Draftkings Inc Stock Price, News & Analysis

DraftKings (NASDAQ: DKNG) and the Mashantucket Pequot Tribal Nation have announced a partnership to expand sports betting operations to Puerto Rico. This follows their successful launch of sports betting in Connecticut. The DraftKings retail sportsbook will be located at the Foxwoods El San Juan Casino, featuring modern facilities, including a large video wall and multiple betting kiosks, pending regulatory approvals. The initiative aims to cater to Puerto Rico’s vibrant sports culture while promoting responsible gaming practices, with DraftKings also planning to offer daily fantasy sports in the region.

DraftKings Marketplace has launched its first in-house Primetime NFT Series with the 2022 College Hoops Collection, coinciding with March's college basketball tournament. This initiative aims to enhance fan engagement and reward collectors. Those who collect all eight editions will receive a ninth commemorative NFT and access to future drops. Collectors can earn DK Dollars for gameplay across DraftKings' platform. The series marks a significant step in DraftKings' commitment to digital collectibles and follows previous Web3 initiatives, indicating a focus on integrating NFTs into their gaming ecosystem.

DraftKings (Nasdaq: DKNG) will enhance its media offerings by providing extensive coverage of the Men's College Basketball Tournament starting March 13, 2022. Fans can access analysis through DraftKings’ YouTube Channel and VSiN, featuring expert commentary on betting lines, real-time updates, and special programming. Notable shows include 'Line Drop: The Bracket,' offering insights from various sports personalities, and 'Tournament Betting Breakdown,' which will leverage data to guide fans in their bracket selections. This initiative aims to engage sports betting enthusiasts with unique content and improve DraftKings' market position.

DraftKings (Nasdaq: DKNG) announced that CFO Jason Park will participate in the BofA Sports Betting & Online Gaming Virtual Field Trip on March 10, 2022, at 1:00 PM ET. The event, which focuses on the sports betting and online gaming landscape, can be viewed live via registration on the conference website or DraftKings’ Investor Relations page. DraftKings, headquartered in Boston, is a leading digital sports entertainment and gaming company, offering fantasy sports, regulated gaming, and digital media across multiple jurisdictions.

DraftKings has partnered with Zero Hash to become a corporate validator on the Polygon blockchain, enhancing its Web3 efforts. This collaboration enables DraftKings to stake digital assets, thereby optimizing working capital and liquidity while contributing to Polygon's governance. The move is part of DraftKings' strategy to build a decentralized infrastructure, emphasizing their commitment to Web3 initiatives. Overall, this partnership positions DraftKings to play a key role in the growing Proof of Stake ecosystem, which has seen significant institutional interest.

DraftKings Reports Strong Q4 2021 Results with 47% Revenue Increase

On February 18, 2022, DraftKings (Nasdaq: DKNG) reported a remarkable 47% year-over-year revenue increase, achieving $473 million in Q4 2021, surpassing guidance by 8%. Full-year revenue grew 101% from 2020. Key metrics showed a 32% rise in Monthly Unique Payers and a 19% growth in Average Revenue Per Monthly Unique Payer. The company raised its 2022 revenue guidance to $1.85 billion to $2.0 billion, reflecting anticipated growth from new state launches, despite expecting an Adjusted EBITDA loss between $825 million and $925 million.

Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of $5.1 billion in Louisiana. By leveraging its affiliate software, Paysafe aims to enhance customer acquisition and revenue growth for sportsbook operators, marking its presence in 20 states including Washington, D.C.

DraftKings will host a virtual Investor Day on March 3, 2022, starting at 9:00 a.m. ET. The event, lasting approximately two hours, will feature presentations by CEO Jason Robins and CFO Jason Park.

The agenda includes insights on the total addressable market, market share and product innovation, customer cohort payback and state profitability results, along with an updated long-term Adjusted EBITDA outlook. A live Q&A session will follow the presentations.

Registration for the event is available on the DraftKings Investor Relations website, with an on-demand replay to be provided afterwards.

DraftKings Inc. has announced the launch of its online sportsbook in Louisiana, following the opening of a retail sportsbook in collaboration with Golden Nugget Casino Lake Charles. The mobile betting service will be available starting 8 am CT on January 28, making Louisiana the 17th state to offer DraftKings' online sports betting. The company aims to enhance accessibility for sports fans, building on its existing retail presence. DraftKings emphasizes responsible gaming practices and has seen notable interest in NFL and collegiate sports wagering since its retail launch in November 2021.