Why Caesars Entertainment's Shares Popped 12.3% on Monday

Shares of gambling giant Caesars Entertainment (NASDAQ: CZR) jumped as much as 12.3% in trading Monday after announcing a big new partnership. The stock bounced mid-day and is still up 9% in trading at 3:05 p.m. EDT. 

Disney (NYSE: DIS) owned ESPN announced that it has entered into separate multi-year agreements with Caesars and DraftKings (NASDAQ: DKNG) to integrate with their digital platforms. Caesars' partner William Hill will have its data featured on ESPN's platforms and integration to its sportsbooks with Caesars' at both physical locations and mobile-betting apps. 

Image source: Getty Images.

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Source Fool.com