Major league baseball set to start on April 7 after labor deal worked out

Mar. 10, 2022 3:36 PM ETDraftKings Inc. (DKNG), SEATMGM, PENN, GMVHF, DIS, T, FOXBy: Clark Schultz, SA News Editor19 Comments

A macro of a baseball with red stitching and room for copy on the ball — GillTeeShots/iStock via Getty Images

DraftKings (DKNG -0.8%) cut its loss on Thursday after ESPN reported that Major League Baseball and the MLB Players Association reached a tentative agreement on a new labor deal. The agreement still needs to be ratified by both parties, but players could report to spring training camps as early as Friday. Opening Day could be set for as early as April 7.

The lockout lasted for 99 days after the owners took the action when the previous collective bargaining agreement expired to mark MLB's first work stoppage since the players strike in 1994.

Watch Vivid Seats (SEAT -9.7%), which factored in a loss of several months of the baseball season to its FY22 guidance. It is also a positive development for MGM Resorts (NYSE:MGM), Penn National Gaming's (NASDAQ:PENN) Barstool and FanDuel (MGM, OTCPK:GMVHF).

On the media front, ESPN (NYSE:DIS) Turner (NYSE:T) and Fox (NASDAQ:FOX) have TV contracts for the 2022 season.