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DraftKings Inc. - DKNG STOCK NEWS

Welcome to our dedicated page for DraftKings news (Ticker: DKNG), a resource for investors and traders seeking the latest updates and insights on DraftKings stock.

DraftKings Inc. (NASDAQ: DKNG) is a prominent American company specializing in daily fantasy sports contests and sports betting. Originating in 2012, DraftKings has made significant strides in the digital sports entertainment industry. The company offers daily and weekly fantasy sports-related contests where users can win money based on individual player performances across a variety of sports, including Major League Baseball (MLB), National Hockey League (NHL), National Football League (NFL), National Basketball Association (NBA), and the Professional Golfers' Association (PGA), among others.

Following the Supreme Court ruling in 2018, which allowed states to legalize online sports wagering, DraftKings expanded into online sports and casino gambling. It currently ranks as one of the top operators in the industry, maintaining a strong presence in both online and retail sports betting across 27 states, as well as iGaming operations in seven states. The company's offerings are also accessible to approximately 40% of Canada's population.

DraftKings operates a diverse portfolio that includes a non-fungible token (NFT) marketplace and licenses online gaming products. The company is committed to creating engaging and responsible gaming experiences. It has formed strategic partnerships with several major sports leagues, such as the NFL, NHL, PGA TOUR, UFC, NBA, and MLB, to enhance its fantasy sports and sports betting offerings. Additionally, DraftKings is an official partner of NASCAR and an authorized gaming operator of MLB.

In recent developments, DraftKings anticipates a significant boost in adjusted EBITDA, projecting an increase of $60 million to $100 million by the fiscal year 2026. The company also prioritizes responsible gaming and corporate social responsibility, offering extensive resources and programs to ensure player well-being.

Headquartered in Boston, DraftKings continues to innovate and lead in the realm of digital sports entertainment. With a mission to fuel the competitive spirit of sports fans, DraftKings is dedicated to delivering the world's favorite real-money games and betting experiences.

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DraftKings (Nasdaq: DKNG) has received a DFS license from the Louisiana Gaming Control Board, enabling its daily fantasy sports offerings in the state. Louisiana becomes the 44th state to host DraftKings, which encompasses popular sports like NFL, MLB, and NBA. As part of the launch, new customers will receive free credits for contests. The company introduces innovations such as the Fair Play Commitment Initiative and customizable DraftKings Leagues, enhancing user experience. The launch aligns with DraftKings’ broader expansion strategy across the U.S.

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DraftKings will release its second quarter 2021 results on August 6, 2021, before 8:30 AM EDT. A conference call to discuss these results will follow at the same time. Investors can access the earnings press release and related materials on DraftKings’ investor relations website. The audio webcast and presentation will be available until September 14, 2021. As a leading digital sports entertainment and gaming company, DraftKings operates across multiple states in the U.S. and is partnered with major sports leagues.

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DraftKings has announced a significant expansion of its partnership with Major League Baseball (MLB), introducing a new feature called Bet & Watch. This feature enables fans with active MLB.com and DraftKings accounts to watch live MLB games for free within the DraftKings app. As part of this agreement, DraftKings will serve as an Official Sports Betting Partner during the entire MLB postseason and will have numerous promotional rights, including brand exposure at key MLB events.

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Engine Media Holdings has filed a patent infringement lawsuit against DraftKings in New Jersey, alleging violations of its patents related to gaming services. The lawsuit focuses on the '243 Patent, which addresses latency in television reception during skill games, and the '543 Patent, which pertains to resource management for computing devices. Engine's subsidiary, Winview, aims to protect its intellectual property, boasting a portfolio of 80 U.S. patents. The company anticipates potential damages and relief through this legal action.

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DraftKings is set to sponsor the Nathan’s Famous Fourth of July International Hot Dog Eating Contest for the second year in a row. The event, held at Coney Island’s Maimonides Park, marks the return of a live audience after pandemic-related restrictions. DraftKings will offer a free-to-play pool with $25,000 in prizes and will serve as the official oddsmaker for the competition. The contest will feature top eaters, including Joey Chestnut, aiming for a record-breaking win. The event will be broadcasted live on ESPN.

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DraftKings Inc. (Nasdaq: DKNG) announced a strategic consulting agreement with the Division on Addiction at Cambridge Health Alliance, affiliated with Harvard Medical School. This partnership aims to develop a systems-based approach to responsible gaming training for employees, enhancing player safety policies and resources. The collaboration is rooted in previous research utilizing DraftKings' anonymized data, leading to academic contributions. As sports betting expands, the initiative emphasizes the need for evidence-based strategies to mitigate gaming-related risks.

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Domino's Pizza (NYSE: DPZ) has introduced a new Carside Delivery 2-Minute Guarantee. Customers who order online can check in upon arrival, and a team member will bring their order to their car in less than two minutes or receive their next pizza for free. Additionally, in partnership with DraftKings (Nasdaq: DKNG), they launched the Over/Under Challenge, allowing customers to predict the delivery speed for a chance to win a share of $200,000. The challenge runs until July 12, 2021.

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DraftKings has partnered with the American Gaming Association (AGA) to launch the Have A Game Plan.® Bet Responsibly™ campaign across its retail sportsbooks. This initiative will provide education on responsible sports betting to patrons at all ten DraftKings locations in the U.S. The collaboration integrates responsible gaming tools alongside existing DraftKings messaging to promote safer gambling practices. With over 100 million Americans now able to legally bet on sports, this campaign aims to enhance consumer safety and awareness of problem gambling.

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DraftKings (Nasdaq: DKNG) announced that its CEO and co-founder, Jason Robins, will participate in the Goldman Sachs Travel and Leisure Conference on June 7, 2021, with a fireside chat scheduled for 2:25 PM ET. The conference will be accessible through the conference website and DraftKings' Investor Relations page. As a leading digital sports entertainment and gaming company, DraftKings operates across various sports betting and gaming technologies, making it a prominent player in the industry.

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DraftKings Inc. (Nasdaq: DKNG) announced a financial commitment to the International Center for Responsible Gaming (ICRG) to support research on responsible gaming, particularly in sports betting. This fund will enable global researchers to apply for grants aimed at investigating problem gambling and responsible gaming practices. Applications are open until September 2021, with selected projects receiving funding for three years. CEO Jason Robins emphasized the company's dedication to customer safety and responsible gaming innovation.

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FAQ

What is the current stock price of DraftKings (DKNG)?

The current stock price of DraftKings (DKNG) is $38.57 as of December 24, 2024.

What is the market cap of DraftKings (DKNG)?

The market cap of DraftKings (DKNG) is approximately 18.8B.

What does DraftKings Inc. do?

DraftKings Inc. specializes in daily fantasy sports contests and sports betting, offering users opportunities to win money based on player performances in various sports.

When was DraftKings founded?

DraftKings was founded in 2012.

In how many states does DraftKings operate sports betting?

DraftKings operates sports betting in 27 states.

Which major sports leagues are partnered with DraftKings?

DraftKings is partnered with NFL, NHL, PGA TOUR, UFC, NBA, and MLB. It is also an official daily fantasy partner of NASCAR.

What is DraftKings' approach to responsible gaming?

DraftKings prioritizes responsible gaming by offering resources and programs to ensure player well-being and promote responsible play across its platforms.

What are recent financial projections for DraftKings?

DraftKings expects to drive $60 million to $100 million in adjusted EBITDA by the fiscal year 2026.

Where is DraftKings headquartered?

DraftKings is headquartered in Boston, Massachusetts.

Does DraftKings offer online casino gaming?

Yes, DraftKings offers online casino gaming, also known as iGaming, in several states.

What other products does DraftKings offer?

Besides sports betting and fantasy sports, DraftKings operates an NFT marketplace, licenses online gaming products, and offers digital media content.

How does DraftKings support players facing problem gaming?

DraftKings collaborates with Kindbridge Behavioral Health to provide comprehensive mental health assessments and personalized care plans for players who self-exclude.

DraftKings Inc.

Nasdaq:DKNG

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DKNG Stock Data

18.81B
474.98M
2.42%
77.08%
4.63%
Gambling
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