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Technology Stocks
DraftKings, Inc. / Online Gambling
An SI Board Since April 2020
Posts SubjectMarks Bans Symbol
278 27 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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278Analysts: Sports Betting Stock Reactions From Earnings To Date Written By MattGlenn Petersen-November 14
277Flutter Earnings: New FanDuel Stock US Listing Window Revealed Written By MattGlenn Petersen1November 12
276Last month, DraftKings overtook rival sportsbook FanDuel for the first time in mGlenn Petersen2November 2
275Analysis: How US Sports Betting Passed $250 Billion Wagered In Five Years WrittGlenn Petersen1August 29
274Another sports book tosses in the towel: WynnBet Shutting Down Sports Betting, Glenn Petersen1August 13
273Dave Portnoy Bought Back Barstool Sports for $1 Penn Entertainment estimates thGlenn Petersen1August 9
272DraftKings falls 10% on new threat for sports gambling market share from ESPN-PeGlenn Petersen1August 9
271PENN is up approximately 13% in early morning trading. ESPN launches sportsbookGlenn Petersen1August 9
270Penn Entertainment sells Barstool Sports back to founder Dave Portnoy PUBLISHEDGlenn Petersen1August 9
269DraftKings Stock Target Raised As Analysts Predict Profitability Written By SaGlenn Petersen1July 20
268Fanatics increases its offer to $225 million to acquire PointsBet’s U.S. assets Glenn Petersen1June 28
267Report: DraftKings, Fanatics Scrapped Secret Merger Years Before PointsBet Deal Glenn Petersen1June 25
266DraftKings makes $195 million offer for PointsBet, outbidding Fanatics PUBLISHEGlenn Petersen1June 16
265Currently, a bit player: Fanatics holds second investor day as the company moveGlenn Petersen1June 13
264A pair of sports betting deals has the gaming industry asking, ‘Who’s next?’ PUGlenn Petersen2May 15
263Fanatics Buying PointsBet US Sports Betting Business For $150 Million Written BGlenn Petersen2May 15
262Analysis: Is Barstool Sportsbook Acquisition Working For Penn? Written By EricGlenn Petersen1May 8
261The market share for PointBer in the U.S. is 3,3%, which puts it in seventh placGlenn Petersen-May 3
260FanDuel Stock Listing In US Approved By Flutter Shareholders Written By MattheGlenn Petersen1April 28
259BetMGM Focused On Improving Sports Betting Product With Profitability In Sight Glenn Petersen1April 23
258Analysis: US Sports Betting Hold Rising As Operators Seek Path To Profitability Glenn Petersen1April 22
257This Couple Built an Obscure Corner of Sports Betting Into a Billion-Dollar Businicewatch1April 21
256Analyst: PointsBet Sale Will Be ‘Litmus Test’ For Industry Written By Sam McQuGlenn Petersen-April 18
255GAN Strategic Review In Place As Company Shifts Focus Amid Concerns Written BynGlenn Petersen1April 7
254Analysis: What’s Next For Barstool Sports After Full Acquisition By Penn? WrittGlenn Petersen-February 22
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