DraftKings Expands Its Buyback Program: What's Driving the Shift?

Key Takeaways DraftKings expanded its share repurchase authorization from $1B to $2B and has bought back 9.3M shares.Management stated the larger buyback reflects business progress and better cash flow visibility.Buybacks will likely scale with free cash flow as DraftKings continues investing in products and technology.DraftKings Inc. (DKNG) is taking a more visible step toward shareholder returns, with management announcing an expansion of its share repurchase authorization from $1 billion to $2 billion du ...