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Technology Stocks
DraftKings, Inc. / Online Gambling
An SI Board Since April 2020
Posts SubjectMarks Bans Symbol
199 26 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
199CAN ANYONE CRACK THE SOCIAL SPORTS BETTING CODE IN US? POSTED ON JULY 8, 2021 BGlenn Petersen-July 8
198HOW SCIENTIFIC GAMES SELLING SPORTS BETTING BUSINESS COULD RIPPLE IN US POSTED Glenn Petersen1June 30
197ANALYSIS: IS THE STICKY US SPORTS BETTING MARKET CHANGING? POSTED ON JUNE 24, 2Glenn Petersen-June 25
196Too bad it's not public yet. Too early for a SPAC deal.Glenn Petersen-June 23
195This one could be huge. Big time names Murren and Wittman supply credibility. rogermci®-June 23
194NASDAQ, MURREN INVEST IN MAJOR FUNDING ROUND FOR US SPORTS BETTING EXCHANGE POSGlenn Petersen1June 23
193DraftKings Shares Fall After Hindenburg Unveils Short Position Research firm alGlenn Petersen1June 16
192Capital One Arena just knocked down the final wall between gambling and U.S. proGlenn Petersen2May 29
191Inevitable: Consolidation is perhaps inevitable, especially as share prices dipGlenn Petersen2May 28
190ANALYSIS: HURDLES IN FRONT OF FANDUEL IPO IN US STACKING UP POSTED ON MAY 25, 2Glenn Petersen-May 26
189GENI closed at $20.26 on Friday. GENIUS SPORTS STOCK JUMPS ON STRONG Q1, UPGRADGlenn Petersen-May 23
188HOW BARSTOOL SPORTSBOOK MODELED ITSELF AFTER UK GIANT SKY BET POSTED ON MAY 17,Glenn Petersen-May 17
187DraftKings raises full-year guidance, expecting a return in sports PUBLISHED FGlenn Petersen-May 7
186GENIUS SPORTS REVENUES CLIMB 30% BUT REAL TEST YET TO COME POSTED ON APRIL 29, Glenn Petersen-May 3
185FLUTTER TO EXCLUDE ‘STRUGGLING’ FOX BET FROM POTENTIAL FANDUAL IPO POSTED ON APGlenn Petersen-May 1
184Another online sports gaming company is going public. Sports Entertainment AcquiGlenn Petersen-April 26
183The dMY Technology Group (DMYD)/Genius Sports Group (GENI) deal closed yesterdayGlenn Petersen-April 21
182EBET is trading at $19,77 this morning, down $5.88. HOW MUCH DID ESPORTS BETTINGlenn Petersen-April 19
181Probably collateral damage from the SPAC implosion, although DKNG is far removedGlenn Petersen1April 19
180With the recent news about the NFL deal, I wonder why the stock has been tankinginspbudget-April 19
179NFL picks Caesars, FanDuel, DraftKings for first wave of sports betting partnersGlenn Petersen-April 15
178MORE THAN A SPORTSBOOK: IS DRAFTKINGS BUILDING A MEDIA EMPIRE? POSTED ON APRIL Glenn Petersen1April 14
177Yes, in recent years more and more states have legalized casinos, however, such LarryBerry1April 12
176whats next? drugs?StevenProfitt-April 12
175ANALYSIS: HAS BARSTOOL SPORTSBOOK ALREADY HIT A CEILING? POSTED ON APRIL 7, 202Glenn Petersen2April 7
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