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Online Gaming

Gaming Software

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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

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Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

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DraftKings

DraftKings, Inc. provides online fantasy sports and sports betting services. It provides users with daily fantasy sports, sports betting and iGaming opportunities, and is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products. The company was founded on August 6, 2021 and is headquartered in Boston, MA.

Earnings data Q1 2021

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

DraftKings reports robust Q4 performance, eyes growth through innovation

DraftKings' strong Q4 2022 performance and focus on operational efficiency position the company for continued growth and profitability.
While facing industry competition and regulatory challenges, DraftKings leverages strengths in innovation and customer acquisition for market success.
Opportunities in revenue growth, international expansion, and product innovation align with DraftKings' strategic goals for sustainable market expansion.
Strategic responses to challenges and a focus on customer retention and operational excellence are key to DraftKings' future success in the dynamic market landscape.

DraftKings excels in Q1, eyes profitability and market leadership

DraftKings' strong financial performance, market leadership, and strategic focus on customer engagement position it well for continued success. With a clear roadmap for profitability, the company is leveraging unique sports wagering opportunities and product innovations to drive growth and navigate market challenges.

DraftKings reports stellar Q2 results, eyes growth amid challenges

DraftKings delivered a strong Q2 performance with revenue growth and positive adjusted EBITDA, driven by product enhancements and strong player engagement.
The company's focus on customer experience, product differentiation, and partnerships positions it well for future growth despite challenges like tax rates and expense management.
Opportunities lie in upcoming sports seasons, AI initiatives, and market expansion, highlighting DraftKings' potential for continued success and innovation.

DraftKings surpasses Q3 expectations, eyes iGaming growth opportunities

DraftKings' Q3 performance exceeded expectations, with strong revenue growth and positive EBITDA outlook for 2024. The company faces challenges in maintaining market share growth and managing revenue slowdown. Opportunities lie in iGaming expansion and product innovation.

DraftKings excels in revenue growth, eyes strategic acquisitions for expansion

DraftKings reports robust financial performance with revenue and EBITDA growth milestones.
Strategic acquisitions and customer-centric initiatives strengthen market position and engagement.
Challenges in Q4 and capital optimization efforts highlight areas for strategic focus.
Anticipated growth opportunities in product innovation, market expansion, and legislative developments.

DraftKings excels in Q1 2024, raises guidance amid market opportunities

DraftKings' strong financial performance in Q1 2024 reflects revenue growth, increased guidance, and a focus on operational efficiency. The company's strategic initiatives in product innovation, responsible gaming, and market expansion position it for sustained growth. Challenges in managing state launches and tax rate increases require proactive strategies.

DraftKings reports robust Q3 revenue growth and eyes Missouri expansion

DraftKings delivered strong revenue growth and margin improvement in Q3 2024, driven by Online Sportsbook and iGaming segments.
While facing challenges in achieving profitability and optimizing operational efficiency, the company remains agile in capitalizing on new market opportunities.
With a focus on expanding into Missouri, robust fiscal year 2025 guidance, and international market expansion plans, DraftKings is poised for continued growth and market leadership.

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DraftKings, Inc. is a digital sports entertainment and gaming company, which engages in the provision of online sports betting, online casino, daily fantasy sports product offerings, DraftKings Marketplace, retail sportsbook, media, and other consumer product offerings. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The Business-to-Consumer segment includes sportsbook, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes design and development of gaming software. The company was founded by Jason D. Robins, Matthew Kalish, and Paul Liberman on December 31, 2011 and is headquartered in Boston, MA.

BOSTON, July 15, 2024 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (the “Company” or “DraftKings”) today announced that it will release its second quarter 2024 results after the close of market trading on Thursday, August 1, 2024.

DraftKings to Release Second Quarter 2024 Results on August 1, 2024 and Host Conference Call on August 2, 2024

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Analysts are concerned about tax rate increases on sports gambling wins, but top operators have defenses in geography. DraftKings Inc. and FanDuel control 70% of the sports betting market share, with potential for consolidation of fringe sites. DraftKings expected to turn profitable by Q3 24, with potential for significant growth and profitability in the future.

DraftKings: State And League Tax And Fee Greed Do Not Challenge FCF Performance

Most of DraftKings' markets are just now fully ready to produce consistent operating income. Most state-level taxation of the betting business will remain profit-based at reasonable tax rates.

Is It Too Late to Buy DraftKings Stock?

In the latest trading session, DraftKings (DKNG) closed at $36.64, marking a -0.27% move from the previous day.

DraftKings (DKNG) Stock Drops Despite Market Gains: Important Facts to Note

Taxation has become a critical factor for the gambling industry in the United States, impacting operators' profitability and market strategies. According to a recent note from Berenberg, the introduction of progressive tax rates in Illinois has underscored the significant cost burden that taxes impose on gambling companies.

Taxation: The cost of doing business in the US gambling industry

DraftKings is a high-growth company with positive trends, making it a good long-term investment opportunity. The US online sports betting market is expected to grow at a 14% CAGR, creating an attractive industry for DraftKings and FanDuel. DraftKings is in a competitive position with FanDuel, showing potential for profitability and growth in the future.

DraftKings: A Bet On Growth And Potential Profitability In The Expanding Sports Betting Market

DraftKings Inc. stock appears to be a pointless investment due to recent volatility, but sticking with the thesis may lead to rewards. DraftKings Inc. is projected to grow at a 37% CAGR in 2024, with revenue expected to exceed $5 billion, driven by strategic acquisitions and innovation. Despite a net debt of approximately $400 million, DraftKings is expected to generate $500 million in free cash flow by early 2025, with a price target of $65 per share by summer 2025.

DraftKings Stock: Thrown Out With The Bathwater, Why I'm Long

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3 Online Sports Betting Stocks That Look Like Likely Winners

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DraftKings (DKNG) concluded the recent trading session at $37.67, signifying a -0.87% move from its prior day's close.

DraftKings (DKNG) Stock Falls Amid Market Uptick: What Investors Need to Know

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DraftKings' NASDAQ: DKNG quality business and healthy outlook are why the recent stock price correction was a buy-the-dip opportunity. The market had cause to correct; Illinois raising taxes on gaming companies is not a positive for the margin, but other factors, including AI, offset it.

DraftKings Stock: You Can Bet on New Highs This Year

The latest trading day saw DraftKings (DKNG) settling at $43, representing a -0.58% change from its previous close.

Here's Why DraftKings (DKNG) Fell More Than Broader Market

Sports betting has grown increasingly popular. While this industry has been around for decades, many states outlawed betting on sports, creating certain jurisdictions those looking to get in on the action would have to travel to.

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Despite concerns over where states will go on the issue of online sports betting, DraftKings stock is approaching yet another buy point.

DraftKings Stock Setting Up Despite Concerns Over Online Betting Taxes

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Dublin, June 18, 2024 (GLOBE NEWSWIRE) -- The "Sponsorship Sector Report - Gambling & Betting Americas 2024" report has been added to ResearchAndMarkets.com's offering. This report provides an overview of the gambling and betting sector across the Americas region. It explores all the main active brands in the sector as well as details the movement in the sector over the last few years in the sports sponsorship industry. American Football dominates the spend in the gambling and betting sector across the Americas region. American Football's top deal in terms of annual value is the NFL's partnership with Caesars Entertainment, worth an estimated $40 million annually. Soccer dominated the volume of deals in the gambling and betting sector across the Americas region with 117 deals and ranks second in terms of annual value. Basketball ranks in the top 3 sports for both annual deal value and deal volume in the gambling and betting sector across the Americas region, with the sports top 4 deals in terms of annual value all being with the NBA. The top deal in the gambling and betting sector across the Americas region is UFC's deal with DraftKings. UFC's partnership with DraftKings is worth a reported $350 million across 5 years. The NFL ranks second, third, and fourth in terms of largest annual deal values, with partnerships with FanDuel, DraftKings, and Caesars Entertainment, all are worth $40 million annually. Gambling and betting brands have focused their spend across the Americas region with teams and federations, making up almost 75% of the total spend in the sector. American gambling and betting brands dominate the sports sponsorship spend across the Americas. Gambling and betting brands with headquarters in the Americas region acquired 383 deals, accumulating to over $1 billion in annual value. BetMGM are the most active gambling and betting brand in sports sponsorship across the Americas region with 33 deals; The brands top deal is MGM Resorts partnership with MLB. The top 4 most active gambling and betting brands across the Americas region, Bet MGM, DraftKings, FanDuel, and Caesars Entertainment are also the top 4 biggest spenders.

Americas Gambling & Betting Sponsorship Sector Report 2024, with Case Studies on UFC and DraftKings

Shares of DraftKings (NASDAQ: DKNG ) stock are surging higher after the U.S. Supreme Court declined to hear the West Flager Associates's (WFA) case against the Seminole Tribe. In 2021, the tribe gained exclusive rights to online Florida sports betting under the notion that all sports betting occurs on tribal land because that is where the servers are located.

The 5 Biggest Buyers of DraftKings (DKNG) Stock

DraftKings (NASDAQ: DKNG ) is a thriving business, but that comes with a cost as some state-level legislators want a piece of that delicious fiscal pie. No worries, though, as DraftKings can still continue to succeed as a business enterprise and DraftKings stock has mega-rally potential.

Spin the Wheel! DraftKings Stock Is a Really Good Deal.

Leading sports betting company DraftKings Inc DKNG was sized up by an analyst in a new note with a look ahead at the impact of the acquisition of digital lottery company Jackpocket.

DraftKings Stock Can Overcome 'Wall Of Worry Around Various Regulatory Risks' Analyst Says: Sizing Up Illinois Taxes, Jackpocket Acquisition

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Needham analyst Bernie McTernan reiterated DraftKings Inc DKNG with a Buy and a $60 price target.

News for DraftKings Stock (DKNG)