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.
DraftKings has announced its partnership with 23XI Racing and driver Bubba Wallace as the official Daily Fantasy Sports and Sportsbook partner, pending regulatory approval. This sponsorship will begin at the Texas Grand Prix on May 23, 2021, and will last throughout the 2021 NASCAR season, featuring the DraftKings logo on the No. 23 Camry. The collaboration aims to enhance the experience for racing fans, including social media content and a free-to-play pool with prizes. DraftKings emphasizes shared values with the team, particularly in social justice advocacy.
DraftKings Reports Strong Q1 Results: DraftKings (DKNG) posted a remarkable first quarter revenue of $312 million, a 253% increase from $89 million year-over-year. The company raised its 2021 revenue guidance to $1.05 billion to $1.15 billion, signaling continued growth. Key metrics include a 114% rise in Monthly Unique Payers (MUPs) and a 48% increase in Average Revenue per MUP (ARPMUP). Additionally, DraftKings is expanding its market presence with new mobile sports betting in Michigan and Virginia.
DraftKings (Nasdaq: DKNG) has partnered with Meadowlark Media to enhance its content distribution and monetization strategy. The collaboration will feature The Dan Le Batard Show with Stugotz along with the Le Batard & Friends Network across various platforms, promoting DraftKings' odds and betting trends. This agreement follows DraftKings' acquisition of Vegas Sports and Information Network (VSiN) and the hiring of a Chief Media Officer. The deal aims to reach a broader audience and provide quality programming without compromising the show’s integrity.
DraftKings announced that Jason Robins, co-founder and CEO, will deliver a keynote speech in the Knight Venture Leader Lecture Series at the University of Miami Herbert Business School on April 22, 2021, at 5:00 PM ET. The event aims to showcase industry leaders and innovative thinkers. Registrations and live access are available on the conference website. DraftKings, based in Boston, is a leading digital sports entertainment and gaming company, providing a wide range of sports betting and gaming technologies across various markets.
DraftKings Inc. has expanded its partnership with the NFL, becoming the Official Sports Betting Partner while retaining its status as the exclusive Official Daily Fantasy Partner.
This partnership allows DraftKings to integrate sports betting content into NFL Media properties and utilize the NFL's official data feed, enhancing fan engagement.
Both organizations aim to innovate how fans interact with sports, emphasizing responsible gaming practices as part of their collaboration.
DraftKings Inc. has announced a $200,000 donation to the Jackie Robinson Foundation to support its scholarship program aimed at addressing educational disparities. The announcement coincides with MLB's Jackie Robinson Day on April 15, honoring the legend's impact on sports. DraftKings' co-founder and CEO, Jason Robins, expressed pride in contributing to a cause that honors Robinson’s legacy. The company has donated over $1.1 million to various charities in 2021 and continues to explore more support avenues for the Foundation's initiatives.
DraftKings and the PGA TOUR are expanding their partnership to launch a premium sportsbook at TPC Scottsdale in Arizona, following the passage of HB 2772, which legalizes sports betting in the state. This initiative aims to enhance fan engagement and is expected to create a dynamic ‘19th hole’ experience for visitors. DraftKings will also become the exclusive sports betting partner for the Waste Management Phoenix Open. The collaboration is positioned to deliver significant economic benefits for the local community and make TPC Scottsdale a premier destination for sports betting.
DraftKings Inc. (Nasdaq: DKNG) has appointed Brian Angiolet as its first Chief Media Officer to enhance content creation and media strategy. Angiolet, previously SVP at Verizon, brings extensive experience in digital media and sports partnerships. He will oversee efforts following DraftKings' recent acquisition of Vegas Sports Information Network (VSiN) and other media integration initiatives. CEO Jason Robins emphasized Angiolet's potential to drive engagement through innovative content strategies, marking a significant step in DraftKings' growth in the sports and gaming arena.
DraftKings (Nasdaq: DKNG) will release its first quarter 2021 results on May 7, 2021, prior to 8:30 AM EDT. A conference call to discuss these results will be held at 8:30 AM EDT that same day. Investors can access the earnings press release and related materials on DraftKings' investor relations website. The audio webcast of the call will also be available on the site until June 14, 2021. DraftKings is a leading digital sports entertainment and gaming company, operating in multiple countries and providing a variety of sports betting and gaming technologies.
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