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Technology Stocks
DraftKings, Inc. / Online Gambling
An SI Board Since April 2020
Posts SubjectMarks Bans Symbol
249 28 0 DKNG
Emcee:  Glenn Petersen Type:  Moderated
On April 24, 2020, DraftKings, Inc., a digital sports entertainment and gaming company known for its industry-leading daily fantasy sports and mobile sports betting platforms, went public when it was acquired by Diamond Eagle Acquisition Corp., a Special Purpose Acquisition Corporation (SPAC). The transaction also included the acquisition of SBTech Global Limited, an international provider of cutting-edge sports gaming technologies.

In a press release announcing the close of the transaction, Jason Robins, the CEO and co-founder of DraftKings said, "Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America. By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech's proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best, most innovative sports and gaming products to our customers."

In May 2018, the Supreme Court struck down a 1992 federal law that effectively banned commercial sports betting - including online betting - in most starts, thus opening the door to legalizing the estimated $150 billion in illegal wagers on professional and amateur sports that Americans make each year.

For the year ended December 31, 2019, the consolidated entity had revenues of $431,834,000 and a net loss of $139,893,000, equal to $(.42) per fully diluted share.

On the first day of trading for the shares of the newly public DraftKings, trading under the symbol DKNG, closed at $19.35, up $1.82 for the day.

There are approximately 336,631,000 shares outstanding.

There are also 13,333,333 publicly traded warrants outstanding. The warrants, which trade under the symbol DKNGW, have an exercise price of $11.50 per share.

Feel free to share your experiences on the DraftKings website.

Additional Resources
DraftKings Website
DraftKings Investor Relations
DraftKings SEC Filings

Industry Resources
Legal Sports Report
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ReplyMessage PreviewFromRecsPosted
249DraftKings CEO on Accepting Crypto Payments: 'People Want It, We're WorkGlenn Petersen-May 25
248DraftKings CFO Expects Smaller Ops To ‘Continue To Throw In The Towel’ Written Glenn Petersen1May 25
247DraftKings Revenue Up 34% as Gambling Unfazed by Inflation The sports-betting cGlenn Petersen-May 6
246Rush Street Touts Marketing Efficiency As BetRivers Fights For US Share WrittenGlenn Petersen-March 18
245Analysis: Is Genius Sports A Takeout Target As Market Cap Drops? Written By BrGlenn Petersen-March 18
244Analysis: Could DraftKings Stock Drop Hurt Sports Betting Market Share? WrittenGlenn Petersen-March 18
243Apollo considers merging Yahoo Sports with betting companies, sources say PUBLIGlenn Petersen1March 2
242Hello Gary, Penn has been showing signs of a bottom being in. If/When I put munsixty2nds1February 21
241DraftKings Stock Drops Amid Growing Questions About Profitability Written By BGlenn Petersen-February 20
240SHORT SELLER: ‘HIS MATH MAKES NO SENSE’ Posted on December 3, 2021 by Brad AllGlenn Petersen-12/5/2021
239HONEYMOON OVER: WHEN DO US SPORTSBOOKS NEED TO START SHOWING A PROFIT? Posted oGlenn Petersen111/23/2021
238Solana-Based Sports Betting Protocol BetDEX Closes $21M Seed Funding Round CrypGlenn Petersen-11/19/2021
237Disney Shows Its Cards in Pursuit of Sports Betting Dollars Now that major leagGlenn Petersen-11/17/2021
236DRAFTKINGS STOCK GOES GREEN DESPITE MISSED Q3 EARNINGS Posted on November 5, 20Glenn Petersen-11/7/2021
235NO DEAL FOR DRAFTKINGS AND ENTAIN AS TALKS TERMINATED Posted on October 26, 202Glenn Petersen-10/27/2021
234OT, but interesting: Kalshi:Kalshi Trade on what matters to you Kalshi enableGlenn Petersen-10/24/2021
233DraftKings stock jumps after deal with NHL to be an official sports betting, fanGlenn Petersen-10/13/2021
232DOES BETMGM GROWTH CHANGE CALCULUS FOR ENTAIN DEAL WITH DRAFTKINGS? Posted on OGlenn Petersen-10/13/2021
231DISNEY CEO: ESPN READY TO TAKE ‘MAJOR STEPS’ ON SPORTS BETTING Posted on SeptemGlenn Petersen19/23/2021
230FanDuel Parlays Fantasy Sports Into a $1.9 Billion Betting Boom Glenn Petersen-9/22/2021
229More analysis: WHAT WE KNOW ABOUT DRAFTKINGS’ REPORTED $20 BILLION BID FOR ENTAGlenn Petersen-9/21/2021
228DraftKings makes $20 billion offer for UK sports betting company Entain, sourcesGlenn Petersen-9/21/2021
227Still early days. The ultimate promotional tie up: ESPN Explores Sports-BettingGlenn Petersen28/28/2021
226DKS and HIBB posting blow out quarters and raising estimates pretty dramaticallyRarebird-8/27/2021
225:) ............. .... ...Rarebird18/25/2021
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