DraftKings Inc. - DKNG STOCK NEWS

DraftKings (DKNG: NASDAQ) has launched its standalone Casino app in Pennsylvania, expanding its digital gaming footprint following a successful debut in New Jersey. The app offers exclusive games and classic favorites like Blackjack and Roulette, all designed to enhance the gaming experience. The Casino app, which was previously part of the DraftKings Sportsbook app, will also feature a custom Live Dealer Studio operating 24/7. DraftKings is dedicated to responsible gaming and is actively pursuing the launch of its Casino product in additional states.

DraftKings (Nasdaq: DKNG) announced it will voluntarily delist its private placement warrants due to low trading volume and high maintenance costs. The delisting will become effective ten days after filing a Form 25 with the SEC, expected on July 20, 2020. The warrants, previously listed under DKNGW, will now be traded as DKNGZ. This action does not affect the trading of DraftKings' Class A common stock. The company remains operational across multiple regulated markets in the U.S. and internationally, offering sports betting and daily fantasy sports.

DraftKings (DKNG) has partnered with Twin River Worldwide Holdings to open a temporary retail sportsbook at Mardi Gras Casino in Black Hawk, Colorado, starting July 10, 2020. This venue will feature eight betting kiosks, a cashier window, and large screen TVs. It marks the seventh DraftKings retail location, expanding its footprint in the sports betting market. A permanent sportsbook is under construction. The new facility allows legal betting on major U.S. sports, enhancing the gaming options for Colorado residents amidst COVID-19 safety measures.

DraftKings (Nasdaq: DKNG) partners with Major League Eating for the 2020 Nathan’s Famous Fourth of July International Hot Dog Eating Contest, adapting the event to ensure health safety amid the pandemic. This year, the contest will not be held in public but will be broadcast on ESPN. DraftKings offers a free-to-play pool with $25,000 in prizes and betting options for customers in Colorado, New Jersey, and New Hampshire. The event highlights American tradition while supporting food banks and honoring essential workers.

DraftKings (DKNG) launches its standalone Casino app in New Jersey, enhancing its gaming portfolio. The app features unique games exclusive to DraftKings, along with improved classics like Blackjack and Roulette. According to a DraftKings study, 70% of new Casino customers engage first with DraftKings-branded games. This launch signifies a strategic move to broaden their customer base while planning expansion into more states. The app also incorporates offerings from third-party providers and operates a custom 24/7 live studio, showcasing DraftKings' commitment to innovation and responsible gaming practices.

DraftKings (Nasdaq: DKNG) has announced the upsizing and pricing of its public offering from 33 million to 40 million shares of Class A common stock. DraftKings will sell 16 million shares while certain selling stockholders will sell 24 million shares at a price of $40.00 per share, totaling $1.6 billion. Notably, DraftKings will not receive proceeds from the selling stockholders' shares. The intended use of net proceeds from the offering is for general corporate purposes, with an additional option for underwriters to purchase 6 million more shares.

DraftKings (Nasdaq: DKNG) announced a public offering of 33 million shares of its Class A common stock, with 14 million shares from the company and 19 million from selling stockholders. Underwriters may purchase an additional 4.95 million shares. DraftKings will not receive proceeds from the selling stockholders. The company plans to use its net proceeds for general corporate purposes. The offering is subject to market conditions, and details are available in the preliminary prospectus filed with the SEC.

DraftKings (NASDAQ: DKNG) has partnered with Bay Mills Resort & Casino to expand its market access into Michigan, pending necessary licenses and approvals. This partnership will enable the launch of the DraftKings Sportsbook mobile app and a retail betting location at the Bay Mills Casino. A consumer study indicates significant interest in online sports betting among Michiganders, with over a third having placed legal bets elsewhere. DraftKings aims to provide an innovative sports betting experience as sports resume across the U.S.

On May 27, 2020, DraftKings (Nasdaq: DKNG) announced the redemption of all outstanding public warrants for its Class A common stock, set at a redemption price of $0.01 per warrant. This decision follows the fulfillment of a price performance clause, with the stock closing at least $18.00 for 20 trading days within a 30-day period as of May 21, 2020. Unexercised warrants post-June 26, 2020, will become void. Registered holders were notified, and the underlying shares are registered under the Securities Act of 1933.