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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 announced the pricing of its public offering of 32 million shares of Class A common stock at $52.00 per share, totaling $1.664 billion. The offering consists of 16 million shares sold by DraftKings and 16 million by certain selling stockholders. DraftKings will not receive proceeds from the latter. Additionally, underwriters have a 30-day option to purchase up to 4.8 million additional shares. The funds are intended for general corporate purposes. Credit Suisse and Goldman Sachs act as lead underwriters for this offering.

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DraftKings announced a public offering of 32 million shares of its Class A common stock, split equally between the company and certain selling stockholders. Additionally, underwriters may purchase up to 4.8 million additional shares within 30 days. DraftKings will not receive proceeds from the selling stockholders' shares. Proceeds from DraftKings' shares will support general corporate purposes. The offering's completion is subject to market conditions. Credit Suisse Securities and Goldman Sachs are the joint book-running managers for this offering.

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DraftKings Inc. (Nasdaq: DKNG) has partnered with the Philadelphia Eagles as their Official Daily Fantasy Sports Partner and Official Sports Betting Partner. This multi-year agreement includes exclusive naming rights to the DraftKings Field Club at Lincoln Financial Field, offering premium fan experiences. DraftKings' branding will be featured across various Eagles media and events, enhancing visibility. Additionally, DraftKings will launch the Eagles Stat Showdown, a free-to-play game with weekly prizes for fans. This partnership aims to elevate the in-game experience for Eagles fans.

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DraftKings has announced a partnership with the Colorado Rockies, becoming their Official Daily Fantasy Operator and first Official Sports Betting Operator. The agreement includes branding rights and a digital content collaboration. Additionally, DraftKings will open a retail sportsbook at Mardi Gras Casino in Black Hawk, Colorado, on September 25, 2020, featuring over 40 TVs, self-service kiosks, and a full-service bar. These developments mark a significant expansion of DraftKings' presence in Colorado, enhancing engagement with local customers.

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DraftKings (Nasdaq: DKNG) announced the appointment of Jocelyn Moore and Valerie Mosley as new board directors, effective September 23, 2020. This expansion adds two seats, increasing the board to 15 members. Moore, with extensive experience in communications from her tenure at the NFL, and Mosley, a former executive at Wellington Management, are expected to bring innovative perspectives to the board. Their appointments align with DraftKings' commitment to growth and social responsibility, further supported by Michael Jordan serving as a Special Advisor.

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DraftKings has partnered with the New York Giants in a multi-year agreement, becoming the team's official sports betting, iGaming, and daily fantasy operator. This collaboration allows DraftKings to utilize official Giants branding and create a virtual SportsLounge for unique fan interactions. The Giants, currently the top 40 most bet franchises on DraftKings, will also feature a Free-to-Play Pick 'Em game. The partnership completes their commitment to enhancing customer experiences and will leverage Giants' media platforms for advertising.

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DraftKings Inc. (Nasdaq: DKNG) announced a multi-year partnership with ESPN, becoming a co-exclusive sportsbook link-out provider and the exclusive daily fantasy sports provider for the media giant. This collaboration enables DraftKings to integrate its products across ESPN's digital platforms, potentially increasing visibility and user engagement. The agreement also includes promotional segments on ESPN studio shows. DraftKings aims to leverage this partnership to enhance mainstream adoption of its sports betting products.

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DraftKings has appointed Erik Bradbury as Chief Accounting Officer effective September 10, 2020. With over 16 years in corporate accounting, Bradbury previously served as a Partner at Ernst & Young and as a Professional Accounting Fellow at Financial Executives International. His expertise in U.S. GAAP, IFRS, and SEC reporting is expected to strengthen DraftKings' accounting team, aiding its growth. Bradbury will oversee crucial functions, including SEC reporting and operational accounting, contributing to the company’s financial integrity as it continues to expand.

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DraftKings (Nasdaq: DKNG) announced CEO Jason Robins will speak at three upcoming investor conferences. The SBC Summit is scheduled for September 8, 2020, at 4:00 AM ET, followed by the Goldman Sachs SPACs conference on September 9, 2020, at 3:35 PM ET, and the Bank of America Gaming and Lodging Conference on September 17, 2020, at 11:20 AM ET. Presentations will be live-streamed on investors.draftkings.com.

DraftKings is a leading digital sports entertainment and gaming company, offering a wide range of products in regulated gaming markets.

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DraftKings Inc. (Nasdaq: DKNG) has launched its second retail sportsbook, DraftKings Sportsbook at Manchester, in collaboration with the New Hampshire Lottery and South Side Tavern. Located in a popular bar and restaurant, this facility includes numerous betting kiosks and a large viewing area for sports events. The $2.5 million renovation includes new safety measures against COVID-19. This expansion follows the successful mobile betting launch in New Hampshire in December 2019, enhancing DraftKings' footprint in the state as a premier sports betting provider.

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FAQ

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

The current stock price of DraftKings (DKNG) is $40.35 as of December 20, 2024.

What is the market cap of DraftKings (DKNG)?

The market cap of DraftKings (DKNG) is approximately 19.3B.

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

19.26B
474.98M
2.42%
77.08%
4.63%
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