DraftKings (DKNG, $60.13) to acquire Vegas Sports Information Network
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 of live linear sports betting content each day. VSiN’s original content is also available on several video and audio channels including Comcast Xfinity, Sling TV, fuboTV, Rogers’ Sportsnet, MSG Networks, NESN, AT&T Pittsburgh, Marquee Sports Network, a channel on iHeartRadio and TuneIn, as well as terrestrial radio stations, and its many podcasts and betcasts.
Terms of the acquisition deal are not known yet.
DKNG's Stochastic Oscillator is sitting in oversold zone for 1 day
Be on the lookout for a price bounce soon.
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Notable companies
The most notable companies in this group are Las Vegas Sands Corp (NYSE:LVS), MGM Resorts International (NYSE:MGM), Wynn Resorts Limited (NASDAQ:WYNN), Melco Resorts & Entertainment Limited (NASDAQ:MLCO).
Industry description
Casinos/Gaming includes companies that operate casinos, gaming services, horse racing and harness racing facilities. Think Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts, Ltd. In periods of strong economic growth, consumers tend to spend on discretionary/leisure activities like gambling or games; but consumption is likely to slow down when there’s economic sluggishness.
Market Cap
The average market capitalization across the Casinos/Gaming Industry is 5.51B. The market cap for tickers in the group ranges from 152.98K to 38.96B. LVS holds the highest valuation in this group at 38.96B. The lowest valued company is ROBK at 152.98K.
High and low price notable news
The average weekly price growth across all stocks in the Casinos/Gaming Industry was -1%. For the same Industry, the average monthly price growth was -0%, and the average quarterly price growth was -5%. GLXZ experienced the highest price growth at 96%, while SLNA experienced the biggest fall at -34%.
Volume
The average weekly volume growth across all stocks in the Casinos/Gaming Industry was 366%. For the same stocks of the Industry, the average monthly volume growth was 306% and the average quarterly volume growth was 585%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 50
P/E Growth Rating: 67
Price Growth Rating: 63
SMR Rating: 72
Profit Risk Rating: 84
Seasonality Score: 0 (-100 ... +100)