Draftkings Inc Stock Price, News & Analysis

DraftKings reported a significant revenue increase of 320% to $298 million in Q2 2021, compared to $71 million in Q2 2020. The company also raised its FY 2021 revenue guidance from $1.05-$1.15 billion to $1.21-$1.29 billion, reflecting robust customer growth and engagement. Monthly Unique Payers surged 281% year-over-year, highlighting effective marketing strategies. DraftKings is completing its proprietary technology migration and plans to launch DraftKings Marketplace, boosting its presence in NFTs and digital collectibles.

Genius Sports Limited (NYSE: GENI) announced a new supplier agreement with DraftKings Inc. (NASDAQ: DKNG) to provide official sportsbook data and fan engagement solutions, including NFL-related products.

This partnership enables DraftKings to access over 170,000 live events annually, enhancing its sports betting offerings. DraftKings will implement Genius' advanced technology for immersive experiences, expanding their data portfolio to include top leagues like the English Premier League and NASCAR.

DraftKings has partnered with Sports & Social to create an upscale sports bar experience in Nashville and Detroit, pending regulatory approvals. This collaboration aims to combine Sports & Social's expertise in high-energy dining and entertainment with DraftKings' top-tier sports gaming platforms. The venues will offer an interactive, engaging experience for fans, enhancing both in-person entertainment and mobile betting. This partnership highlights DraftKings' commitment to expanding its market presence and providing innovative betting and entertainment options.

DraftKings Inc. has become the official Daily Fantasy Sports (DFS) provider for the Boston Red Sox, enhancing its presence in the Northeast sports market. This partnership includes branding throughout Fenway Park, such as above the Green Monster, and field-level signage. DraftKings also plans to promote responsible gaming through the Red Sox Foundation and support the 50-50 raffle at home games. This agreement solidifies DraftKings' relationship with a historical franchise and aligns with its strategy to engage local fanbases and expand its market influence.

DraftKings (Nasdaq: DKNG) announced the launch of DraftKings Marketplace, a platform for buying and selling sports-related NFTs. This exclusive marketplace will feature officially licensed digital collectibles from Autograph, including access to NFTs of famous athletes. Users can buy, sell, and trade NFTs seamlessly with their DraftKings accounts. The initial offering will be the “Pre-Season Access” collection. The collaboration may expand into entertainment and culture NFTs, with Autograph’s advisory board contributing custom designs. Additional details will be shared next month.

Autograph, co-founded by Tom Brady, announces strategic partnerships with DraftKings (DKNG) and Lionsgate (LGF.A, LGF.B) to enhance its NFT platform. This collaboration features exclusive NFT deals with sports icons like Tiger Woods and Wayne Gretzky, aiming to establish Autograph as a leader in the NFT market. DraftKings Marketplace will host these collectibles, enabling users to buy, sell, and trade easily. Lionsgate will launch NFTs tied to popular franchises, expanding Autograph's entertainment offerings. The official NFT launch is set for later this summer.

DraftKings Inc. (Nasdaq: DKNG) has been named the first “Betting Operator of the World Golf Championships-FedEx St. Jude Invitational” and the first “Official Betting Operator of THE NORTHERN TRUST.” These tournaments will take place from August 2-8 and August 18-22, respectively. Fans can access the “DraftKings House” at both events, which will feature premium experiences and hospitality. The company continues to strengthen its partnership with the PGA TOUR and will host its Fantasy Golf World Championship at THE NORTHERN TRUST, offering $4 million in prizes.

DraftKings (Nasdaq: DKNG) has received a DFS license from the Louisiana Gaming Control Board, enabling its daily fantasy sports offerings in the state. Louisiana becomes the 44^th state to host DraftKings, which encompasses popular sports like NFL, MLB, and NBA. As part of the launch, new customers will receive free credits for contests. The company introduces innovations such as the Fair Play Commitment Initiative and customizable DraftKings Leagues, enhancing user experience. The launch aligns with DraftKings’ broader expansion strategy across the U.S.

DraftKings will release its second quarter 2021 results on August 6, 2021, before 8:30 AM EDT. A conference call to discuss these results will follow at the same time. Investors can access the earnings press release and related materials on DraftKings’ investor relations website. The audio webcast and presentation will be available until September 14, 2021. As a leading digital sports entertainment and gaming company, DraftKings operates across multiple states in the U.S. and is partnered with major sports leagues.