[The beef 675]
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âThereâs always a villain in Disney fairy tales. I canât wait to see which of my family members turn into Scar when they realize they should have taken the over.â - Jason
Hey there carnivores,
Markets were up on Monday, and tech was behind it yet again.
Today weâre looking at ESPN betting on DraftKings.
Keep raging,
Jeff & Jason
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[I'm an image]
Bet on it
What a time to be a degenerate.
DraftKings [announced a deal]( with ESPN to become the exclusive provider of daily fantasy sports services to the worldwide leader. It also inked a deal to be a co-exclusive provider of gambling services.
Doing its best Barstool/Penn impression, the two are following a trend of media companies collabing with gambling companies. Deal terms were not disclosed but DraftKings will become fully integrated into ESPN programs and studio shows.
Investors are all in on the move. DKâs share price rose 17% on the news yesterday and is now up over 140% [since it IPOâd]( via (what else?) a SPAC in April.
This comes less than two weeks after DraftKings landed Michael Jordan as a special adviser to the board. That's what they call in the business a parlay.
Throuple
But the deal may not be as âexclusiveâ as it seems. Caesars [is also in]( on the polyamorous gambling deal. It's the "other" provider that will have link outs to its betting sites from ESPN. ESPN, you dog, you.
Caesars already provides betting odds to ESPN, and after opening its own TV studio, there is a potential to start producing content for the media giant as well.
Caesars shares rose 12% on the news.
The bottom line...
ESPN is going all-in on the gambling racket. Hmm, sounds a lot like a certain smut-peddling sports blog led by a degenerate day trader...
The Disney-owned sports giant has broadcast contracts with most major sports leagues in the US. So not only will families be able to share their love for a favorite team but they can learn the pure joy and ecstasy that comes with hitting a back door cover!
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[I'm an image]
âï¸Time for your review. Despite news breaking yesterday that Oracle had won the right to become TikTok's strategic partner in the US, itâs not across the finish line just yet. The US Treasury Department will be [conducting]( a National Security review.
The US Committee on Foreign Investment will be reviewing the deal later this week to determine if Oracleâs purchase of the Chinese firm poses a national security risk. While their sign off would be a good thing for everyone involved, President Trump can still overrule the deal.
âï¸Loading up. Amazon is ready to answer the call. Bezos and Co. announced theyâll be [hiring 100k]( more employees in the US and Canada over the next few months. Good news if youâre looking for a job, bad news if you like bathroom breaks.
After the hiring, Amazonâs global workforce will total more than 1M, not including the temporary seasonal personnel it hires to deal with the holiday rush. In total, Amazon will have more than 700k employees in the US. Just wait, Walmart, Amazon will start hiring greeters and come for that #1 spot.
âï¸Can you hear me now? TracFone finds itself asking that very same question after Verizon agreed to [purchase]( the wireless provider for $7B in cash and stock. The preferred burner phone provider of guys named Kyle has around 21M prepaid customers that Verizon will now have access to, and strengthens Verizonâs foothold in the prepaid market.
Verizon is already the USâ largest phone carrier, with more than 120M customers. Itâs trailed by TMobile, which bought Sprint and gave it the number 2 spot ahead of AT&T. With the move, Verizon now overtakes TMobileâs Metro, the previous leading provider of prepaid phones.
âï¸Letâs get together. UBS and Credit Suisse could be [teaming up]( through a merger that would create one of the largest banks in Europe. According to reports, chairmen from both banks have been involved in the talks, and it could be a done deal by as soon as 2021. Just the fact that itâs not happening in 2020 bodes well for them.
If the deal goes through, the combined banks would hold deposits worth upwards of â¬1.6T. On the flip side, thereâd be a lot of job overlap, and we could see up to 15k job cuts, marking 15% of the total staff of the banks worldwide. Better polish up that resume, back-office bois.
On the rumors, Credit Suisse shares climbed 4.8% while UBS jumped 2.5%.
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