Stock of the Day for January 29, 2025

DraftKings Stock Report

DraftKings
DKNG 90-day performance NASDAQ:DKNG DraftKings
Current Price
$45.57
-3.87 (-7.83%)
(As of 02/21/2025 04:00 PM ET)
30 Day Performance
10.23%
  
 
90 Day Performance
5.98%
  
 
1 Year Performance
10.39%
  
 
Market Capitalization
$22.33B
Price Target
$54.26
Net Income
-$507.29M

About DraftKings

DraftKings Inc. is a digital sports entertainment and gaming company serving industry and gamers alike. The company offers multi-channel sports betting and gaming technologies that are used by sports and gaming entertainment operators in 17 countries. In the U.S., the company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

DraftKings is headquartered in Boston, Massachusetts, and is the only vertically integrated online gambling platform headquartered in the US and targeting US gamers. The company was founded in 2011 by three close friends and went public in 2020 with a listing on the NASDAQ stock exchange. The initial offering is noteworthy because the company went public via merger with a SPAC formerly known as Diamond Eagle Acquisition Company.

Draftkings is run by Jason Robins, Matt Kalish, and Paul Liberman. The three started as friends but turned into cofounders, entrepreneurs, and corporate executives. Robins is CEO and in charge of corporate operations while Kalish and Liberman are president of DraftKings North America and Global Technology and Product respectively. Together, they manage a team of 10 executives and a network of 14 locations including 8 outside the US.

The company began as a dream to improve fantasy sports leagues. The goal was to change the way fantasy sports were played and open the door to a host of new gaming opportunities. The product was first launched in 2012 and now the company’s daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories.

Draftkings sets itself apart from the average fantasy sports provider by not only offering the widest selection of sports but the most control for the players. Players can re-draft new line-ups at will for most sports and there are daily contests within each league. The idea is for players to have a chance to win on a seasonal, quarterly, monthly, weekly, and daily basis.

DraftKings Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The Sportsbook connects sports fans with legal sports betting operations in states with legalized gambling.

DraftKings expanded its offering with the launch of DraftKings Casino. DraftKings Casino is home to all the favorite table and slot-machine games but in a digital format. The Casino games are available on desktop and mobile like all of DraftKings offerings making them easily accessible to players.

In addition to gaming and sports betting, DraftKings is banking on the cryptocurrency revolution with DraftKings Marketplace. DraftKings Marketplace is a digital collectibles ecosystem designed for easy use that offers curated NFT drops and secondary-market transactions.

DraftKings SPAC merger included the addition of SBTech, a sports betting technology platform. DraftKings sports betting and casino technologies are available as a white-lable for businesses through this platform. SBTech offers an end-to-end solution including the gaming platforms and back-office services.

DraftKings also owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. Vegas Sports Information company can be accessed online or screened on live TV featuring world-renown sports commentators, players, and coaches.

DKNG Company Calendar

FEB. 13, 2025
Last Earnings
FEB. 23, 2025
Today
MAY. 1, 2025
Next Earnings (Estimated)
DEC. 31, 2025
Fiscal Year End

Recent DraftKings News

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Ieq Capital LLC Sells 9,641 Shares of DraftKings Inc. (NASDAQ:DKNG)
DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Rhumbline Advisers
Casino Stocks To Add to Your Watchlist - February 19th
DraftKings Stock Analysis: Buy, Hold, or Sell?
Truist Financial Raises DraftKings (NASDAQ:DKNG) Price Target to $60.00
Wells Fargo & Company Raises DraftKings (NASDAQ:DKNG) Price Target to $60.00
This report was written by MarketBeat.com on January 29, 2025 and updated on February 23, 2025. This report first appeared on MarketBeat.com.