DraftKings $DKNG Explosive Revenue Growth, Sportsbook to Launch in Louisiana

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DraftKings forecasted 5-year revenue is 55% a year! The revenue has grown by a stunning 170.60% in the last year.

DraftKings Mobile Sportsbook Set to Launch Friday in Louisiana

On January 26th, 2022, following the opening of a new retail sportsbook in Louisiana alongside Golden Nugget Casino Lake Charles, DraftKings Inc. (Nasdaq: DKNG) will expand its relationship with Golden Nugget Casino Lake Charles when it launches mobile sports betting for eligible customers in the state’s permitted parishes starting 8 am CT on Friday, January 28th. Louisiana becomes the 17th state to offer DraftKings’ online sportsbook, and the company is now live in 18 states including retail-only jurisdictions. With several professional franchises in addition to Division I collegiate athletics, there are ample hometown fanbases and opportunities in Louisiana to engage.

“There have been several DraftKings developments in Louisiana in the last year alone, including the debut of our daily fantasy products and retail sportsbook, and this latest online sportsbook launch is another significant milestone,” said Matt Kalish, co-founder and president of DraftKings North America. “Although Louisiana bettors have previously been able to place wagers in person at our Golden Nugget Casino Lake Charles location, the arrival of mobile betting greatly enhances accessibility and adoption potential within the Pelican State.”

Since the Louisiana retail sportsbook launch in November 2021, NFL teams have been the most popular among local bettors with the Tampa Bay Buccaneers, Dallas Cowboys, Kansas City Chiefs and Los Angeles Rams taking the most action. A five-team NFL parlay during Week 17 stands as the largest winning wager among Louisiana retail bettors where a $1,000 wager netted $72,000 in winnings. DraftKings’ football wagering popularity also reigns at the collegiate level as the 2022 College Football National Championship between Georgia and Alabama on January 10th ranks as the most heavily bet event to date.

As with all states, including Louisiana, responsible gaming is a key pillar of the DraftKings SERVES program. DraftKings is an active member of the American Gaming Association (AGA) and the National Council on Problem Gambling (NCPG), and has tools like self-imposed player limits, identity verification and geolocation to ensure all customers are provided with a secure and safe gaming experience.

For eligible sports fans in Louisiana interested to learn more or check out mobile betting firsthand following this online sportsbook launch, please visit https://www.draftkings.com or download the DraftKings app via iOS or Android

DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings’ daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

DraftKings upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Thomas Allen upgraded DraftKings to Overweight from Equal Weight with an unchanged price target of $31. Allen tells investors in a research note that the stock’s recent pullback presents an opportunity to invest for the long term. Investors “should not ignore” that DraftKings is a leading player in what will be a huge and profitable US sports betting and internet gaming market, writes the analyst. He says data from New York’s first several days of legal sports betting remind how big the opportunity is, with the implied market revenue run rate well ahead of Morgan Stanley’s previous expectations.

NFL Divisional Round averages 38.2M viewers, ESPN reports

On January 25th, 2022, the National Football League’s Division Round playoff games, which aired this past weekend, averaged 38.2M viewers on television and digital platforms, resulting in a duplicated total of over 152M viewers, ESPN’s Adam Schefter reports. The 38.2M average marks the highest average for that playoff round to date, Schefter notes. The games were broadcast on CBS (VIAC), Fox (FOXA), and NBC (CMCSA). Companies in the sports betting space include Accel Entertainment (ACEL), Bally’s (BALY), Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (PDYPY), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN), Rush Street Interactive (RSI), Scientific Games (SGMS), Score Media (SCR) and Wynn Resorts (WYNN). Source: https://twitter.com/AdamSchefter/status/1486075015292411908

📺 Sports Betting And The Rise Of DraftKings

Sports Betting And The Rise Of DraftKings

📉 DKNG Stock Technical Analysis

DKNG stock chart as of January 26, 2022, in downtrend.

Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. DKNG is part of the Hotels, Restaurants & Leisure industry. There are 137 other stocks in this industry, of which 87% are performing better than DKNG. DKNG is currently trading near the lower end of its 52-week range, which is not a good sign. DKNG is lagging the S&P500 Index which is trading in the middle of its 52-week range. Volume is considerably higher in the last couple of days.

There is resistance at 25.66 from a trend line in the daily time frame. There is also resistance at 50.65 from a horizontal line in the daily time frame.

The technical rating of DKNG is bad and it also does not present a quality setup at the moment. DKNG stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when DKNG stock consolidates and has a Setup Rating of 8 or better.

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