DraftKings (DKNG) Gains Market Share in New York Betting Market

Core Insights - DraftKings Inc. (NASDAQ:DKNG) is recognized as one of the top sin stocks to invest in for 2026, with Benchmark maintaining a Buy rating and a price target of $37 for the company's shares as of December 1 [1] Group 1: Market Performance - In New York's sports betting industry, there has been a year-over-year growth with handle increasing by 12.7% and revenue rising by 16.2% compared to the same period last year [1] - DraftKings has reported a handle increase of 15.6% year-over-year and a revenue growth of 13.1%, despite a hold rate of 8.3% which is lower than the state average of 9.3% [2] - The overall positive trend in New York's sports betting market is attributed to a balanced model where FanDuel aids margin expansion while DraftKings drives handle growth [2] Group 2: Expansion Plans - DraftKings is set to expand its sports betting operations into Missouri, having received a temporary mobile sports wagering license from the Missouri Gaming Commission, allowing it to operate independently [3] - With this expansion, Missouri becomes the 29th state where DraftKings offers regulated sports betting [3] Group 3: Company Overview - DraftKings Inc. is a digital sports entertainment and gaming company that provides sports betting, digital lottery courier services, daily fantasy sports, and online casino games including roulette, slot machines, blackjack, and baccarat [4]