Fox Sports Chief Eric Shanks Touts Fox Bet Gambling Initiative, Tells Investors Rights Portfolio “Second To None”

Fox Sports is entering the legalized sports betting arena “ambitiously, aggressively, but also responsibly,” the division’s chief, Eric Shanks, declared during the Fox Corp. investor day Thursday.

Fox Bet, a new offering catering to those newly permitted to lay wagers in multiple states after a Supreme Court ruling cleared the path, will be “up and running by this football season,” Shanks said. He did not offer a detailed look at the service, which was made possible by a partnership between Fox and Canadian gambling outfit The Stars Group, which was announced yesterday.

Fox will become the first established media company to put its name on betting products aiming to compete in states with legalized betting against companies like FanDuel and DraftKings. In exchange for a $236 million investment in Stars, Fox gets about 5% of the company.

The push into betting was among several key points in Shanks’ presentation to Wall Street
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