DraftKings Inc. - DKNG STOCK NEWS

DraftKings reports third quarter 2021 financial results, achieving revenue of $213 million, a 60% increase year-over-year. The growth aligns with prior guidance. Monthly Unique Payers (MUPs) rose by 31%, and Average Revenue Per MUP increased by 38%. The company has raised its 2021 revenue guidance midpoint to $1.26 billion, projecting 93% to 99% growth. New revenue guidance for 2022 indicates further expansion, aiming for $1.7 billion to $1.9 billion. DraftKings is now operational in 15 states for mobile sports betting, representing 29% of the U.S. population.

DraftKings has announced a major multiyear partnership expansion with the NBA, becoming a co-official sports betting partner. This deal enhances DraftKings' rights to integrate its offerings into NBA-related products, including the new NBABet Stream telecast that features interactive betting content. The agreement allows DraftKings to be prominently featured at key NBA events, enhancing brand visibility. Early season metrics show a significant uptick in customer engagement and betting activities, indicating a strong market demand for NBA-related gaming.

DraftKings is enhancing its military support through the DK S.E.R.V.E.S. initiative, training over 500 veterans and military spouses, and donating more than $1 million to veteran-focused organizations. In partnership with the Pat Tillman Foundation, DraftKings aims to empower veterans with educational tools and leadership development. The company will host a Veterans Month free-to-play pool and offer military-themed merchandise, with profits benefitting the Foundation. Since 2018, DraftKings has raised nearly $1 million for veteran initiatives, underlining its commitment to support those who served.

DraftKings (NASDAQ: DKNG) announced it will not pursue a firm offer for Entain after discussions with its board. CEO Jason Robins expressed confidence in DraftKings' capabilities to lead in the North American market, emphasizing its technology and brand strength. Due to this announcement, DraftKings is subject to Rule 2.8 restrictions for six months, limiting further approaches for a potential acquisition unless specific conditions are met. DraftKings aims to focus on maintaining its growth trajectory within the digital sports entertainment sector.

Drive by DraftKings has raised a $60 million venture fund, oversubscribed by 20%, to invest in sports tech and entertainment. Backed by prominent investors including The Kraft Group and Madison Square Garden Sports Corp., the fund was raised in just six months. CEO Meredith McPherron expressed excitement about the firm's capacity to drive growth and innovation in the industry. The fund's investment themes focus on human performance, sports and gaming, media engagement, and data monetization, amid a projected surge in the sports technology market valued at $17.9 billion in 2020.

DraftKings (NASDAQ: DKNG) announced that the deadline for making a firm offer for Entain has been extended to 5:00 p.m. London time on November 16, 2021. This extension is under the City Code on Takeovers and Mergers. The company continues discussions and due diligence regarding a possible offer, emphasizing potential benefits for shareholders such as market expansion and accelerated product growth. However, the announcement does not guarantee that an offer will be made, and further updates will be provided as necessary.

Autograph, co-founded by Tom Brady, has partnered with Lionsgate and Twisted Pictures to release exclusive NFTs from the Saw franchise, starting October 26. This first-of-its-kind digital collectible series will include 10,000 unique items spanning three categories: keys, schematics, and traps. Collectors acquiring all three will receive additional exclusive content on Halloween. The Saw franchise has grossed over $1 billion at the box office, and this partnership aims to enhance fan engagement through digital collecting, coinciding with the upcoming Halloween festivities.

DraftKings and the Mashantucket Pequot Tribal Nation launched online and mobile sports betting and casino games in Connecticut on October 19, 2021, at 6:00 AM ET. The initiative follows successful soft launch testing. The first bet was $25 on the Los Angeles Dodgers in the National League Championship game.

Now, residents aged 21 and over can access a range of betting options via the Foxwoods and DraftKings app. A virtual press briefing is set to follow at 9:30 AM ET, featuring key executives from both organizations.

DraftKings Inc. (Nasdaq: DKNG) has opened a new retail sportsbook location at Filotimo in Dover, New Hampshire, marking the state's third retail sportsbook. This expansion follows successful mobile sports betting launched on December 30, 2019, with bettors placing over 16 million wagers totaling nearly $660 million. The new venue offers modern amenities, including sports betting kiosks and a vibrant atmosphere. New Hampshire Lottery officials anticipate that the new location will enhance revenue for education in the state, reinforcing New Hampshire's reputation as a premier sports betting destination.