SILVER SPRING, Md.: DraftKings had a big bounce on Wall Street Wednesday (Thursday in Manila) on news that basketball legend Michael Jordan is taking an ownership stake in the sports betting site. Jordan is getting stock in DraftKings in exchange for ...
DraftKings had a big bounce on Wall Street Wednesday on news that basketball legend Michael Jordan is taking an ownership stake in the sports betting site.
The DraftKings logo is displayed at the sports betting company headquarters in Boston. DraftKings shares jumped 4% in morning trading, Wednesday, Sept. 2, 2020 after announcing that basketball legend Michael Jordan would take an ownership stake in the company in exchange for becoming a special adviser to the sports betting site. AP FILE PHOTOJordan is the majority owner of the NBA’s Charlotte Hornets and the deal has the league’s approval.
That differs from the way Golden Nugget casinos, owned by Houston Rockets owner Tilman Fertitta, are permitted to handle games involving his NBA club. Golden Nugget sports books in Nevada, New Jersey and Mississippi can accept NBA wagers, but cannot for games involving the Rockets.
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