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Technology Stocks
DraftKings, Inc. / Online Gambling
An SI Board Since April 2020
Posts SubjectMarks Bans Symbol
282 26 0 DKNG
Emcee:  Glenn Petersen Type:  Moderated
Introduction Market Data Compact
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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282FanDuel Stock Arrives On NYSE Through Parent Company Flutter Written By MattheGlenn Petersen-January 29
281FanDuel parent Flutter lists on the NYSE, challenging DraftKings as sports-bettiGlenn Petersen1January 29
280DKNG Stock A Buy Despite Upcoming Concerns, Analyst Says Written By Matthew WaGlenn Petersen1January 26
279Analysis: FanDuel Fends Off Latest DraftKings Challenge, But For How Long? WritGlenn Petersen112/29/2023
278Analysts: Sports Betting Stock Reactions From Earnings To Date Written By MattGlenn Petersen-11/14/2023
277Flutter Earnings: New FanDuel Stock US Listing Window Revealed Written By MattGlenn Petersen111/12/2023
276Last month, DraftKings overtook rival sportsbook FanDuel for the first time in mGlenn Petersen211/2/2023
275Analysis: How US Sports Betting Passed $250 Billion Wagered In Five Years WrittGlenn Petersen18/29/2023
274Another sports book tosses in the towel: WynnBet Shutting Down Sports Betting, Glenn Petersen18/13/2023
273Dave Portnoy Bought Back Barstool Sports for $1 Penn Entertainment estimates thGlenn Petersen18/9/2023
272DraftKings falls 10% on new threat for sports gambling market share from ESPN-PeGlenn Petersen18/9/2023
271PENN is up approximately 13% in early morning trading. ESPN launches sportsbookGlenn Petersen18/9/2023
270Penn Entertainment sells Barstool Sports back to founder Dave Portnoy PUBLISHEDGlenn Petersen18/9/2023
269DraftKings Stock Target Raised As Analysts Predict Profitability Written By SaGlenn Petersen17/20/2023
268Fanatics increases its offer to $225 million to acquire PointsBet’s U.S. assets Glenn Petersen16/28/2023
267Report: DraftKings, Fanatics Scrapped Secret Merger Years Before PointsBet Deal Glenn Petersen16/25/2023
266DraftKings makes $195 million offer for PointsBet, outbidding Fanatics PUBLISHEGlenn Petersen16/16/2023
265Currently, a bit player: Fanatics holds second investor day as the company moveGlenn Petersen16/13/2023
264A pair of sports betting deals has the gaming industry asking, ‘Who’s next?’ PUGlenn Petersen25/15/2023
263Fanatics Buying PointsBet US Sports Betting Business For $150 Million Written BGlenn Petersen25/15/2023
262Analysis: Is Barstool Sportsbook Acquisition Working For Penn? Written By EricGlenn Petersen15/8/2023
261The market share for PointBer in the U.S. is 3,3%, which puts it in seventh placGlenn Petersen-5/3/2023
260FanDuel Stock Listing In US Approved By Flutter Shareholders Written By MattheGlenn Petersen14/28/2023
259BetMGM Focused On Improving Sports Betting Product With Profitability In Sight Glenn Petersen14/23/2023
258Analysis: US Sports Betting Hold Rising As Operators Seek Path To Profitability Glenn Petersen14/22/2023
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