Draftkings Inc Stock Price, News & Analysis

Engine Media Holdings has filed a patent infringement lawsuit against DraftKings in New Jersey, alleging violations of its patents related to gaming services. The lawsuit focuses on the '243 Patent, which addresses latency in television reception during skill games, and the '543 Patent, which pertains to resource management for computing devices. Engine's subsidiary, Winview, aims to protect its intellectual property, boasting a portfolio of 80 U.S. patents. The company anticipates potential damages and relief through this legal action.

DraftKings is set to sponsor the Nathan’s Famous Fourth of July International Hot Dog Eating Contest for the second year in a row. The event, held at Coney Island’s Maimonides Park, marks the return of a live audience after pandemic-related restrictions. DraftKings will offer a free-to-play pool with $25,000 in prizes and will serve as the official oddsmaker for the competition. The contest will feature top eaters, including Joey Chestnut, aiming for a record-breaking win. The event will be broadcasted live on ESPN.

DraftKings Inc. (Nasdaq: DKNG) announced a strategic consulting agreement with the Division on Addiction at Cambridge Health Alliance, affiliated with Harvard Medical School. This partnership aims to develop a systems-based approach to responsible gaming training for employees, enhancing player safety policies and resources. The collaboration is rooted in previous research utilizing DraftKings' anonymized data, leading to academic contributions. As sports betting expands, the initiative emphasizes the need for evidence-based strategies to mitigate gaming-related risks.

Domino's Pizza (NYSE: DPZ) has introduced a new Carside Delivery 2-Minute Guarantee. Customers who order online can check in upon arrival, and a team member will bring their order to their car in less than two minutes or receive their next pizza for free. Additionally, in partnership with DraftKings (Nasdaq: DKNG), they launched the Over/Under Challenge, allowing customers to predict the delivery speed for a chance to win a share of $200,000. The challenge runs until July 12, 2021.

DraftKings has partnered with the American Gaming Association (AGA) to launch the Have A Game Plan.® Bet Responsibly™ campaign across its retail sportsbooks. This initiative will provide education on responsible sports betting to patrons at all ten DraftKings locations in the U.S. The collaboration integrates responsible gaming tools alongside existing DraftKings messaging to promote safer gambling practices. With over 100 million Americans now able to legally bet on sports, this campaign aims to enhance consumer safety and awareness of problem gambling.

DraftKings (Nasdaq: DKNG) announced that its CEO and co-founder, Jason Robins, will participate in the Goldman Sachs Travel and Leisure Conference on June 7, 2021, with a fireside chat scheduled for 2:25 PM ET. The conference will be accessible through the conference website and DraftKings' Investor Relations page. As a leading digital sports entertainment and gaming company, DraftKings operates across various sports betting and gaming technologies, making it a prominent player in the industry.

DraftKings Inc. (Nasdaq: DKNG) announced a financial commitment to the International Center for Responsible Gaming (ICRG) to support research on responsible gaming, particularly in sports betting. This fund will enable global researchers to apply for grants aimed at investigating problem gambling and responsible gaming practices. Applications are open until September 2021, with selected projects receiving funding for three years. CEO Jason Robins emphasized the company's dedication to customer safety and responsible gaming innovation.

DraftKings has announced its partnership with 23XI Racing and driver Bubba Wallace as the official Daily Fantasy Sports and Sportsbook partner, pending regulatory approval. This sponsorship will begin at the Texas Grand Prix on May 23, 2021, and will last throughout the 2021 NASCAR season, featuring the DraftKings logo on the No. 23 Camry. The collaboration aims to enhance the experience for racing fans, including social media content and a free-to-play pool with prizes. DraftKings emphasizes shared values with the team, particularly in social justice advocacy.

DraftKings Reports Strong Q1 Results: DraftKings (DKNG) posted a remarkable first quarter revenue of $312 million, a 253% increase from $89 million year-over-year. The company raised its 2021 revenue guidance to $1.05 billion to $1.15 billion, signaling continued growth. Key metrics include a 114% rise in Monthly Unique Payers (MUPs) and a 48% increase in Average Revenue per MUP (ARPMUP). Additionally, DraftKings is expanding its market presence with new mobile sports betting in Michigan and Virginia.