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Technology Stocks
DraftKings, Inc. / Online Gambling
An SI Board Since April 2020
Posts SubjectMarks Bans Symbol
264 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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253 Fox wins right to buy a stake in FanDuel, but not at the price it wanted PUBLIGlenn Petersen211/7/2022
252More detail: DraftKings Stock Hammered On Third-Quarter Earnings Report WrittGlenn Petersen211/4/2022
251DraftKings shares tumbles after monthly users fall short of estimates PUBLISHEDGlenn Petersen111/4/2022
250Disney CEO Bob Chapek says ESPN will never take bets Published Thu, Sep 15 202Glenn Petersen19/15/2022
249DraftKings CEO on Accepting Crypto Payments: 'People Want It, We're WorkGlenn Petersen-5/25/2022
248DraftKings CFO Expects Smaller Ops To ‘Continue To Throw In The Towel’ Written Glenn Petersen15/25/2022
247DraftKings Revenue Up 34% as Gambling Unfazed by Inflation The sports-betting cGlenn Petersen-5/6/2022
246Rush Street Touts Marketing Efficiency As BetRivers Fights For US Share WrittenGlenn Petersen-3/18/2022
245Analysis: Is Genius Sports A Takeout Target As Market Cap Drops? Written By BrGlenn Petersen-3/18/2022
244Analysis: Could DraftKings Stock Drop Hurt Sports Betting Market Share? WrittenGlenn Petersen-3/18/2022
243Apollo considers merging Yahoo Sports with betting companies, sources say PUBLIGlenn Petersen13/2/2022
242Hello Gary, Penn has been showing signs of a bottom being in. If/When I put munsixty2nds12/21/2022
241DraftKings Stock Drops Amid Growing Questions About Profitability Written By BGlenn Petersen-2/20/2022
240SHORT SELLER: ‘HIS MATH MAKES NO SENSE’ Posted on December 3, 2021 by Brad AllGlenn Petersen-12/5/2021
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