WWE Pact Adds Further Legitimacy To DraftKings

World Wrestling Entertainment, Inc. (NYSE: WWE) agreed to a promotional partnership Wednesday with the privately held online gaming provider DraftKings Inc.

Financial terms weren’t disclosed.

Under the arrangement, DraftKings of Boston will help promote a contest for wrestling fans, the winner of which will be awarded a free trip to matches in New York, along with introductions to wrestling event participants.

Miami sports agent and real estate broker Darren Heitner told Benzinga that the agreement adds further legitimacy to DraftKings.

For the Stamford, Connecticut-based wrestling company, it adds a partner “fueled by growth in the past few years that should be able to add awareness to various promotions,” Heitner said.

“It could easily be deemed a win-win,” according to Heitner, who last month joined the Miami residential real estate brokerage No Limit as a sales associate.

Shares of WWE closed Wednesday at $15.85, down 1.37 percent.

See more from Benzinga

Source Article from http://finance.yahoo.com/news/wwe-pact-adds-further-legitimacy-212609371.html

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