DraftKings, Inc. (DKNG) is a leading digital sports entertainment and gaming firm with a presence in 17 countries. The company offers innovative sports betting and gaming technologies through its DraftKings brand, which is available in 5 states for iGaming. It also operates Golden Nugget Online Gaming, a well-known iGaming brand and product, in 3 states. With mobile and retail betting options in 18 states, DraftKings’ Sportsbook is fully operational and compliant with regulations. The company’s daily fantasy sports product is accessible in 6 countries and covers 15 sports categories. Furthermore, DraftKings offers the DraftKings Marketplace, a digital collectibles platform that offers carefully selected NFT drops and supports secondary-market transactions. It also owns Vegas Sports Information Network (VSiN), a multi-platform content and broadcast company. DraftKings was established in 2011 and is based in Boston, Massachusetts.
as of February 11, 2023
Tomorrow is Super Bowl Sunday and of course there are plenty of degenerates out there placing bets. Stick to that and avoid DraftKings for the time being, especially as a long-term investment. Maybe the company will get its act together an start cutting SG&A costs which run at 300% of the company’s gross profit. It’s definitely the brand name in sports betting, but an $7 billion cap is still too high.
