Streetbeat News

DKNG

DraftKings Inc.

https://www.draftkings.com

Industry

Gambling, Resorts & Casinos

DraftKings Inc. operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The company's daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.

Open

40.75

Mkt cap

19B

Volume

11M

High

40.75

P/E Ratio

-45.79

52-wk high

49.57

Low

38.94

Div yield

N/A

52-wk low

28.69

Mobile sports betting revenue in New York hit a record $165.6m in September, up 15.6% from $143.3m in September 2022 and 68.1% more than $98.5m in August 2023. FanDuel, owned by Flutter Entertainment, retained the top spot in revenue terms, followed by DraftKings, Caesars, BetMGM, and Rush Street Interactive. PointsBet, recently acquired by Fanatics Betting and Gaming, posted $1.6m in gross gaming revenue. Bally Bet remained closed for the third consecutive month.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:48 pm

The legalization of online sports betting in Florida is facing legal challenges, with a decision expected in the coming weeks. The lawsuits, filed by West Flagler Associates, argue that online sports betting outside of Seminole tribal territories may violate state and federal regulations. The outcome could impact sportsbook companies like DraftKings (DKNG) and FanDuel (PDYPY), who are backing some of the lawsuits in an effort to secure a share of the market. Depending on the rulings, Florida residents may only be able to place online wagers with Hard Rock Bet, owned by the Seminole Tribe.

Portfolio Pulse from Chris Katje

October 09, 2023 | 1:05 pm

Benzinga's options activity scanner has identified significant options activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Nike (NKE), Rivian (RIVN), Capri Holdings (CPRI), Airbnb (ABNB), Carvana (CVNA), RH (RH), Dick's Sporting Goods (DKS), DraftKings (DKNG), and Crocs (CROX). The options activity ranges from bullish to bearish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 5:35 pm

The latest betting odds for the 2024 presidential election show Donald Trump as the favorite, with Joe Biden in second place. Florida Gov. Ron DeSantis has seen a drop in support, while Nikki Haley's odds have improved. DraftKings Inc (NASDAQ:DKNG) offers betting for residents of Canada, but not for U.S. residents. The debate between DeSantis and Democratic California Gov. Gavin Newsom will air on Fox News, a unit of Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA), in November.

Portfolio Pulse from Chris Katje

October 05, 2023 | 11:08 pm

Guggenheim analyst Curry Baker has maintained a 'Buy' rating on DraftKings (NASDAQ:DKNG) but lowered the price target from $38 to $37.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 6:54 pm

The article reports on the options activity of 10 consumer discretionary stocks. The stocks mentioned are Tesla (TSLA), DraftKings (DKNG), Carvana (CVNA), Toyota Motor (TM), KB Home (KBH), Lucid Group (LCID), V.F. Corporation (VFS), Mattel (MAT), Home Depot (HD), and Wayfair (W). The article provides detailed information about the options activity for each stock, including the type of option (put or call), the sentiment (bearish or bullish), the expiration date, the strike price, the total trade price, the open interest, and the volume.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 5:35 pm

Stifel analyst Jeffrey Stantial has initiated Churchill Downs Inc (NASDAQ:CHDN) with a Buy rating and a price target of $148. Stantial believes Churchill Downs could be one of the best growth stories in the gaming space, with potential for high ROI expansion projects. The company operates with three segments: live & historical racing, TwinSpires and gaming. Churchill Downs has partnered with DraftKings Inc (NASDAQ:DKNG) for its DK Horse platform.

Portfolio Pulse from Chris Katje

October 03, 2023 | 4:07 pm

Detroit casino workers have authorized a potential strike if a new contract is not reached by October 16. The strike could affect MGM Grand Detroit, owned by MGM Resorts International, the Hollywood Casino at Greektown, owned by PENN Entertainment, and the MotorCity Casino. The workers are seeking job protection related to a rise in technology, which could put online sports betting and iGaming at the forefront of a strike. This could benefit online platforms like DraftKings and FanDuel. The strike could also negatively impact the state of Michigan and city of Detroit due to loss of tax revenue.

Portfolio Pulse from Chris Katje

October 02, 2023 | 8:54 pm

Needham analyst Bernie McTernan has reiterated a 'Buy' rating on DraftKings (NASDAQ:DKNG) and maintained a price target of $44.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 11:12 am

Workers at Detroit's casinos, including MGM Resorts International's MGM Grand Detroit and PENN Entertainment, Inc.'s Hollywood at Greektown, have authorized a potential strike that could disrupt the city's gaming sector. The strike, backed by the United Auto Workers (UAW) and Teamsters, could mobilize over 3,500 workers to halt operations as early as mid-October. This comes amid escalating labor movements nationwide and could impact the operations of casino conglomerates like MGM Resorts and PENN Entertainment.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:49 pm

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