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DKNG

DKNG US Stock
$54.55
Open: $53.1 High: $56.52 Low: $49.68 Close: $54.566
Range: 2021-01-25 - 2021-01-26
Volume: 30,924,878
Market: Open
Powered by Finage Stock APIDelayed data
DKNG
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DKNG News
Latest news about the DKNG
  • Steve Case on the innovation economy in 2021

    Revolution CEO (and former AOL CEO) Steve Case joins Yahoo Finance Live to discuss the platform’s “Rise of the Rest” 2021 playbook — which aims to spotlight promising startups outside of the coastal tech hubs — as well as the current state of big tech, his thoughts on Section 230, and more. 

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  • DraftKings Stock Surges On Key Goldman Sachs Upgrade, Is It A Buy Right Now?

    DraftKings is one of the top IPO stocks to watch, as gambling legalization gains steam. Here is what the fundamentals and technical analysis say about buying DKNG stock now.

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  • DraftKings (DKNG) Unveils Sportsbook Platform in Virginia

    DraftKings (DKNG) launches its mobile Sportsbook app in Virginia, bringing its digital sports-betting app to a total of 12 states in the United States.

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  • DraftKings to Release Fourth Quarter and Year-End 2020 Results February 26

    BOSTON, Jan. 26, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (the “Company”, “DraftKings”) today announced that it will release its fourth quarter and year-end 2020 results prior to 8:30AM EDT on February 26, 2021. At 8:30AM EDT on the same day, DraftKings will host a conference call to discuss the results. The Company’s earnings press release and related materials will be available at investors.draftkings.com. To listen to the audio webcast and live Q&A, please visit DraftKings’ investor relations website at investors.draftkings.com. The audio webcast and accompanying presentation will be available on the Company’s investor relations website until 11:59PM EDT on March 14, 2021. About DraftKings DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR. Contacts Media:Media@draftkings.com@DraftKingsNewsInvestors:Investors@draftkings.com

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  • DraftKings Announces Virginia Launch Of Mobile Sports Betting: What's Next For The Sector?

    Investors are placing big bets on their favored sports betting operators as more and more states move to allow online gambling. What Happened: Just in time for the Super Bowl, DraftKings Inc. (NASDAQ: DKNG) announced the launch of its online sports betting app in Virginia on Sunday. The move into Virginia marks the 12th state where DraftKings is now available, following a number of state markets that it entered over the last six months as it tries to catch up to competitor Penn National Gaming Inc. (NASDAQ: PENN). Penn has a footprint in 19 states through its properties and recently teamed up with Dave Portnoy to launch its Barstool Sportsbook Mobile app. Why It Matters: While DraftKings and Penn race to launch their competing apps across the U.S., there’s only so far they can go until more states legalize online betting. The federal government now allows states to make their own rules when it comes to gambling, and so far more than a few have remained resistant. The four most populous states — California, Florida, New York and Texas — have yet to pass legislation to allow for online betting and casinos. These four states have a combined population of over 100 million, or just under one-third of the total U.S. population. The hurdles the governments in each state have to pass online gambling vary, but they have one thing in common that increases the likelihood of a serious look at legalizing betting apps: a desperate need for tax revenue following the economic issues the coronavirus pandemic will leave behind. Here's a look at the sports betting environment in the country's four largest states by population. California: The most populous state has so far been resistant to any form of legalized online betting. In California, all of the state’s casinos are owned by Indigenous tribes and there has been little support to change this. In December, tribal leaders collected enough signatures and met a key submission deadline to add a sports betting measure onto the 2022 ballot. It looks as though, if passed, online gambling would remain monopolized by Native Americans in the state and make it difficult for DraftKings or Penn to launch there. Florida: In-person gambling in the Sunshine State is legal, but online betting remains illegal — at least technically for now. The wording that bans online gambling was written into law in 2013 when former Lt. Gov. Jennifer Carroll was accused, and later acquitted, of running a gambling scheme through a charity organization in internet cafes in the state. Some of that wording has since been clarified or removed, and Florida looks likely to allow online gambling in the future. New York: New York Gov. Andrew Cuomo recently proposed to legalize online sports betting. His plan has come under fire from some lawmakers in regards to its approach. Cuomo’s plan is to allow providers to launch in the states through a bidding war, which would make the process for prospective operators like DraftKings and Penn Gaming highly competitive. Although these issues are still being discussed by lawmakers and the details are being ironed out, legalized gambling in the state looks to be all but a sure thing in 2021. Texas: The Lone Star State has two bills on the table to legalize gambling. One bill, said to have the best chance of passing, was introduced by Republican state Rep. Harold Dutton. Although considered to have a conservative-leaning population, sports are a big deal in the state, and with only two brick-and-mortar casinos, Texans have few options when it comes to any form of gambling. The fate of sports betting looks set to be decided by May 31, which is the deadline for the legislative process in the state to take place. What’s Next: State leaders are under pressure to find funds to cover budget shortfalls as a result of the COVID-19 recession. Taxes that can be collected through online gambling and sports betting must seem like a pandemic-friendly and relatively easy way to recoup government funds that have been spent to help individuals and businesses stay afloat through the pandemic. Outside the U.S., Ontario, Canada is set to legalize online sports betting this year with a bill that has huge bipartisan support. Bill C-13 would change the criminal code to allow Ontarians to participate in online sports betting and give operators such as DraftKings and Penn Gaming the opportunity to move into the Canadian space. If Ontario, Texas and New York all moved to legalize, the online sports betting market could increase by $30 billion. Photo courtesy of DraftKings. See more from BenzingaClick here for options trades from BenzingaPalantir To Debut New Software, Apps At Inaugural Demo DayBlackberry Shares Are Soaring To Start 2021, As Investors Eye Catalysts© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Atlantic City’s Borgata sees record online gambling growth amid pandemic

    Yahoo Finance’s Alexis Christoforous and Melonie Johnson, President of Borgata Hotel Casino & Spa, discuss the slate of the casino industry amid the coronavirus pandemic.

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  • 3 Sports Betting Stocks Poised for a Bull Run

    Investors don't yet fully appreciate just how big the sports wagering market could be ... for organizations that handle this opportunity the right way.

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  • DraftKings Rolls Out Online Sportsbook In Virginia Ahead of Super Bowl

    DraftKings on Jan. 24 announced the launch of its mobile and online sportsbook in Virginia, which now represents the 12th state in the US where the online sports betting and gaming company’s product is available. The launch came ahead of the Super Bowl, which is scheduled to begin in the first week of February. DraftKings (DKNG) rolled out its online and mobile sportsbook in the state of Michigan on Jan. 22. States like Virginia and Michigan have already legalized online sports betting and many other states in the US are also looking at doing the same. Earlier this month, the Governor of New York, Andrew Cuomo, indicated his support to legalize online sports betting and said, “New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.” The company has yet to announce its 4Q results. At its most recent 3Q earnings release, DraftKings raised its FY20 revenue guidance from a range of $500-$540 million to a range of $540-$560 million. (See DKNG stock analysis on TipRanks) DraftKings’ shares were down by 1.9% and closed at $52.53 on Jan. 22. On Jan. 20, Morgan Stanley analyst Thomas Allen upgraded the stock from Hold to Buy and raised the price target from $39 to $60. Allen is bullish on the stock citing “impressive sports betting and iGaming trends.” “We also expect DKNG to start to talk about profitability in NJ [New Jersey], as FanDuel did, countering the bear thesis that the industry will never be profitable,” Allen wrote in a note to investors. “Bringing this all together, we expect Street 2025e EBITDA to rise from $434m today closer to our new $1B forecast (up from $761m). With us still forecasting US sports betting revenue/adult at a discount to Australia/UK, potential for greater share concentration, and a few slower growth peers trading at >30x, further upside looks attainable with our bull case now $179,” the analyst added. Wall Street analysts are cautiously optimistic about the stock and the consensus is a Moderate Buy with 13 analysts recommending a Buy, 5 analysts suggesting a Hold, and one analyst recommending a Sell. The average price target of $63.89 implies 21.6% upside potential to current levels. Shares have jumped by 22.2% in the past three months. Related News: Wabtec Secures Order From Singapore Mass Transit IBM’s 4Q Revenues Of $20.4B Disappoint; Shares Fall 7.3% After Hours United Airlines Posts Wider-Than-Feared Loss of $1.9B In 4Q; Street Says Hold More recent articles from Smarter Analyst: Wabtec Secures Order From Singapore Mass Transit Pfizer-BioNTech’s Covid-19 Vaccine Approved By Australia’s Regulator Regions Financial’s 4Q Profit Jumps 61% New Oriental Education Sinks 7.5% On 3Q Sales Outlook; Street Says Buy

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  • DraftKings Launches Mobile Sports Betting in Virginia

    Arrival of Top-Rated Digital Sportsbook in Old Dominion Marks Company’s Twelfth State LaunchBOSTON, Jan. 24, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced the launch of DraftKings Sportsbook in Virginia, marking the 12th state in which the top rated mobile and online sportsbook is available. Customers in Virginia will now be able to place bets on a number of markets across professional and collegiate sports using the DraftKings made-in-America digital sportsbook app. “Just in time for Super Bowl LV, we are thrilled to bring the DraftKings sports betting experience to Virginia with an abundance of betting options for fans,” said Jason Robins, co-founder and CEO, DraftKings. “With our customer-first approach, we hope to be the sportsbook of choice for Virginians who enjoy having skin in the game.” Ahead of Super Bowl LV, DraftKings is offering all customers a Double Your Money opportunity on any team to score a touchdown. Beyond Super Bowl LV, the cutting-edge mobile technology of DraftKings Sportsbook will provide sports bettors in the Commonwealth of Virginia the opportunity to bet on more than 250 unique leagues including popular professional sports: baseball, football, golf, hockey, boxing, soccer, tennis, motorsports and basketball. Collegiate sports are also available, with the exception of in-state college teams and college prop bets. DraftKings Sportsbook technology keeps consumer information safe and secure and provides built-in responsible gaming measures like time and deposit limits. A consumer research study by DraftKings indicated that Virginia sports fans are most likely to bet on the NFL, followed by the NBA and college football. That same study found the Washington Football Team and the Dallas Cowboys are the two most favored NFL teams in Virginia, while the LA Lakers, Chicago Bulls, and Washington Wizards are the most popular NBA teams. Prior to Sunday’s NFL Conference Championship games, DraftKings is offering all customers an additional Double Your Money opportunity by betting on any of the four teams playing to score a touchdown. DraftKings’ sportsbook and daily fantasy products are available via iOS and Android here. About DraftKings DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR. FORWARD-LOOKING STATEMENTS Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Media Contact:media@draftkings.com

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  • DraftKings (DKNG) Dips More Than Broader Markets: What You Should Know

    DraftKings (DKNG) closed the most recent trading day at $52.53, moving -1.92% from the previous trading session.

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  • Golden Nugget Online Gaming Stock May See $20 Before $40

    Houston, Texas-based Golden Nugget Online Gaming (NASDAQ:GNOG) stock has been hot since November. In the past three months, GNOG stock has gone up about 60% and is currently hovering around $21. Source: NYCStock / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading Tips According to recent industry metrics, “The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023. The current size of the market is almost 59 billion U.S. dollars, meaning the size is forecast to double in the upcoming years.” As a result of such projected growth, GNOG stock has received considerable trader interest. The investment community became familiar with the company in June 2020, when Landcadia Holdings II, a special purpose acquisition company (SPAC), announced it would be merging with Golden Nugget Online Gaming, a privately held company at the time. It was set up by Tilman Feritta, the billionaire businessman who also owns several restaurants and the Houston Rockets. Since then, the reverse-merger has finalized, and early investors have been thrilled with GNOG stock. The next several weeks are likely to be choppy as the company reports new quarterly earnings. Therefore, you may want to hold off committing new capital until you can analyze the results. Long-term investors, however, may consider buying the dip in GNOG stock. Here’s why. How Recent Earnings Came The pandemic provided the tailwinds for the online gaming industry. The Roundhill Sports Betting & iGaming ETF (NYSEARCA:BETZ), for instance, also started trading in June 2020. The fund enables investors to roll the dice on the industry and is up about 80% in the past six months. GNOG stock is also a holding of this exchange-traded fund (ETF). 7 Great Sub-$20 Stocks to Buy After Inauguration Day Several other names included in BETZ that InvestorPlace readers would recognize are DraftKings (NASDAQ:DKNG), Flutter Entertainment (OTCMKTS:PDYPY), Penn National Gaming (NASDAQ:PENN) and William Hill (OTCMKTS:WIMHY). In late October, GNOG stock released Q3 earnings. Net revenue was $25.9 million, up 92% year-over-year (YoY). Operating income was $8.2 million and also increased 92% YoY. President Thomas Winter cited, “Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis. Based on our October revenues, we believe that we could generate over $100 million of Gross Gaming Revenue in New Jersey this year.” Wall Street saw his words as indication that the company would not shy away from developing the company further. Analysts are hopeful about the potential of the business to expand well beyond New Jersey. GNOG is also looking at creating a mobile sports-betting app. This would likely increase revenue substantially, as it would allow players to bet on the move, especially as people spend more time on their phones than on the computer these days. Following the results, investors put their faith in GNOG stock, which has since gone from about $12 to a record high of $27.18 on Dec. 28. However, I believe analysts need to see more positive news in the next earnings report before another leg up in the shares can begin. The Bottom Line on GNOG Stock There’s still a cloud over businesses that have gone public through a reverse merger with blank check companies (or SPACs). The Street debates whether they will be able to have sustained operations as well as have full transparency in dealings. Therefore, potential investors in SPACs should always conduct proper due diligence. Fortunately for shareholders in GNOG stock, the group has been able to generate revenue, giving more faith to the Street. However, it will likely be a bumpy ride for the shares in the midst of the earnings season. Considering how far the stock has moved in a matter months, some short-term profit taking is likely. Then the shares will possibly trade sideways for several weeks. Yet if you can look past the short term, I think the business could do well in the coming quarters. As a long-term play, I’d say GNOG stock is definitely one to watch. Any decline under $20 would improve the margin of safety for buy-and-hold investors. Finally, if you are tempted by the “SPAC-tacular” increase in prices but nervous about committing capital to GNOG stock at this point, then you could also consider an ETF that focuses in the SPAC space. Examples include the Defiance Next Gen SPAC Derived ETF (NYSEARCA:SPAK) and the SPAC and New Issue ETF (NYSEARCA:SPCX). On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Golden Nugget Online Gaming Stock May See $20 Before $40 appeared first on InvestorPlace.

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  • Sports Gambling Stocks, Such as DraftKings, Drop Despite Michigan Legalization

    As more and more states legalize internet sports betting, the moves by each state have had less of an impact on the market.

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  • Michigan legalizes sports betting — the state could generate $8 billion a year in sports bets, according to one analyst

    On Friday, Michigan will become the 15th state to accept legal online wagers on sports after getting authorization from the Michigan Gaming Control Board. “Michigan residents love sports and, judging by inquiries we’ve received, eagerly anticipate using mobile devices to place bets through the commercial and tribal casinos,” executive director of the gaming board Richard S. Kalm said in a statement. “Online gaming and sports betting will provide the casinos with new ways to engage with customers while the state and local communities will benefit from taxes and payments on wagering revenue,” he added.

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  • Is MGM Stock A Buy As Covid Vaccinations, Sports Betting Move Ahead?

    MGM Resorts has rebounded on hopes that Covid vaccines will revive casinos. But is MGM stock a buy now? Here’s what MGM earnings and the chart show.

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  • Is Penn Stock A Buy Right Now As More States OK Gambling?

    Penn National Gaming is among the top-rated gambling stocks as more states allow sports betting and online wagering.

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  • SPAC Rush Leads Active ETF to Go All In on Blank-Check Companies

    (Bloomberg) -- The world’s first actively managed exchange-traded fund that invests in blank-check companies is doubling down on the red-hot SPAC market at the expense of its other strategy, merger arbitrage.The Accelerate Arbitrage Fund was launched in April by Julian Klymochko, the founder and chief executive of Calgary-based Accelerate Financial Technologies. The firm invests in special purpose acquisition companies, or SPACs, before they’ve announced deals, and also incorporates merger arbitrage, which aims to capitalize on the spread between a target’s stock price and the offer price before a deal closes.SPAC investing has become “so lucrative,” according to Klymochko, that the Arbitrage fund has curbed its exposure to merger arbitrage in favor of SPACs, which it now holds 150 of. “It’s real hard to get excited about merger arbitrage these days,” Klymochko said.The ETF, which trades on the Toronto Stock Exchange, has returned about 42% since its April 7 launch compared to an 8.9% gain for the S&P Merger Arbitrage Total Return Index over the same period. The Defiance NextGen SPAC Derived ETF, ticker SPAK, which debuted on the New York Stock Exchange in October has returned about 17% since its launch.Known as blank-check companies, SPACs raise money from investors and then look to acquire another business, usually a private one. A record 237 SPACs debuted on U.S. exchanges in 2020, raising nearly $79 billion, and at least 54 have already begun trading this year.Examples of high-profile SPAC deals include gambling company DraftKings Inc., which went public through a reverse merger with Diamond Eagle Acquisition Corp. in April, and electric-vehicle maker Nikola Corp., which merged with VectoIQ Acquisition Corp. in June.See more: SPACs Joining Red-Hot IPO ETFs May Extend Category’s BreakoutThe fund’s launch was aided by a shift in Canadian security regulations, which allowed mutual funds and ETFs to use complex liquid alternative strategies that were previously limited to high-net-worth and institutional investors.SPAC listings could slow to a couple a week versus dozens per day, though the wave isn’t over, Matt Waddell, a New York-based analyst at United First Partners, told Bloomberg. Quality and maturity of companies may become more scrutinized as the SPAC market develops, he added.Downside RiskIn cases where traditional mergers and acquisitions fall through, there can be “material downside risk” of about 25% to the investment, whereas a SPAC can be redeemed at a set net asset value plus accrued interest if it’s unable to close a deal, Klymochko said.For now, Klymochko isn’t keen on holding SPACs post-deal, such as DraftKings. The fund’s strategy is to get a piece of the IPO, or to capture upside optionality if a SPAC announces a deal. He is eyeing soon-to-be listings including John Malone’s Liberty Media SPAC, Liberty Media Acquisition Corp., and the fund recently added a “very small allocation” of SoftBank Group Corp.’s SPAC, SVF Investment Corp., which began trading earlier this month.Accelerate Financial declined to give its assets under management, though it said the firm’s AUM has grown over 1,100% year-over-year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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  • DraftKings' (DKNG) Upcoming Launch in Michigan to Aid Expansion

    DraftKings (DKNG) to extend footprint in the sports-betting space with the upcoming launch of its mobile Sportsbook and Casino app in Michigan, on Jan 22.

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  • DraftKings Could Beat Revenue Estimates By 25% Over Next 4 Years: Morgan Stanley

    Pure play sports betting company DraftKings Inc (NASDAQ: DKNG) gets an upgrade on Wednesday based on the total addressable market size rising with additional states launching and legalizing sports betting and iGaming.The DraftKings Analyst: Morgan Stanley's Thomas Allen upgraded DraftKings from Equal-Weight to Overweight and raises the price target from $39 to $60.The DraftKings Takeaways: The total addressable market for sports betting and iGaming has improved and Allen is raising forecasts."While stay-at-home tailwinds likely helped, the strength in iGaming has extended well beyond the early casino closures, suggesting acquired customers will continue playing and sports betting revenues beat our 4Q expectations despite a weaker sports calendar," Allen wrote in a note.The analyst raises the total addressable market for sports betting and iGaming by 27% to $15 billion in 2025. The market was worth $3 billion in 2020, which was ahead of the analyst's forecast of $2 billion.Related Link: Michigan Enters Online Sports Betting Game With Barstool And DraftKings Ready To RollDraftKings stands to benefit from a large number of states that could legalize sports betting and/or iGaming in 2021. The analyst sees launches and approvals in Arizona, Connecticut, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Ohio, Oklahoma, South Dakota, Texas. New York and Ontario are also seen as catalysts with approvals.Allen said DraftKings could beat revenue estimates for fiscal years 2022 to 2025 by 25% due to these catalysts. The fourth quarter is tracking 10% higher than consensus estimates as well."We also expect DKNG to start to talk about profitability in New Jersey, as FanDuel did, countering the bear thesis that the industry will never be profitable," Allen said. He has a bull case price target of $179.DKNG Price Action: Shares of DraftKings are up 3.2% to $52.94 at publication time.Latest Ratings for DKNG DateFirmActionFromTo Jan 2021Morgan StanleyUpgradesEqual-WeightOverweight Jan 2021BerenbergInitiates Coverage OnSell Dec 2020JP MorganInitiates Coverage OnNeutral View More Analyst Ratings for DKNG View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Inauguration Day Prop Bets: Length Of Joe Biden's Speech, Lady Gaga's Hair Color And More * Michigan Enters Online Sports Betting Game, With Barstool And DraftKings Ready To Roll(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Michigan Enters Online Sports Betting Game, With Barstool And DraftKings Ready To Roll

    Michigan's highly anticipated launch of online sports betting is set to happen on Friday, Jan. 22\. Nine companies have been approved to launch online sports betting offerings, according to Roundhill Investments.Penn National: The Barstool Sportsbook app from Penn National Gaming (NASDAQ: PENN) will launch on Friday, with an iCasino offering from Penn expected to launch shortly after.Penn is partnering with The Barstool Fund, an organization created by Barstool Sports founder Dave Portnoy to help struggling small businesses during the pandemic. Penn will match first-time deposits of Michigan customers who wager an equal or higher amount than their initial first-time deposit during the first weekend with a donation to the fund.Barstool led all sportsbooks by revenue in the state of Pennsylvania in December, according to Roundhill Investments. The state took in a record high for sports betting handle during the month."I definitely believe Barstool will have success in Michigan for a few reasons," Roundhill's Matias Dorta told Benzinga. "One, Barstool has a large base in Michigan. Two, Penn National Gaming owns one of the most popular casinos in the state, Greektown."Portnoy went to the University of Michigan and there's a strong presence of "stoolies" around Ann Arbor, Dorta added. Greektown Casino will be able to host interactive in-person events with fans in the future.Related Link: 7 Stocks To Watch Ahead of Michigan Online Sports Betting Legislation DraftKings: A mobile app from DraftKings Inc (NASDAQ: DKNG) will launch on Friday, an online sports betting and an iGaming offering that will include blackjack, roulette, baccarat and more.The company is the official sports betting and casino partner for the Detroit Pistons. Customers will be able to play team-specific bets and free to play pools. On Friday, customers can double their money if the Pistons score a three-point shot.The company will now offer online sports betting in 11 states, more than any competitor in the industry.Other Stocks to Watch: Other stocks to watch with approved online sports betting offerings in Michigan are FanDuel, Golden Nugget Online (NASDAQ: GNOG), BetMGM, William Hill and Bet Rivers from Rush Street Interactive (NYSE: RSI).BetMGM is a joint venture partially owned by MGM Resorts International (NYSE: MGM), which Dorta picked as another stock that could be positioned to succeed in Michigan."MGM has a large database of Michigan gamblers because they own the biggest casino in the state, the MGM Grand Detroit," Dorta said.BetMGM is the official betting partner of the Detroit Lions and Detroit Red Wings.The Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) is a pure-play investment option to get exposure to several of the companies launching online sports betting in Michigan.See more from Benzinga * Click here for options trades from Benzinga * DraftKings To Launch Super Bowl Prop Bet Show With Bleacher Report * Why KeyBanc Is Bullish On These 4 Casino Stocks(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • DraftKings Mobile Sportsbook and iGaming to Arrive in Michigan on January 22nd

    Marks First New Market Mobile Launch of 2021 Through Deal With Bay Mills Resort and CasinoBOSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced the upcoming launch of its mobile Sportsbook and Casino app for January 22nd. Fans in the Great Lakes State can soon place bets on their favorite leagues and teams through America’s top-rated sportsbook app as well as play a variety of iGaming options such as blackjack, roulette and slots. The launch of DraftKings Sportsbook in Michigan follows an expansive year during which DraftKings broadened its national sportsbook product footprint to include Colorado, Illinois, Iowa and Tennessee. Upon successful launch on Friday, the company will be live with mobile sports betting in 11 states, which is more than any other company in the industry. “Foremost, we would like to thank Bay Mills for their tremendous support in bringing DraftKings to the great state of Michigan,” said Jason Robins, DraftKings co-founder, chairman and CEO. “We are confident that our mutual commitment to product innovation and customer experience will serve as a solid foundation as we soon introduce Michiganders to the signature DraftKings experience.” The historic Bay Mills Resort & Casino is the state’s longest-operating gaming facility and has been instrumental in providing access to DraftKings’ online sportsbook and casino to the state of Michigan. “We look forward to officially launching our partnership with DraftKings and bringing a new aspect of gaming entertainment to our fellow Michiganders,” said Bryan Newland, Indian Community Chairman, Bay Mills. “Online gaming and sports betting will help our tribe and our casino move solidly into the future.” In addition to DraftKings’ wide array of traditional and unique betting opportunities, customers in Michigan can expect several promotions, including those related to the four professional sports teams and a number of Division I collegiate football and basketball programs. As DraftKings is now an official sports betting and casino partner of the Detroit Pistons, customers can play team-specific, free-to-pay pools, odds boosts and more. To celebrate the eventual launch, DraftKings is offering new customers in Michigan two Double Your Money opportunities including: Friday, January 22: Double your money on the Detroit Pistons to score a 3-point shotFriday, January 22 – Sunday, January 24: Double your money on any NFL team to score a Conference Championship touchdown DraftKings Casino features a wide variety of games within its library, including 17 blackjack, six roulette and three Baccarat exclusive offerings that will all become available to Michigan customers alongside DraftKings Sportsbook. DraftKings Sportsbook, DraftKings Casino and the DraftKings daily fantasy products are available via iOS and Android here. About DraftKings DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR. About Bay Mills Bay Mills Resort & Casino is an enterprise of the Bay Mills Indian Community and is the longest operating casino in Michigan. Located in Brimley Michigan, Bay Mills is an exciting entertainment destination along the shoreline of Lake Superior. With a wide assortment of slots and table games, bars and restaurants, a scenic 18-hole golf course, and a 143-room hotel, Bay Mills is the perfect gateway to adventure in the Upper Peninsula. For more information visit us online at BayMillsCasinos.com. Forward-Looking Statements Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, as amended. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Media Contactmedia@draftkings.com@draftkingsnews

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