Shares of Caesars Entertainment (CZR) - Get Report were rising Monday after the casino company announced that it has formed a partnership with ESPN to produce sports betting news and entertainment content.
ESPN will have a branded studio at Caesars-owned The LINQ Hotel & Casino in Las Vegas where the content will be created along with segments for ESPN's newly launched sports betting show "Daily Wager."
"We're really excited about the long-term value this collaboration with ESPN will create and thrilled that, starting immediately, ESPN's platforms will begin featuring odds information generated by Caesars Entertainment. Millions of sports fans look to ESPN as a sports authority, and Caesars is honored to have been selected for having the best odds to serve those fans," said Chris Holdren, Caesars executive vice president.
Walt Disney-owned (DIS) - Get Report ESPN has ramped up its sports betting programming since the U.S. Supreme Court struck down in May 2018 a decades-old federal ban on sports gambling, allowing individual states to determine whether they want legalize gambling or not.
Caesars shares rose 1.2% to $8.99.
Disney is a key holding in Jim Cramer's Action Alerts PLUS charitable trust.