Draftkings Inc Stock Price, News & Analysis

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.

DraftKings has appointed baseball legend Cal Ripken Jr. as a special advisor to its board of directors. Ripken, known for his remarkable MLB career, will provide strategic insights on company initiatives and become an equity holder in DraftKings. Jason Robins, CEO, emphasized Ripken's qualities of perseverance and integrity as invaluable to the company. Ripken will focus on company strategy, product development, and marketing, especially as the baseball season approaches. His appointment is effective immediately, enhancing DraftKings' strategic direction in sports engagement.

DraftKings released its inaugural Environmental, Social and Governance (ESG) Report, underscoring its dedication to corporate responsibility in 2020. CEO Jason Robins emphasized the company's focus on cybersecurity, sustainability, and responsible gaming. A newly formed sustainability working group identified key ESG areas, including Responsible Gaming, Community Engagement, Cybersecurity, and Energy Management. DraftKings will continue to track and report on its ESG initiatives, marking this report as a significant first step in its commitment to sustainable practices.

DraftKings has appointed Jennifer Aguiar as its new Chief Compliance Officer, effective February 2021. Having previously served as Vice President of Compliance and Risk, Aguiar played a crucial role in navigating the company through the licensing processes for daily fantasy sports and sports betting. She will oversee compliance and enterprise risk management, ensuring adherence to U.S. and international regulations. Tim Dent transitions to Senior Vice President of Regulatory Operations. DraftKings aims to strengthen its compliance framework to support growth in the gaming sector.

DraftKings Inc. (DKNG) has expanded its agreement with the NFL to include Canada, enhancing offerings for daily fantasy sports (DFS) fans as the Super Bowl approaches. This partnership, originally established in September 2019, allows DraftKings to leverage NFL branding in Canada. The collaboration aims to provide innovative gaming experiences to Canadian sports fans, reflecting the growing popularity of DFS in the region. This strategic move is expected to deepen customer relationships and improve fan engagement with NFL content.