Draftkings Inc Stock Price, News & Analysis

DraftKings (Nasdaq: DKNG) has been announced as the Official Gaming Partner of WWE (NYSE: WWE), pending regulatory approval. This partnership will feature DraftKings' free-to-play pools product, debuting at WrestleMania on April 10 and 11, enhancing audience engagement with WWE's events. The collaboration provides DraftKings an exclusive license for media assets and in-game branding for WWE's pay-per-view events, allowing fans to participate in integrated contests. This agreement marks a significant milestone in WWE’s efforts to deepen fan engagement and offers DraftKings leverage with WWE's extensive audience.

DraftKings (Nasdaq: DKNG) announced that CEO Jason Robins will speak at the Duke Sports Business Conference on March 25, 2021, at 6:00 PM EDT. The conference aims to explore various aspects of sports business. Attendees can register and access live video and audio through the conference's website. DraftKings is a leading digital sports entertainment and gaming company, offering services across daily fantasy, regulated gaming, and digital media.

DraftKings announced a private offering of $1.1 billion in 0% Convertible Senior Notes due 2028, increasing from a previous $1 billion offering. The sale is expected to close on March 18, 2021. The initial conversion rate is approximately 10.5430 shares per $1,000, representing a 40% premium over the last sale price of $67.75. Net proceeds are estimated at $1,084 million, with funds allocated for working capital, mergers, acquisitions, and capped call transactions. The Notes are not redeemable until March 15, 2025, and will not accrue regular interest.

DraftKings (DKNG) announced plans to offer $1 billion in Convertible Senior Notes due 2028 in a private institutional offering. The offering includes a 13-day option for initial purchasers to buy an additional $150 million in Notes. Proceeds will be used for working capital and corporate purposes, including potential mergers and acquisitions. The Notes will be unsecured and may be converted into cash or shares of Class A common stock. The company also plans capped call transactions to mitigate potential dilution of its stock.

DraftKings has entered a historic partnership with UFC, becoming their first official exclusive sportsbook and daily fantasy partner in the U.S. and Canada. This agreement allows DraftKings to leverage UFC branding, offer free-to-play games, and create innovative betting opportunities. The UFC Fight Clock, a new time-keeping system, will also feature DraftKings as its presenting partner. This partnership is expected to enhance fan engagement and capitalize on the growing popularity of combat sports.

DraftKings will host a virtual Investor Day on March 9, 2021, starting at 9:00 a.m. ET. The event, lasting approximately two and a half hours, will feature presentations from key executives including CEO Jason Robins and CFO Jason Park, followed by a Q&A session. Interested parties can register through the Investor Relations website, where an on-demand replay will be available post-event. DraftKings is a leading digital sports entertainment and gaming company, offering a variety of products in the sports betting and fantasy sports sectors.

DISH Network and DraftKings have announced a strategic partnership to integrate the DraftKings sportsbook and daily fantasy app directly into the DISH TV Hopper platform. This initiative allows DISH customers to access betting odds and fantasy contests from their TVs, enhancing the viewing experience for sports fans. Initial features include betting on NCAA basketball, NBA, and NHL games, with further enhancements planned. Customers will receive prompts via text to complete transactions on their mobile devices. This collaboration aims to provide a next-generation engagement for sports viewers.

DraftKings Inc. reported fourth-quarter revenue of $322 million, up 146% year-over-year, and increased its 2021 revenue guidance from $750 million-$850 million to $900 million-$1 billion, representing a 40%-55% growth. The company recorded 1.5 million monthly unique payers (MUPs), a 44% increase, and average revenue per MUP rose 55% to $65. New expansions in Michigan and Virginia contributed to this growth. DraftKings also announced several strategic partnerships aimed at enhancing its market position.