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Gambling News - 'Draftkings'
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 […]

Legal
May 28, 2024
Former DraftKings Exec Appeals Court-Imposed Limits on New Role at Fanatics
Michael Hermalyn, a former employee of DraftKings, is challenging a federal judge’s imposition of considerable constraints on his new position at Fanatics, a rival sports betting company. The appeal against the ban, which has been filed with the 1st US Circuit Court of Appeals questions an order handed down by US District Judge Judith Cobick […]

Industry
May 27, 2024
An AI Revolution May Forever Transform the Gaming Industry
Artificial intelligence (AI) is becoming a transformative force in the gaming industry, with companies like DraftKings, Light & Wonder, and Marriott leveraging the technology to enhance their offerings and operational efficiencies. According to Jefferies Equity Research analyst David Katz, these firms stand at the forefront of AI integration in gaming and hospitality. AI Can Significantly […]

Industry
May 24, 2024
Rev. Sharpton Is Concerned about DraftKings and FanDuel’s Hegemony
The Reverend Al Sharpton, a civil rights activist, Baptist minister and founder of the National Action Network civil rights organization, has expressed his concerns about DraftKings and FanDuel’s disproportionate betting market share. In a letter to chair Lina Khan of the Federal Trade Commission, Sharpton requested an examination of the potential adverse effects this “gambling […]

Business
May 23, 2024
DraftKings Completes $750M Acquisition of Jackpocket
In February, DraftKings finalized a $750 million acquisition deal with Jackpocket, a prominent lottery app in America. The transaction has now been officially completed, cementing the former company as the owner of the leading lottery specialist. Jackpocket is an app that has been favored by millions of customers across the US. Thanks to its innovative […]
