BOSTON, March 04, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (NASDAQ:DKNG) (the "Company" or "DraftKings") today announced that it has successfully closed on its senior secured term loan B credit facility in an aggregate principal amount of $600 million (the "Term Loan B"). The size of the Term Loan B was increased from the previously announced $500 million aggregate principal amount due to strong demand. The Term Loan B will mature in March 2032 and has an interest rate equal to the Secured Overnight Financi ...

BOSTON, March 03, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced that Jason Robins, the Company’s Chief Executive Officer and Co-founder, will participate in the following event: The Morgan Stanley Technology, Media & Telecom Conference. The fireside chat is scheduled for 3:20PM ET on March 4, 2025. Registration and the live audio portion of the Morgan Stanley Technology, Media & Telecom Conference can be accessed at the conference website or at Draft ...

DraftKings (DKNG) closed the last trading session at $44.27, gaining 7.7% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $57.16 indicates a 29.1% upside potential.The average comprises 31 short-term price targets ranging from a low of $35 to a high of $68, with a standard deviation of $7.44. While the lowest estimate indicates a decline of 20.9% from the current price level, the m ...

Core Viewpoint - DraftKings (DKNG) shows potential as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook and potential for continued stock price appreciation [1][2]. Estimate Revisions - Analysts have expressed growing optimism regarding DraftKings' earnings prospects, as evidenced by the upward trend in estimate revisions, which typically correlates with stock price movements [2]. - For the current quarter, DraftKings is expected to earn $0.25 per share, reflecting a remarkable increase of +183.33% compared to the same period last year. The Zacks Consensus Estimate has risen by 10.35% over the past 30 days [4]. - For the full year, the earnings estimate stands at $1.51 per share, representing a substantial change of +243.81% from the previous year. The consensus estimate has increased by 80.32% due to three upward revisions against one downward revision in the past month [5]. Zacks Rank - The favorable estimate revisions have led DraftKings to achieve a Zacks Rank 2 (Buy), indicating strong potential for outperformance compared to the S&P 500 [6]. - Historically, stocks with a Zacks Rank 1 (Strong Buy) and 2 (Buy) have shown significant outperformance, with Zacks 1 stocks averaging an annual return of +25% since 2008 [3][6]. Investment Outlook - DraftKings has experienced a 10.2% increase in stock price over the past four weeks, driven by strong estimate revisions, suggesting that there may still be further upside potential for investors [7].

Group 1 - DraftKings (DKNG) is a notable stock in the Consumer Discretionary sector, which consists of 265 individual stocks and ranks 4 in the Zacks Sector Rank [2] - DraftKings has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, with the consensus estimate for its full-year earnings increasing by 81.2% over the past 90 days [3] - Year-to-date, DraftKings has gained approximately 22.5%, significantly outperforming the average return of 10.2% for the Consumer Discretionary sector [4] Group 2 - The Gaming industry, which includes DraftKings, has 39 individual stocks and currently ranks 36 in the Zacks Industry Rank, with an average gain of 1.8% this year [5] - Fox Corporation (FOX), another stock in the Consumer Discretionary sector, has also outperformed the sector with a year-to-date increase of 15.9% and holds a Zacks Rank of 1 (Strong Buy) [4][5] - The Broadcast Radio and Television industry, to which Fox Corporation belongs, ranks 67 and has seen a gain of 12.2% this year [6]

Group 1 - The article emphasizes the importance of in-depth research in the casino and gaming sector, highlighting the availability of resources such as "The Smartest ever Guide to Gaming Stocks" for both existing members and new subscribers [1] - Howard Jay Klein, with 30 years of experience in major casino operations, leads an investing group called The House Edge, focusing on actionable research in the casino, online betting, and entertainment industries [2] - Klein's investment strategy is centered around value investing, utilizing management quality as a key factor in informing investment decisions [2]

Core Viewpoint - DraftKings is positioned for strong growth in 2025, supported by positive fourth-quarter results, a transition to profitability, and favorable market conditions [1][4][5]. Financial Performance - DraftKings reported a 37% year-over-year growth in monthly unique payers in the fourth quarter, indicating strong customer acquisition and engagement [3]. - The company achieved a full year of positive adjusted EBITDA and free cash flow, highlighting its financial health [2]. Analyst Ratings and Price Targets - Macquarie analyst Chad Beynon maintained an Outperform rating and raised the price target from $50 to $60 [1]. - Needham analyst Bernie McTernan reiterated a Buy rating and increased the price target from $60 to $65 [1]. Market Position and Strategy - DraftKings is viewed as the best large-cap play in the US online market due to its first-mover advantage, strong brand recognition among younger demographics, and superior technology [2]. - The company has a sustainable customer acquisition strategy that is expected to maintain its leading position in all states [8]. Future Outlook - Analysts expect DraftKings to achieve double-digit revenue growth and potentially double adjusted EBITDA by 2027 [5]. - The company is anticipated to benefit from lower promotional activity, improved hold rates, and additional state legalizations as catalysts for growth in 2025 [3][7]. Stock Performance - DraftKings stock has seen a 40% increase year-to-date in 2025, although it experienced a 5.3% decline to $50.64 recently [8].

Core Viewpoint - DraftKings Inc. has announced the launch of syndication for a proposed senior secured term loan B credit facility amounting to $500 million, intended for general corporate purposes, subject to market and other conditions [1]. Company Overview - DraftKings Inc. is a digital sports entertainment and gaming company, established in 2012, and is the only U.S.-based vertically integrated sports betting operator [2]. - The company offers a range of products including daily fantasy sports, regulated gaming, and digital media, and operates in 28 states, Washington, D.C., and Ontario, Canada [2]. - DraftKings is an official partner of major sports leagues including the NFL, NHL, PGA TOUR, WNBA, UFC, NASCAR, NBA, and MLB [2]. - The company also owns Jackpocket, a leading digital lottery app in the U.S., and operates iGaming under its DraftKings and Golden Nugget Online Gaming brands [2].

Group 1 - DraftKings Inc. is progressing towards becoming a leading U.S. online gambling giant, as indicated by strong user growth in the recent Q4 report [1] - The financial performance for the quarter was impacted negatively by adverse NFL results, which caused the financials to lag [1] - For the year 2025, DraftKings has provided guidance that suggests continued growth and expansion in the online gambling sector [1]

Group 1 - The earnings season has seen big momentum names, including DraftKings, continue to perform well, with DraftKings achieving a significant "beat and raise" [1] - DraftKings is recognized as a leading brand in the sports betting industry, benefiting from the current market trends [1] - The article highlights the author's extensive experience in technology and investment, indicating a well-informed perspective on industry developments [1]