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 Inc. (Nasdaq: DKNG) has acquired Blue Ribbon Software Ltd., a leader in jackpot and gamification technology based in Tel Aviv. This acquisition enables DraftKings to enhance customer engagement through customizable jackpot promotions and personalized rewards across its platform. BlueRibbon's expertise will help DraftKings further differentiate its offerings in the competitive sports betting and iGaming markets. The integration will also see BlueRibbon's team fully merged into DraftKings, with plans for hiring in Tel Aviv.
DraftKings (Nasdaq: DKNG) has announced that CFO Jason Park will speak at the Michigan Ross Sports Tech Conference on March 31, 2021, at 12:45 PM EDT. This participation highlights DraftKings' commitment to engaging with industry leaders and furthering its presence in the sports tech sector. The conference will provide live video and audio access, details of which can be found on the event's website.
DraftKings has acquired the Vegas Sports Information Network (VSiN), enhancing its content capabilities in the rapidly expanding sports betting market. This strategic acquisition allows DraftKings to leverage VSiN's established audience and credible content creation, which includes over 18 hours of live sports betting broadcasts daily. CEO Jason Robins emphasized the importance of VSiN’s brand equity and infrastructure. VSiN will maintain operational independence while integrating its staff into DraftKings' workforce. This move is expected to position DraftKings better amidst the growing legalization of sports betting across the U.S.
DraftKings (Nasdaq: DKNG) has been announced as the Official Gaming Partner of WWE (NYSE: WWE), pending regulatory approval. This partnership will feature DraftKings' free-to-play pools product, debuting at WrestleMania on April 10 and 11, enhancing audience engagement with WWE's events. The collaboration provides DraftKings an exclusive license for media assets and in-game branding for WWE's pay-per-view events, allowing fans to participate in integrated contests. This agreement marks a significant milestone in WWE’s efforts to deepen fan engagement and offers DraftKings leverage with WWE's extensive audience.
DraftKings (Nasdaq: DKNG) announced that CEO Jason Robins will speak at the Duke Sports Business Conference on March 25, 2021, at 6:00 PM EDT. The conference aims to explore various aspects of sports business. Attendees can register and access live video and audio through the conference's website. DraftKings is a leading digital sports entertainment and gaming company, offering services across daily fantasy, regulated gaming, and digital media.
DraftKings announced a private offering of $1.1 billion in 0% Convertible Senior Notes due 2028, increasing from a previous $1 billion offering. The sale is expected to close on March 18, 2021. The initial conversion rate is approximately 10.5430 shares per $1,000, representing a 40% premium over the last sale price of $67.75. Net proceeds are estimated at $1,084 million, with funds allocated for working capital, mergers, acquisitions, and capped call transactions. The Notes are not redeemable until March 15, 2025, and will not accrue regular interest.
DraftKings (DKNG) announced plans to offer $1 billion in Convertible Senior Notes due 2028 in a private institutional offering. The offering includes a 13-day option for initial purchasers to buy an additional $150 million in Notes. Proceeds will be used for working capital and corporate purposes, including potential mergers and acquisitions. The Notes will be unsecured and may be converted into cash or shares of Class A common stock. The company also plans capped call transactions to mitigate potential dilution of its stock.
DraftKings has entered a historic partnership with UFC, becoming their first official exclusive sportsbook and daily fantasy partner in the U.S. and Canada. This agreement allows DraftKings to leverage UFC branding, offer free-to-play games, and create innovative betting opportunities. The UFC Fight Clock, a new time-keeping system, will also feature DraftKings as its presenting partner. This partnership is expected to enhance fan engagement and capitalize on the growing popularity of combat sports.
DraftKings will host a virtual Investor Day on March 9, 2021, starting at 9:00 a.m. ET. The event, lasting approximately two and a half hours, will feature presentations from key executives including CEO Jason Robins and CFO Jason Park, followed by a Q&A session. Interested parties can register through the Investor Relations website, where an on-demand replay will be available post-event. DraftKings is a leading digital sports entertainment and gaming company, offering a variety of products in the sports betting and fantasy sports sectors.
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