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Disney to invest $250M in DraftKings: Report

DraftKings
Source: DraftKings

The House of Mouse is setting out to conquer yet another highly-lucrative space: Fantasy sports, The Wall Street Journal reported Friday.

Walt Disney is making a $250-million bet on DraftKings, a Boston-based fantasy sports start-up that lets users play with real money at stake on a per-game basis, the report said.

In return for the investment, DraftKings has agreed to spend more than $500 million on advertising with ESPN, Disney's 24-hour sports network, the report added.

Disney's investment would raise DraftKing's value to about $900 million, according to the report.

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DraftKings did not immediately responded to CNBC's request for comment, while ESPN declined to comment.

Read the full report here.