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 partners with Bleacher Report for an exclusive Super Bowl prop betting reveal show on January 25, 2021. The show, titled B/R Drop Zone: DraftKings Big Game Prop Reveal, will feature expert insights, celebrity guests, and the unveiling of 40 prop bets across five categories. Hosted by Cabbie Richards and Greg Ivory, the event highlights DraftKings’ innovative betting offerings, aiming to engage an audience of millions. More than 200 prop bets will be available, along with a free-to-play $55 Million Super Bowl Prediction Challenge, enhancing DraftKings' market position.
In 2020, the online sports betting industry experienced significant growth, and 2021 is expected to be crucial for its expansion. Key markets in the US and Europe are seeing legalization, which coincides with a rise in consumer interest. Companies like Bragg Gaming Group (TSXV:BRAG), DraftKings (NASDAQ:DKNG), Penn National Gaming (NASDAQ:PENN), and Esports Entertainment Group (NASDAQ:GMBL) are capitalizing on these opportunities. Bragg's recent partnership in the Netherlands and DraftKings' 98% revenue increase to $133 million underscore the industry's potential as it adapts to emerging markets.
The Drone Racing League (DRL) has partnered with DraftKings (Nasdaq: DKNG), becoming the first aerial sporting event where fans can place bets. As mobile sports betting gains traction, the deal allows wagering in states like Colorado, New Hampshire, and New Jersey. DraftKings has seen a significant interest in betting on DRL, with over 150,000 entries in a free-to-play pool during the 2020 season. The partnership includes exclusive marketing rights and promises engaging betting experiences around live races, starting January 9th on NBC and social media.
DraftKings and InComm Payments announce a strategic partnership to launch an industry-first retail gift card, enhancing DraftKings’ consumer payment options. Available at popular convenience stores like 7-Eleven and Dollar General, these gift cards will be offered in $25 and $50 denominations, allowing users to gift the DraftKings experience. This initiative is part of DraftKings' strategy to expand its retail presence and facilitate customer account funding, aligning with the company's growth in the digital sports entertainment sector.
DraftKings has secured a multi-year partnership with the Nashville Predators to become the official daily fantasy sports provider and sports betting operator. This collaboration coincides with the launch of DraftKings’ mobile sportsbook app in Tennessee. Predators fans will enjoy a deposit bonus of up to $1,000 upon signing up. DraftKings branding will be prominently featured at Bridgestone Arena during games and through digital content, enhancing fan engagement. The partnership aims to enrich the sports betting experience for audiences in Tennessee.
DraftKings Inc. (Nasdaq: DKNG) announced that CEO Jason Robins will speak at the Milken Institute’s 2020 Asia Summit on December 9, 2020, at 12:30 PM SGT (11:30 PM ET, December 8). The summit will be webcasted live, allowing investors to access the presentation via the company’s investor relations page. DraftKings is recognized as a leading digital sports entertainment and gaming company, engaging users through daily fantasy sports and regulated gaming across multiple jurisdictions.
DraftKings has partnered with the Mashantucket Pequot Tribal Nation to facilitate online sports betting in Connecticut, pending regulatory approvals. This multi-channel agreement will allow DraftKings to expand its presence in New England and become the official daily fantasy sports partner of Foxwoods Resort Casino. With mobile sports betting already operational in 10 states, this partnership aims to generate $175 million in new revenue for Connecticut over five years. The launch of daily fantasy sports is set for December 13, 2020.
DraftKings (Nasdaq: DKNG) announced that CEO Jason Robins will participate in the UBS Virtual TMT Conference on December 7, 2020, with his presentation scheduled for 1:55 PM ET. The conference will be available via live video and audio webcast, accessible through investors.draftkings.com. Founded in 2012, DraftKings is a leading digital sports entertainment and gaming company, providing services across various regulated markets.
DraftKings partners with the Detroit Pistons as their exclusive Official Daily Fantasy Sports Partner and Official Sports Betting and iGaming Partner. This deal includes access to team trademarks, branded signage, and prize opportunities for fans. As DraftKings prepares to launch in Michigan, the collaboration aims to enhance fan engagement. The company offers a free $200 bonus for new customers in Michigan, while the Pistons plan to leverage this partnership to strengthen community ties. The agreement marks a significant move into a new market for DraftKings.
DraftKings has been named the Official Sports Betting Partner for the boxing match between Mike Tyson and Roy Jones Jr. scheduled on November 28, 2020. The event will include betting options through DraftKings in several states and a free-to-play pool available nationwide. This collaboration allows DraftKings to enhance viewer engagement with exclusive sportsbook data and branding throughout the event. With significant celebrity involvement and a $49.99 pay-per-view price, this matchup aims to attract a wide audience.
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