Charlotte Hornets Name DraftKings Official Daily Fantasy Sports Partner

Rhea-AI Summary

DraftKings Inc. (Nasdaq: DKNG) has been named the exclusive Official Daily Fantasy Sports Partner of the Charlotte Hornets, enhancing its visibility in North Carolina. The multi-year deal includes access to Hornets trademarks, LED signage at Spectrum Center, and joint social promotions. A free-to-play Hornets-themed predictive game will also be developed within the team's mobile app. This partnership aims to provide engaging experiences for fans, marking a significant collaboration between the two brands.

Positive

• Exclusive partnership with the Charlotte Hornets enhances brand visibility in North Carolina.
• Access to Hornets trademarks and logo for marketing.
• Plans for a free-to-play Hornets-themed predictive game will attract fans.

Negative

• None.

BOSTON and CHARLOTTE, N.C., Jan. 27, 2021 (GLOBE NEWSWIRE) -- The Charlotte Hornets have named DraftKings Inc. (Nasdaq: DKNG) as the exclusive Official Daily Fantasy Sports Partner of the franchise. The multi-year agreement will greatly increase DraftKings’ presence in North Carolina. Along with access to Hornets trademarks and logos, the deal provides that DraftKings-branded LED signage will be featured courtside and on the basket stanchion at Spectrum Center, in addition to logo displays on top of the backboards. The two companies will also collaborate on unique social promotions and content that further align the collective brands.

“Charlotte Hornets basketball games are must-watch TV for the NBA, and we look forward to providing Hornets fans with a best-in-class gaming experience,” said Ezra Kucharz, chief business officer at DraftKings. “We look forward to deepening our business relationship with the Hornets organization through this new agreement and showcasing DraftKings in North Carolina.”

As part of the collaboration, the Hornets and DraftKings plan to develop a free-to-play, Hornets-themed predictive game that will integrate within the team’s mobile app. Additionally, the partnership includes VIP experiential events at games including press conference access, courtside shootarounds, coach and staff meet and greets and more.

“We’re excited to enter this partnership with DraftKings and bring its daily fantasy sports products to our great Hornets fans,” said Hornets Sports & Entertainment President & Vice Chairman Fred Whitfield. “Collaborating with DraftKings will allow us to offer our fans engaging new experiences from the leader in this emerging area.”

Fans can access DraftKings Sportsbook and Daily Fantasy Sports apps anywhere by visiting DraftKings.com or by downloading the DraftKings app via iOS and Android. Fans can also download the Hornets App for either platform.

ABOUT HORNETS SPORTS & ENTERTAINMENT

Hornets Sports & Entertainment owns the Charlotte Hornets, Greensboro Swarm and Hornets Venom GT, and operates Charlotte’s Spectrum Center.  The Charlotte Hornets are a member of the NBA’s Southeast Division.  Owned by NBA Legend Michael Jordan, the Hornets organization strives to deliver a relentless attack on the court, an unmatched experience in the stands and a positive impact throughout the community.  The name of the city’s original NBA team from 1988-2002, the Hornets moniker returned to Charlotte in May 2014, uniting the rich history of NBA basketball in the Carolinas.  The Greensboro Swarm are the NBA G League affiliate of the Charlotte Hornets and play at the Fieldhouse at the Greensboro Coliseum Complex.  Hornets Venom GT is the organization’s esports team affiliate that joined the NBA 2K League in 2020.  Spectrum Center is the premier destination for sports and entertainment in the Carolinas, hosting over 150 sporting events, concerts and family shows annually.  For more information, please visit hornets.com, gsoswarm.com, HornetsVenomGT.com or spectrumcentercharlotte.com.

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 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR.

Media Contacts

media@draftkings.com

@DraftKingsNews

Charlotte Hornets Contact

Josh Rosen, Senior Director of Corporate Communications, jrosen@hornets.com 

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.

FAQ

What is the significance of the DraftKings and Charlotte Hornets partnership?

The partnership designates DraftKings as the exclusive Official Daily Fantasy Sports Partner, enhancing its brand presence in North Carolina and providing unique fan engagement opportunities.

What agreements are included in the DraftKings-Hornets partnership?

The agreement allows access to Hornets trademarks, features DraftKings-branded signage at games, and involves collaborative social promotions.

What new gaming experiences will DraftKings provide to Hornets fans?

DraftKings plans to develop a free-to-play, Hornets-themed predictive game integrated within the team's mobile app for increased fan engagement.

How will this partnership affect DraftKings' stock performance?

While the partnership is a positive development for brand visibility, its direct impact on stock performance will depend on subsequent fan engagement and revenue growth.