DraftKings Inc. - DKNG STOCK NEWS

DraftKings Inc. (Nasdaq: DKNG) reported a strong third quarter of 2020, achieving revenue of $133 million, which is a 98% increase from $67 million in Q3 2019. Following a successful return of major sports, the company raised its 2020 pro forma revenue guidance to $540-$560 million and introduced a 2021 revenue guidance of $750-$850 million. The growth is attributed to innovative products, a 64% rise in monthly unique payers, and expansion into new states, including Illinois. DraftKings now operates in 10 states, representing 20% of the U.S. population.

DraftKings has formed an exclusive, multi-year partnership with Bryson DeChambeau, who is the sixth-ranked professional golfer, to enhance its brand in the gaming industry. This collaboration will make DeChambeau the face of DraftKings golf, starting with the 2020 Masters, where the DraftKings logo will appear on his cap. Golf has seen significant growth in betting, with the 2019 Masters among the top five events. DraftKings is also introducing a $100,000 free-to-play pool during the 2020 Masters, showcasing its innovative approach to fan engagement.

DraftKings announced the launch of its mobile sportsbook app in Tennessee on November 1, marking its entry into the ninth state for legal online sports betting. The app provides innovative promotions, betting types, and is tailored to local interests. With high anticipation for sports betting in Tennessee, a DraftKings study indicated that 82% of residents favor online wagering, with a strong interest specifically in DraftKings’ products. The company aims to leverage local sports enthusiasm, promising an engaging experience for Tennessee fans.

DraftKings Inc. has announced a multi-year sponsorship agreement with the University of Nevada, Las Vegas, granting the company naming rights to the Center for Gaming Innovation. This collaboration allows DraftKings to establish the DraftKings Gaming Innovation Studio at UNLV, enhancing access to local talent and fostering innovation in online gaming. The partnership aims to strengthen DraftKings’ ties with the Las Vegas community and promote advancements in gaming technology. The agreement comes after DraftKings’ establishment of a 300-person office in Las Vegas earlier this year.

DraftKings Inc. has renewed its partnership with MansionBet, a leading U.K. sportsbook, to continue powering its sportsbook and casino platforms. This long-term agreement includes a comprehensive suite of managed services such as compliance and fraud prevention. MansionBet aims to enhance its customer offerings, particularly in horse racing, by utilizing DraftKings' technology, including additional streaming options. DraftKings emphasizes its role in transforming fan engagement in sports through innovative solutions.

DraftKings Inc. (Nasdaq: DKNG) announced that CEO Jason Robins will participate in a keynote interview at the Global Gaming Expo (G2E) on October 28, 2020, at 11:15 AM ET. The event aims to highlight key insights and developments in the gaming industry. Attendees can register for the keynote on the G2E website or via DraftKings' investor relations site. DraftKings, established in 2012, offers a broad range of sports betting and fantasy sports services across various regulated markets in the U.S. and internationally.

DraftKings and Peermont Hotels, Gaming and Resorts announced the launch of PalaceBet, a mobile and online sportsbook in South Africa. Powered by DraftKings’ B2B sports betting technology, PalaceBet offers extensive sports markets, live betting, competitive pricing, and localized payment options. Peermont aims to leverage its casino expertise to enhance the online betting experience. This partnership positions DraftKings as a leader in the South African sports betting sector, aiming for international competitiveness and a diverse product offering.

DraftKings Inc. (Nasdaq: DKNG) will release its Q3 2020 results on November 13, 2020, prior to 8:30 AM EST. A conference call will be held at that time to discuss the results. The earnings press release and related materials will be accessible on the investors’ website. The audio webcast will remain available until December 13, 2020.

DraftKings (Nasdaq: DKNG) has signed a multi-year agreement with Turner Sports, becoming the exclusive sportsbook and daily fantasy sports provider for select Turner properties, excluding NBA programming. The partnership will feature DraftKings’ betting information and daily fantasy content across Turner Sports telecasts and Bleacher Report channels. Key features include custom segments, betting odds, and personalized alerts, enhancing engagement with sports fans. This collaboration aims to increase visibility and customer acquisition for DraftKings, leveraging Turner Sports' extensive audience reach.