Draftkings Inc Stock Price, News & Analysis

DraftKings has expanded its NFT ecosystem, DraftKings Marketplace, to Canada, marking its first international availability. Following a successful U.S. launch, the platform will showcase exclusive Wayne Gretzky NFTs, with premier and signature editions dropping on August 17 and 20, respectively. This expansion is anticipated to engage Canada's sports fanbase, which has a strong history of participation in DraftKings' contests. The integration of Scarcity Labs, a recent acquisition, aims to enhance support for the NFT marketplace.

DraftKings Marketplace launched its NFT platform with tremendous success, as all five drops of Tom Brady's Premier Preseason Access Collection sold out immediately. Prices ranged from $12 to $100, generating over $1 million in gross merchandise volume. Demand was high, with queues three times larger than the available supply. The platform's user-friendly design contributed to positive engagement. In a follow-up, tomorrow's Signature Preseason Access Collection will feature NFTs signed by Brady.

DraftKings (Nasdaq: DKNG) will have CEO Jason Robins participate in the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 8:30 AM ET. Investors can access the live stream through DraftKings’ Investor Relations website.

Founded in 2012, DraftKings is a leading digital sports entertainment and gaming company, offering products across daily fantasy and regulated gaming. It operates in multiple U.S. states and is a partner with major sports leagues, including the NFL and NBA.

DraftKings Marketplace has launched its first Preseason Access Collection featuring NFTs from iconic athletes including Tom Brady, Wayne Gretzky, and Tiger Woods. The initial drop, starting August 11, 2021, includes limited Tom Brady NFTs with subsequent drops planned for other athletes. This move supports the growing NFT market, which recorded over $2.5 billion in sales for the first half of 2021. DraftKings aims to provide an accessible platform for NFT collectors, leveraging expertise from its recent acquisition of Scarcity Labs.

DraftKings Inc. has announced a definitive agreement to acquire Golden Nugget Online Gaming in an all-stock transaction valued at approximately $1.56 billion. This acquisition aims to leverage Golden Nugget's strong brand and extensive customer base of over 5 million, enhancing DraftKings' market presence in iGaming. The deal is expected to generate $300 million in synergies and facilitate a multi-brand strategy, increasing revenue through cross-promotion and improved marketing efficiencies. It is anticipated to close in the first quarter of 2022, pending regulatory approvals.

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.