Sports betting company DraftKings upped its bid for British gaming giant Entain to around $22.4 billion. DraftKings’ initial proposal was £25 per share for Entain; but that was quickly rejected, and it raised its bid to £28 per share -- a level that is more than double the $11 billion approach from MGM, Entain's U.S. joint-venture partner, earlier this year. MGM said it's the "exclusive...
Shares of sports betting company DraftKings rose Wednesday, following announcement of the company's plans to launch DraftKings Marketplace.
The marketplace will offer access to curated nonfungible-token releases and provide secondary-market transactions.The initial offering, called the Pre-Season Access collection, will feature NFTs from Autograph's athletes roster, which includes Tiger Woods, Wayne Gretzky, Derek Jeter, Naomi Osaka and Tony Hawk.
"The NFT boom has reinvented the collectibles industry and driven excitement to early-adopting audiences worldwide — including the DraftKings community,” said DraftKings co-founder and president Matt Kalish.
Sports-betting platform DraftKings reported first quarter results that was better than analysts’ expectations, on the back of strong revenue growth.
DraftKings’ adjusted loss for the quarter came in at - 36 cents a share, narrower than the -43 cents loss a share anticipated by analysts polled by FactSet.
The company’s revenue surged +252.6% from the year-ago quarter to $312.3 million, exceeding analysts' estimates of $236.2 million.
The number of monthly unique players was 1.5 million as of its first quarter, vs. 1.31 million expected by analysts (according to FactSet).It was boosted by increased engagement with its iGaming and mobile sports betting product offerings, as well as cross-selling, the company said.
Looking ahead, DraftKings boosted its fiscal 2021 revenue guidance from a range of $900 million to $1 billion to a range of $1.05 billion to $1.15 billion.
Sports betting company DraftKings Inc. shares got a buy rating at Guggenheim Securities that initiated coverage of the sports betting company with a $75 price target.
Guggenheim estimates suggest that the online sports betting and iGaming opportunity in North America will range between $7.6 billion and $10.6 billion when fully mature, with EBITDA margins of 30% or more.Doug Ducey (R.), as well as regulatory clearance.
Analyst Curry Baker said that in addition to legalization and the tailwinds from new states/markets, there are several other competitive advantages driving the firm’s positive outlook for DraftKings.
Golden Nugget Online Gaming shares got a buy rating from a Jefferies analyst who initiated coverage of the online gambling/sports entertainment company.
Analyst David Katz gave a $28 price target, citing “demonstrated leadership-level assets and capabilities."
"The magnitude and productivity prospects of the iGaming market have not been fully appreciated by [Wall] Street, ... and GNOG's positioning and product strength have been proven in New Jersey," Katz said.
According to Katz, Golden Nugget is a “compelling investment”.
On Tuesday, online sports-betting company DraftKings announced that it would acquire Vegas Sports Information Network. The latter is a sports-betting-content provider. The acquisition is expected to boost DraftKings’ content capabilities and will expand VSIN’s audience reach, as indicated by DraftKings. VSiN operates out of Las Vegas, and it develops, produces, and distributes up to 18+ hours...
Sports betting company DraftKings got price target hikes from analysts following Friday’s fourth quarter results. The company’s fourth-quarter revenue doubled from the year-ago quarter. It boosted its revenue estimates for 2021 to between $900 million and $1 billion, up from its previous view between $750 million and $850 million. Goldman Sachs analyst Stephen Grambling increased his price...
Sports-betting platform DraftKings reported fourth quarter earnings that exceeded analysts’ expectations. It also boosted its 2021 sales guidance on better than expected sports betting activity amid the pandemic. The company reported an adjusted loss of - 24 cents a share, compared to the loss of -42 cents a share anticipated by analysts polled by FactSet. Revenue rose to $322.2 million from...
On Tuesday, shares of sports gambling platform DraftKings jumped, following news of ARK Next Generation Internet ETF’s purchase of 620,300 shares. Run by fund manager Cathie Wood, ARK Next Generation owned 620,300 shares - nearly $34 million - of DraftKings as of Feb. 1. On Sunday, analyst Mike Hickey raised his price target for DraftKings shares to $66 from $60. Hickey has a Buy rating on...
Many gaming companies are struggling due to the restrictions on occupancy in public buildings. Large casinos have had to operate with considerably lower floor traffic than they are used to and would like. The earnings and revenue estimates for the industry have been ratcheted down as a result of the restrictions. The stocks get hit hard during the first quarter of 2020, but most are trading...
On Thursday, DraftKings shares got a buy rating and Wall Street-high price target of $70 a share at Needham.
Needham analyst Brad Erickson initiated coverage of the sports betting company’s stock on Thursday.It views the company as one of the leading beneficiaries from online sports betting’s taking off in the U.S. – an opportunity that Needham estimates to be between $42 [billion] and $58 billion annually longer term.
According to Erickson, online providers' access to data creates a structurally better user experience vs. brick and mortar.
DraftKings posted a second quarter loss that was wider than anticipated by analysts.The current price now trades in the range of 9.06% of the opening price.
The upper rail of the cycle is in the same area as the 50-day moving average and that means the stock has two layers of resistance to break through.
Something else to take note of is how the daily stochastic readings have only reached overbought levels in two instances over the last six months.Both times were when the stock was at the top of the channel.
In addition to the technical pattern that has been guiding the stock lower, the fundamentals are pretty poor.