings venues will be announced in the coming months.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. DraftKings’ daily fantasy sports product is available in 7 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR, PGA TOUR and UFC as well as an authorized gaming operator of the NBA and MLB, an official betting operator of the PGA TOUR and the official betting operator of UFC. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About The Cordish Companies
The Cordish Companies’ origins date back to 1910 and encompass four generations of privately-held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Gaming; Commercial Real Estate; Entertainment Districts; Sports-Anchored Developments; Hotels; Residential Properties; Restaurants; Coworking Spaces; and Private Equity. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. The Cordish Companies has developed and operates highly acclaimed dining, entertainment and hospitality destinations throughout the United States, many falling under The Cordish Companies’ Live! Brand, highly regarded as one of the premier entertainment brands in the country. Welcoming over 55 million visitors per year, these developments are among the highest profile dining, entertainment, gaming, hotel and sports-anchored destinations in the country. Over the generations, The Cordish Companies has remained true to the family’s core values of quality, entrepreneurial spirit, long-term personal relationships, and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information visit www.cordish.com or follow us on Twitter.
“The Cordish Companies,” “The Cordish Company” and “Cordish” are trademarks used under license by independent corporations, legal liability companies and partnerships (“Cordish Entities”). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names “Cordish,” “The Cordish Companies” or “The Cordish Company” here or elsewhere.
About Sports & Social
Sports & Social is a powerhouse concept that offers its guests a complete food and beverage, sports viewing and entertainment experience. Each venue boasts state-of-the-art AV technology showcasing the top sports events year-round, a wide variety of interactive social games, and live music and events throughout the week. Sports & Social is located in high-profile entertainment districts, world-class casino resort destinations, and at the front door of professional sports stadiums around the country. Sports & Social is a concept by Live! Dining & Entertainment, a division of The Cordish Companies. Recognized as a leader in the food & beverage industry, Live! Dining & Entertainment is one of the largest and most successful developers and operators of restaurants and entertainment concepts in the United States. Sports & Social is experiencing significant growth and continues to expand nationwide.
Forward-Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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