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.
DraftKings has announced the launch of a new podcast titled “GoJo”, featuring Mike Golic Jr. and Brandon Newman. Set to debut on May 2, the daily podcast aims to engage sports fans with discussions on trending topics in sports and culture. It will air five days a week and be accessible on major podcast platforms like Apple Podcasts and Spotify. Golic Jr.'s partnership with DraftKings highlights the company’s strategy of collaborating with prominent figures in sports media, enhancing its portfolio of content offerings.
DraftKings Inc. (Nasdaq: DKNG) is set to release its first quarter 2022 results on May 6, 2022, before 8:30 AM EDT. A conference call will follow the release, allowing for a discussion of results. The earnings press release and supplementary materials will be available on DraftKings' investor relations website. The audio webcast and presentation will be accessible until June 14, 2022. DraftKings continues to operate as a digital sports entertainment and gaming company, providing sports betting and fantasy sports solutions across multiple jurisdictions.
DraftKings has partnered with baseball personality Jared Carrabis to introduce engaging baseball-centric podcasts, including the new show “Baseball is Dead”, starting April 7, 2022. This initiative aims to enhance the content portfolio for baseball fans, featuring commentary, interviews, and sports betting insights. DraftKings continues to expand its media offerings by collaborating with various content creators, fostering an interactive platform for sports enthusiasts. The move is part of DraftKings' strategy to deepen fan engagement in the MLB season.
DraftKings (NASDAQ: DKNG) and the Mashantucket Pequot Tribal Nation have announced a partnership to expand sports betting operations to Puerto Rico. This follows their successful launch of sports betting in Connecticut. The DraftKings retail sportsbook will be located at the Foxwoods El San Juan Casino, featuring modern facilities, including a large video wall and multiple betting kiosks, pending regulatory approvals. The initiative aims to cater to Puerto Rico’s vibrant sports culture while promoting responsible gaming practices, with DraftKings also planning to offer daily fantasy sports in the region.
DraftKings Marketplace has launched its first in-house Primetime NFT Series with the 2022 College Hoops Collection, coinciding with March's college basketball tournament. This initiative aims to enhance fan engagement and reward collectors. Those who collect all eight editions will receive a ninth commemorative NFT and access to future drops. Collectors can earn DK Dollars for gameplay across DraftKings' platform. The series marks a significant step in DraftKings' commitment to digital collectibles and follows previous Web3 initiatives, indicating a focus on integrating NFTs into their gaming ecosystem.
DraftKings (Nasdaq: DKNG) will enhance its media offerings by providing extensive coverage of the Men's College Basketball Tournament starting March 13, 2022. Fans can access analysis through DraftKings’ YouTube Channel and VSiN, featuring expert commentary on betting lines, real-time updates, and special programming. Notable shows include 'Line Drop: The Bracket,' offering insights from various sports personalities, and 'Tournament Betting Breakdown,' which will leverage data to guide fans in their bracket selections. This initiative aims to engage sports betting enthusiasts with unique content and improve DraftKings' market position.
DraftKings (Nasdaq: DKNG) announced that CFO Jason Park will participate in the BofA Sports Betting & Online Gaming Virtual Field Trip on March 10, 2022, at 1:00 PM ET. The event, which focuses on the sports betting and online gaming landscape, can be viewed live via registration on the conference website or DraftKings’ Investor Relations page. DraftKings, headquartered in Boston, is a leading digital sports entertainment and gaming company, offering fantasy sports, regulated gaming, and digital media across multiple jurisdictions.
DraftKings has partnered with Zero Hash to become a corporate validator on the Polygon blockchain, enhancing its Web3 efforts. This collaboration enables DraftKings to stake digital assets, thereby optimizing working capital and liquidity while contributing to Polygon's governance. The move is part of DraftKings' strategy to build a decentralized infrastructure, emphasizing their commitment to Web3 initiatives. Overall, this partnership positions DraftKings to play a key role in the growing Proof of Stake ecosystem, which has seen significant institutional interest.
DraftKings Reports Strong Q4 2021 Results with 47% Revenue Increase
On February 18, 2022, DraftKings (Nasdaq: DKNG) reported a remarkable 47% year-over-year revenue increase, achieving $473 million in Q4 2021, surpassing guidance by 8%. Full-year revenue grew 101% from 2020. Key metrics showed a 32% rise in Monthly Unique Payers and a 19% growth in Average Revenue Per Monthly Unique Payer. The company raised its 2022 revenue guidance to $1.85 billion to $2.0 billion, reflecting anticipated growth from new state launches, despite expecting an Adjusted EBITDA loss between $825 million and $925 million.
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