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Business
June 21, 2024
JP Morgan Highlights DraftKings’ Growth Prospects
Across the United States, DraftKings currently holds a leadership role in a number of markets. As one of the two major operators in the country that hold an overwhelming majority of the market share, the company constantly grows its presence and customer base. This ongoing growth did not go unnoticed with one industry expert confirming […]
Sports
June 18, 2024
Barstool’s Boss Portnoy Wins $1.6M on Celtics Parlay Bet with DraftKings
Barstool Sports’ boss and passionate bettor, Dave Portnoy, is recognized for his hefty wagers on major sports events. Earlier this year, the seasoned bettor was able to turn a $600,000 wager into a massive $2.76 million win after the UConn Huskies won against the Purdue Boilermakers. Sharing his excitement via X, formerly Twitter, Portnoy wrote […]
Business
June 18, 2024
Morgan Stanley Thinks Forecasted Buyback Will Boost DraftKings’ Shares
Earlier in the month, Morgan Stanley‘s analyst, Stephen Grambling, and his colleagues spoke about DraftKings’ impressive market growth and well-balanced promotional environment, giving the US-based vertically integrated sports betting operator a favorable outlook. Now, analysts from the same NYSE-listed leading global financial services firm are projecting a strong rest of the year for the operator, […]
Industry
June 18, 2024
JMP: DraftKings Cannibalized Fanatics’ Market Share in May
Equity research specialist JMP Securities has published its US sports betting report for May, outlining slight market changes. According to the firm, DraftKings’ market share soared that month, although the company was still unable to surpass FanDuel. As data from Indiana, Iowa, Maine, Maryland, New Jersey, New York and Kansas shows, operators recorded a 72% […]
Business
June 14, 2024
DraftKings Continues to Grow as SPAC Businesses Decline
DraftKings has defied the odds, becoming one of the most successful companies to go public through a merger with a special purpose acquisition company (SPAC). While many businesses that adopt a similar approach have met the inglorious reality of low returns, the operator has firmly cemented itself as one of the business leaders in North […]
Business
June 12, 2024
FanDuel and DraftKings Retain Dominance, Oust Competitors
Since the repeal of PASPA six years ago, sports betting expanded across the United States. This expansion helped create a healthy and competitive market. Although there are plenty of licensed operators, the unquestionable leaders remain FanDuel and DraftKings. The duo, cumulatively held a 73% handle share in April, according to Truist’s expert analyst Barry Jonas, […]
Sports
June 11, 2024
DraftKings Receives Boost from Morgan Stanley’s Favorable Outlook
Morgan Stanley has highlighted DraftKings as a top pick within the North American gaming sector, indicating a favorable outlook for the sports betting giant. This positive sentiment arises despite recent challenges, such as the new tax legislation in Illinois. DraftKings Shows Resilience Amid Tax Challenges in Illinois Analyst Stephen Grambling and his team at Morgan […]
Business
June 5, 2024
DraftKings Arrives on BofA’s US 1 List Despite Slight Dip in Stock Price
Over the last month, a decrease was observed in DraftKings’ stock price. Trading at $35.52 as of the market close on Tuesday, the price marked a 19.40% decrease in the last month alone. Despite the weak performance, DraftKings was recently added to the Bank of America’s US 1 List, a list that gathers some of […]
Business
May 29, 2024
Analyst Keeps Positive Outlook on FanDuel Parent Company Flutter
A wide range of factors can impact the performance of gaming and betting operators, especially across the United States. While increased promotional spending may boost the operators’ expenses, much-anticipated sports events can increase revenue and enable betting operators to engage with new customers. Earlier this month, Flutter Entertainment, the leading betting and iGaming operator with […]
Sports
May 28, 2024
DraftKings to Venture into Micro-Betting as Simplebet Acquisition Buzz Grows
It appears that DraftKings, a major player in sports betting and online gaming, may be broadening its horizons with rumors circulating about an imminent purchase of Simplebet, a provider renowned for its micro-betting services. People close to the situation allege negotiations are ongoing with the price said to be ranging anywhere from $120 million to […]