Tuesday, June 29, 2021 8:12:33 AM
Samuel Smith
Jun 29, 2021, 06:55 AM
DraftKings Inc (DKNG) is a gaming and digital sports entertainment company with offerings that include sports betting, iGaming, and daily fantasy sports. It also engages in the development of casino gaming and sports betting software to facilitate online and retail sportsbook and casino gaming.
DraftKings divides its business pursuits into two business segments: Business-to-Business (B2B) and Business-to-Consumer (B2C), the latter of which generates the vast majority of the company’s revenue.
The main value for DKNG comes from its competitive positioning in the rapidly growing online gambling and U.S. sports betting industries, while also occupying a popular place in the larger fantasy sports industry.
In its most recent quarter, DKNG announced robust 175% revenue growth year-over-year while also significantly bolstering its balance sheet by issuing $1.1 billion in interest-free convertible notes due in 2028. Overall, in 2021 management is guiding for impressive 79% year-over-year revenue growth.
Long-term, management expects DraftKings to grow its $1.1 billion in estimated 2021 revenue by five to seven times, meaning that the company has a long growth runway ahead of it. (See DraftKings stock charts on TipRanks)
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Recent DKNG News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 12:16:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/07/2024 08:57:38 PM
- Form 424B7 - Prospectus [Rule 424(b)(7)] • Edgar (US Regulatory) • 06/07/2024 08:52:54 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 06/07/2024 08:05:46 PM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 06/06/2024 08:27:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 12:14:45 AM
- iPhone Sales Skyrocket in China, Nvidia Surges in Pre-Market Following xAI Fundraising, and More News • IH Market News • 05/28/2024 11:37:48 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/25/2024 12:01:08 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/23/2024 11:23:54 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 11:09:05 AM
- DraftKings Completes Acquisition of Jackpocket • GlobeNewswire Inc. • 05/23/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 08:32:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/08/2024 08:09:47 PM
- DraftKings Reports First Quarter Revenue Growth of 53% to $1,175 million; Raises 2024 Revenue Guidance Midpoint to $4.9 Billion and 2024 Adjusted EBITDA Guidance Midpoint to $500 Million • GlobeNewswire Inc. • 05/02/2024 08:15:00 PM
- Lori Kalani to Join DraftKings as First Chief Responsible Gaming Officer • GlobeNewswire Inc. • 04/22/2024 01:15:00 PM
- DraftKings to Release First Quarter 2024 Results on May 2, 2024 and Host Conference Call on May 3, 2024 • GlobeNewswire Inc. • 04/15/2024 08:30:00 PM
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- DraftKings Announces Jason Robins’ Participation in Upcoming Event • GlobeNewswire Inc. • 03/06/2024 09:30:00 PM
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