DraftKings Inc. - DKNG STOCK NEWS

DraftKings announced it will release its first quarter 2023 results after market close on May 4, 2023. An investor conference call is scheduled for the following morning, May 5, 2023, at 8:30 a.m. ET. During this call, management will discuss the company's performance and share insights regarding its financial results. DraftKings operates as a key player in digital sports entertainment, providing various products including daily fantasy sports and regulated gaming in multiple states and Canada. The company emphasizes responsible gaming and corporate social responsibility in its operations.

DraftKings commemorates the 20th anniversary of Problem Gambling Awareness Month by enhancing its commitment to responsible gaming through financial support to state councils. The company has pledged over $1.5 million to promote responsible gaming initiatives across participating states, providing annual grants of $15,000 for three years. This funding allows councils to expand services and educational opportunities, including training for over 200 counselors. The collaboration aims to foster innovation and inclusivity in addressing gaming-related issues, particularly within diverse communities. DraftKings' partnerships are designed to create a positive social impact while ensuring its players engage in safe and enjoyable gaming.

Paysafe (NYSE: PSFE) has expanded into the Massachusetts mobile sports betting market, marking its entry as the 26th U.S. iGaming jurisdiction. The market is projected to generate over $295 million in first-year revenue. Paysafe enhances payment solutions for various mobile sportsbooks, enabling secure deposits via debit cards and alternative payment methods. This move strengthens its long-term partnerships with DraftKings (NASDAQ: DKNG) and Caesars Entertainment (NASDAQ: CZR), fostering growth in Massachusetts's emerging sports betting scene. The company aims to aid operators in player acquisition and retention.

DraftKings Inc. (Nasdaq: DKNG) has launched its first standalone horse racing app, DK Horse, in twelve states, ahead of the Kentucky Derby on May 6, 2023. This app allows customers to engage in pari-mutuel wagering on horse racing and stream race videos. The launch is part of a multi-year agreement with Churchill Downs Incorporated (Nasdaq: CHDN), leveraging their expertise in horse racing. While customers need to create separate accounts for DK Horse, DraftKings aims to enhance user experience with features like betting guides. The company is committed to responsible gaming practices as part of the American Gaming Association initiative.

DraftKings Inc. (Nasdaq: DKNG) has announced that its co-founder and CEO, Jason Robins, will participate in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 14, 2023, at 1:20 PM ET. The event will include a fireside chat and will be accessible through both the conference website and DraftKings' Investor Relations page. Founded in 2012, DraftKings is a leading digital sports entertainment and gaming company, offering daily fantasy sports and sports betting in 23 U.S. states and Ontario, Canada. The company also operates iGaming in five states and is committed to responsible gaming and corporate social responsibility.

DraftKings Inc. (Nasdaq: DKNG) announced that CEO Jason Robins will speak at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 12:50 PM ET. The event will feature a fireside chat format and interested parties can access the live audio through the conference's website or DraftKings' Investor Relations page. DraftKings is recognized as a leading digital sports entertainment and gaming company in the U.S., operating in 22 states and Ontario, Canada, with offerings that include daily fantasy sports and regulated gaming. The company promotes responsible gaming and corporate social responsibility as core mission elements.

DraftKings Inc. (Nasdaq: DKNG) is set to launch its online sportsbook in Massachusetts on March 10, 2023, pending regulatory approvals. This will mark the state as the 21st in the U.S. to host DraftKings' betting platform. Eligible customers can bet on various sports, including local teams like the Boston Bruins and New England Patriots. The launch will feature exclusive promotions, same-game parlays, and a 'Bet Local' ad campaign with local sports icons. CEO Jason Robins emphasized the importance of this milestone for DraftKings as it expands its presence in the Massachusetts market.

DraftKings reported significant financial growth in Q4 2022, achieving $855 million in revenue, marking an 81% increase from the previous year. The company anticipates ending FY2023 with over $700 million in cash and generating positive Adjusted EBITDA as it optimizes expenses and expands its sports betting operations. Monthly Unique Payers grew to 2.6 million, a 31% rise year-over-year. DraftKings has raised its full-year 2023 revenue guidance to a range of $2.85 billion to $3.05 billion, reflecting a year-over-year growth of 27% to 36%. Adjusted EBITDA guidance was also improved, expecting losses of $350 million to $450 million.