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DraftKings Inc. - $DKNG STOCK NEWS

Welcome to our dedicated page for DraftKings news (Ticker: $DKNG), a resource for investors and traders seeking the latest updates and insights on DraftKings stock.

DraftKings Inc. (NASDAQ: DKNG) is a prominent American company specializing in daily fantasy sports contests and sports betting. Originating in 2012, DraftKings has made significant strides in the digital sports entertainment industry. The company offers daily and weekly fantasy sports-related contests where users can win money based on individual player performances across a variety of sports, including Major League Baseball (MLB), National Hockey League (NHL), National Football League (NFL), National Basketball Association (NBA), and the Professional Golfers' Association (PGA), among others.

Following the Supreme Court ruling in 2018, which allowed states to legalize online sports wagering, DraftKings expanded into online sports and casino gambling. It currently ranks as one of the top operators in the industry, maintaining a strong presence in both online and retail sports betting across 27 states, as well as iGaming operations in seven states. The company's offerings are also accessible to approximately 40% of Canada's population.

DraftKings operates a diverse portfolio that includes a non-fungible token (NFT) marketplace and licenses online gaming products. The company is committed to creating engaging and responsible gaming experiences. It has formed strategic partnerships with several major sports leagues, such as the NFL, NHL, PGA TOUR, UFC, NBA, and MLB, to enhance its fantasy sports and sports betting offerings. Additionally, DraftKings is an official partner of NASCAR and an authorized gaming operator of MLB.

In recent developments, DraftKings anticipates a significant boost in adjusted EBITDA, projecting an increase of $60 million to $100 million by the fiscal year 2026. The company also prioritizes responsible gaming and corporate social responsibility, offering extensive resources and programs to ensure player well-being.

Headquartered in Boston, DraftKings continues to innovate and lead in the realm of digital sports entertainment. With a mission to fuel the competitive spirit of sports fans, DraftKings is dedicated to delivering the world's favorite real-money games and betting experiences.

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DraftKings (Nasdaq: DKNG) has finalized its acquisition of Jackpocket, a leading digital lottery app in the U.S., on May 23, 2024.

CEO Jason Robins highlighted the plan to leverage Jackpocket's technology to enhance customer acquisition and expand DraftKings' digital lottery offerings.

Jackpocket CEO Peter Sullivan emphasized the synergy in driving growth and innovation in the digital lottery sector. This acquisition allows DraftKings to diversify its product portfolio and improve customer lifetime value while maintaining a focus on responsible gaming.

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DraftKings Inc. (Nasdaq: DKNG) reported a remarkable 53% revenue growth to $1,175 million in the first quarter of 2024. The company's strong performance was fueled by efficient customer engagement, new customer acquisition, and product expansion. DraftKings raised its 2024 revenue guidance midpoint to $4.9 billion and Adjusted EBITDA guidance to $500 million, showing optimistic growth prospects.

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DraftKings appoints Lori Kalani as their first Chief Responsible Gaming Officer to enhance player safety and protection activities. Kalani's expertise in consumer protection law will help DraftKings set new industry standards for responsible gaming initiatives.
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DraftKings Inc. (DKNG) will release its first quarter 2024 results on May 2, 2024, and host a conference call on May 3, 2024, to discuss business performance.
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DraftKings (DKNG) expands partnership with Kindbridge Behavioral Health to provide therapy and treatment for problem gaming in all 25 states of operation, emphasizing responsible play and player well-being.
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DraftKings Inc. announced Jason Park as the new Chief Transformation Officer and Alan Ellingson as the Chief Financial Officer effective May 1, 2024. Park will focus on deploying advanced technologies for operational efficiencies and integrating the acquisition of Jackpocket. Ellingson aims to enhance shareholder value by driving financial objectives. Park's transition follows his successful tenure as CFO, overseeing revenue growth from $323 million in 2019 to $3,665 million in 2023, with positive Adjusted EBITDA in 2023. The stock price surged over 325% since the IPO in 2019.
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DraftKings Inc. introduces 'My Stat Sheet', a tool to help players track and analyze their gaming statistics for responsible gaming. The feature offers insights into time spent, deposits, withdrawals, wagers, and more, promoting data-driven decision-making.
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DraftKings Inc. (Nasdaq: DKNG) is launching its online sportsbook in North Carolina on March 11, 2024, following an agreement with NASCAR. The online sportsbook will offer a variety of betting markets, including same-game parlays and in-game betting, with a focus on responsible gaming. The launch event will feature a ceremonial first bet with Carolina Panthers legend Greg Olsen. DraftKings is also supporting Problem Gambling Awareness Month and promoting responsible gaming practices.
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DraftKings Inc. CEO Jason Robins to participate in the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2024. The fireside chat will take place at 2:55PM ET. Investors can access the event live on DraftKings' Investor Relations website.
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DraftKings Inc. reports strong fourth quarter and fiscal year 2023 financial results with revenue of $1,231 million, a 44% increase from the previous year. The Company focuses on customer acquisition, retention, and engagement, raising its fiscal year 2024 revenue guidance to $4.65-$4.90 billion and Adjusted EBITDA guidance to $410-$510 million. DraftKings expands its Sportsbook product into new jurisdictions and plans to launch in North Carolina on March 11, 2024.
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FAQ

What does DraftKings Inc. do?

DraftKings Inc. specializes in daily fantasy sports contests and sports betting, offering users opportunities to win money based on player performances in various sports.

When was DraftKings founded?

DraftKings was founded in 2012.

In how many states does DraftKings operate sports betting?

DraftKings operates sports betting in 27 states.

Which major sports leagues are partnered with DraftKings?

DraftKings is partnered with NFL, NHL, PGA TOUR, UFC, NBA, and MLB. It is also an official daily fantasy partner of NASCAR.

What is DraftKings' approach to responsible gaming?

DraftKings prioritizes responsible gaming by offering resources and programs to ensure player well-being and promote responsible play across its platforms.

What are recent financial projections for DraftKings?

DraftKings expects to drive $60 million to $100 million in adjusted EBITDA by the fiscal year 2026.

Where is DraftKings headquartered?

DraftKings is headquartered in Boston, Massachusetts.

Does DraftKings offer online casino gaming?

Yes, DraftKings offers online casino gaming, also known as iGaming, in several states.

What other products does DraftKings offer?

Besides sports betting and fantasy sports, DraftKings operates an NFT marketplace, licenses online gaming products, and offers digital media content.

How does DraftKings support players facing problem gaming?

DraftKings collaborates with Kindbridge Behavioral Health to provide comprehensive mental health assessments and personalized care plans for players who self-exclude.

DraftKings Inc.

Nasdaq:DKNG

DKNG Rankings

DKNG Stock Data

20.35B
464.45M
2.4%
72.38%
3.52%
Gambling
Consumer Cyclical
Link
United States of America
BOSTON