Draftkings Inc Stock Price, News & Analysis

DraftKings Inc. (Nasdaq: DKNG) has been named the exclusive Official Daily Fantasy Sports Partner of the Charlotte Hornets, enhancing its visibility in North Carolina. The multi-year deal includes access to Hornets trademarks, LED signage at Spectrum Center, and joint social promotions. A free-to-play Hornets-themed predictive game will also be developed within the team's mobile app. This partnership aims to provide engaging experiences for fans, marking a significant collaboration between the two brands.

DraftKings announced the release of its fourth quarter and year-end 2020 results on February 26, 2021, at 8:30 AM EDT. A conference call will follow to discuss these results. The earnings press release and other materials will be accessible via DraftKings' investor relations website, where an audio webcast and Q&A session will also take place. DraftKings operates as a digital sports entertainment and gaming company, offering products like daily fantasy sports and sports betting across multiple jurisdictions in the United States and internationally.

DraftKings Inc. has launched its sportsbook in Virginia, marking its 12th state launch. The launch arrives just before Super Bowl LV, with promotions including a Double Your Money betting opportunity. Virginia customers can bet on over 250 leagues, including NFL and NBA, with security measures in place for responsible gaming. A consumer study indicates strong preference for NFL betting in Virginia. DraftKings is the only U.S.-based vertically integrated sports betting operator, serving markets across numerous states.

DraftKings is set to launch its mobile Sportsbook and Casino app in Michigan on January 22, 2021, marking a key expansion in the state. This launch follows a successful year that saw DraftKings enter new markets, reaching a total of 11 states. The partnership with Bay Mills Resort and Casino will enhance access to sports betting and iGaming options such as blackjack and slots. Promotions will accompany the launch, including double your money opportunities on sports bets. DraftKings remains a leader in the digital gaming space, continuing to innovate and expand its offerings.

DraftKings partners with Bleacher Report for an exclusive Super Bowl prop betting reveal show on January 25, 2021. The show, titled B/R Drop Zone: DraftKings Big Game Prop Reveal, will feature expert insights, celebrity guests, and the unveiling of 40 prop bets across five categories. Hosted by Cabbie Richards and Greg Ivory, the event highlights DraftKings’ innovative betting offerings, aiming to engage an audience of millions. More than 200 prop bets will be available, along with a free-to-play $55 Million Super Bowl Prediction Challenge, enhancing DraftKings' market position.

In 2020, the online sports betting industry experienced significant growth, and 2021 is expected to be crucial for its expansion. Key markets in the US and Europe are seeing legalization, which coincides with a rise in consumer interest. Companies like Bragg Gaming Group (TSXV:BRAG), DraftKings (NASDAQ:DKNG), Penn National Gaming (NASDAQ:PENN), and Esports Entertainment Group (NASDAQ:GMBL) are capitalizing on these opportunities. Bragg's recent partnership in the Netherlands and DraftKings' 98% revenue increase to $133 million underscore the industry's potential as it adapts to emerging markets.

The Drone Racing League (DRL) has partnered with DraftKings (Nasdaq: DKNG), becoming the first aerial sporting event where fans can place bets. As mobile sports betting gains traction, the deal allows wagering in states like Colorado, New Hampshire, and New Jersey. DraftKings has seen a significant interest in betting on DRL, with over 150,000 entries in a free-to-play pool during the 2020 season. The partnership includes exclusive marketing rights and promises engaging betting experiences around live races, starting January 9th on NBC and social media.

DraftKings and InComm Payments announce a strategic partnership to launch an industry-first retail gift card, enhancing DraftKings’ consumer payment options. Available at popular convenience stores like 7-Eleven and Dollar General, these gift cards will be offered in $25 and $50 denominations, allowing users to gift the DraftKings experience. This initiative is part of DraftKings' strategy to expand its retail presence and facilitate customer account funding, aligning with the company's growth in the digital sports entertainment sector.

DraftKings has secured a multi-year partnership with the Nashville Predators to become the official daily fantasy sports provider and sports betting operator. This collaboration coincides with the launch of DraftKings’ mobile sportsbook app in Tennessee. Predators fans will enjoy a deposit bonus of up to $1,000 upon signing up. DraftKings branding will be prominently featured at Bridgestone Arena during games and through digital content, enhancing fan engagement. The partnership aims to enrich the sports betting experience for audiences in Tennessee.