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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 opened New Hampshire's first retail sportsbook at The Brook, enhancing the state's sports betting landscape with new safety measures. This launch coincides with the return of major U.S. sports and marks DraftKings' eighth retail location nationwide. The sportsbook features modern amenities, including betting kiosks and video walls, within a dedicated entertainment space. New Hampshire Lottery officials report over 42,000 registered users for mobile betting since its launch in December 2019, contributing over $65 million in sports betting revenue.
DraftKings (Nasdaq: DKNG) has launched its sports betting app and retail location, DraftKings at Casino Queen, in Illinois. Customers can create accounts on-site or via the app, enabling them to access mobile sports betting statewide. The app offers various betting options on major events along with exclusive promotional offers for Illinois users. The retail sportsbook aims to enhance the betting experience in the St. Louis community, combining two popular brands. DraftKings continues its expansion in regulated markets, emphasizing innovation and customer experience.
DraftKings (Nasdaq: DKNG) announced on August 3, 2020, the expansion of its daily fantasy sports (DFS) offerings to include Best Ball, a new game variant featuring snake drafts. A $3 million marquee tournament will precede the 2020 NFL season, with a $1 million top prize. The Best Ball format simplifies roster management for customers and enhances engagement as sports leagues return. According to a consumer study, 92% of participants expressed high interest in this format. Best Ball will initially focus on fantasy football and later expand to basketball and hockey.
The PGA TOUR and DraftKings have expanded their partnership, designating DraftKings as the first 'Official Betting Operator of the PGA TOUR.' This new agreement enhances their original 2019 deal where DraftKings was the TOUR’s first 'Official Daily Fantasy Game.' DraftKings will now have rights to PGA TOUR trademarks, advertising within TOUR media, and content rights for betting programming. This collaboration aims to enhance fan engagement and capitalize on the growing popularity of golf betting, with DraftKings currently ranking golf as its fourth most popular sport for betting.
DraftKings (Nasdaq: DKNG) announced a partnership with Kambi Group plc to transition from Kambi's back-end services to the SBTech platform. The migration is set to be completed by September 30, 2021, allowing DraftKings to utilize its technology beforehand. DraftKings President Paul Liberman acknowledged Kambi's role in their initial success in New Jersey. The agreement includes measures to protect Kambi's intellectual property during the transition, ensuring a smooth shift for both companies.
DraftKings (Nasdaq: DKNG) announced the rebranding of Casino Queen as “DraftKings at Casino Queen,” enhancing its retail presence in Illinois. This partnership aims to integrate DraftKings' leading sportsbook app with a physical location in East St. Louis, pending necessary approvals. Executives from both companies expressed excitement about transforming the sports betting experience and contributing to Illinois' sports culture. DraftKings is a top U.S.-based integrated sports betting operator, offering a comprehensive portfolio in regulated markets.
DraftKings (Nasdaq: DKNG) will release its second quarter 2020 results on August 14, 2020, prior to 8:30 AM EDT. A conference call to discuss these results will also occur at 8:30 AM EDT on the same day. The earnings press release and materials will be accessible at investors.draftkings.com.
DraftKings (Nasdaq: DKNG) conducted a national survey revealing that 78% of American sports fans are ready to adapt their expectations for a return to sports amid the COVID-19 pandemic. The survey, involving over 1,000 fans, shows 56% are taking virus developments seriously, and more than a quarter have started following new sports. Anticipation runs high for the NBA (64%) and MLB (48%) to resume. However, 20% of fans won't attend live events until a cure is found. Most fans plan to continue watching games from home, with over half favoring traditional TV.
DraftKings (Nasdaq: DKNG) has entered into a partnership with the Premier Lacrosse League (PLL), becoming the exclusive Official Sports Betting Partner for the league's upcoming Championship Series from July 25 to August 9. The deal includes DraftKings being the sole Regulated Gaming Sponsor of the 2020 Summer Tournament and presenting sponsor of PLL Analytics on broadcasts. DraftKings will develop a proprietary lacrosse analytics platform to assist fans in making informed bets. The partnership also grants DraftKings access to PLL branding and in-stadium marketing rights.
DraftKings has launched its Casino product suite in partnership with Hollywood Casino at Charlestown Races in West Virginia. This launch includes a standalone mobile application for DraftKings Casino and access via the DraftKings Sportsbook app, featuring popular games such as slot machines, Blackjack, and Roulette. West Virginia joins New Jersey and Pennsylvania as states where DraftKings Casino is available. DraftKings emphasizes responsible gaming, holding a Platinum membership with the National Council on Problem Gambling.
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