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Business
January 6, 2025
DraftKings Hit by Q4 Losses, But Long-Term Growth Stays on Track
DraftKings, a big name in the US online sports betting and gaming scene, ran into some snags in the fourth quarter of 2024 because of unpredicted sports results. A January 2 note from JPMorgan analyst Joseph Greff pointed out that the company saw a big drop in revenue as betting favorites and multi-game parlays did […]
Business
January 2, 2025
DraftKings Shares Underperform amid Insider Selling
DraftKings Inc. had a tough December, with its shares falling 10.62% over the last month. This underperformance contrasts the broader market, with the Consumer Discretionary sector down just 0.11% and the S&P 500 Index up 0.4%. Retail investors are also unhappy due to 2024’s significant insider stock selling, which did not help DraftKinds’ shares. DraftKings […]
Legal
December 27, 2024
DraftKings Settles Dispute with Ex-Executive Over Fanatics Move
DraftKings has ended its legal fight with Michael Hermalyn, a former executive who faced accusations of breaking non-compete clauses and stealing trade secrets when he jumped ship to join Fanatics. The deal closes lawsuits filed in Massachusetts and California, which focused on Hermalyn’s switch to the competing company in early 2024. Hermalyn’s Transition to Fanatics […]
Legal
December 26, 2024
DraftKings Faces Legal Action over Alleged Unlawful Account Deactivations
DraftKings Inc., a prominent name in online sports betting, is now the target of a class-action lawsuit filed in the US District Court for the District of Massachusetts. Plaintiffs accuse the operator of allegedly defrauding customers by unlawfully deactivating user accounts and retaining their balances, potentially exposing a widespread issue within the company’s operations. The […]
Sports
December 23, 2024
DraftKings Seeks Full Five-Year Sports Betting License in Massachusetts
DraftKings has taken its first step toward securing a full five-year sports betting license in Massachusetts. The Massachusetts Gaming Commission (MGC) held an adjudicatory hearing lasting more than five hours, evaluating the company’s suitability and potential compliance challenges. Additional talks in February 2025 should help answer any lingering questions and allow DraftKings to proceed with […]
Business
December 20, 2024
FanDuel Reclaims Dominance in US iGaming for November
There are currently two betting and gaming companies in the United States that dominate the iGaming and sports betting vertical. That’s the case of DraftKings and FanDuel with each competing not only against other rivals but against each other. On the heels of a recently requested antitrust investigation into the duo, an expert analyst highlighted […]
Legal
December 17, 2024
Unhappy Client Takes DraftKings to Court over Data-Sharing Violation
A DraftKings client has filed a lawsuit against the company, alleging that the American operator committed severe data violations. According to the plaintiff, the gambling company unlawfully provided data regarding his behavior on social media to Facebook. DraftKings Transferred Data Without Its Customers’ Consent According to the class action, which was filed on Friday in […]
Legal
December 9, 2024
DraftKings Faces Lawsuit Over Alleged Exploitation of Problem Gambler
DraftKings now faces a legal challenge from Lisa D’Alessandro, whose estranged husband, a resident of New Jersey, gambled away close to $1 million of their family’s money on the platform. Wife Claims DraftKings VIP Program Fueled Husband’s $15M Betting Spiral The legal action alleges that the company played a role in fueling her husband’s gambling […]
Industry
December 9, 2024
Senators Demand Antitrust Investigation into FanDuel and DraftKings
Two US senators, Mike Lee (R-Utah) and Peter Welch (D-Vt.), have asked federal regulators to look into possible antitrust rule-breaking by top online sports betting sites FanDuel and DraftKings. Lawmakers Urge FTC and DOJ to Investigate Potential Collusion Between FanDuel and DraftKings The lawmakers sent a letter on December 5 to the Federal Trade Commission […]
Sports
December 4, 2024
DraftKings CEO Highlights Dominance and Future of US Online Sports Betting
DraftKings CEO Jason Robins feels sure his company together with FanDuel, will keep their top spots in the US online sports betting market. At Craig-Hallum’s 4th Annual Online Gaming Conference, Robins talked about the industry’s problems and changes while stressing DraftKings’ toughness and long-term plans. Robins Discusses Upstart Brands and the Resilience of DraftKings and […]