DraftKings Inc. (DKNG) is set to report its third-quarter earnings on Thursday, with analysts expecting strong revenue growth driven by the NFL season and new state legalizations. Key areas to watch include the company’s performance in the NFL betting market, guidance on the future of sports betting, and updates on its recent acquisition of Jackpocket.
Bank of America analyst Shaun Kelley expects DraftKings to deliver positive surprises in its third-quarter earnings report, highlighting growth opportunities in revenue expansion, hold improvement, and reduced promotional spending. However, the analyst also acknowledges concerns about app download slowdown and unfavorable NFL outcomes.
The Zacks Gaming industry is experiencing a surge, driven by macroeconomic tailwinds, particularly the Federal Reserve’s interest rate reduction and surging demand for sports betting. The industry is seeing increased visitation and spending, especially from younger demographics. Learn about the key trends shaping this thriving sector and discover top-performing gaming stocks like Flutter Entertainment, DoubleDown Interactive, and GDEV.
PENN Entertainment exceeded expectations with its preliminary third-quarter results, highlighted by strong performance in its interactive segment. The company’s recent product improvements and reduced promotional expenses are driving growth, particularly in the sports betting and media space. The upcoming integration with ESPN in November is expected to be a major catalyst for customer acquisition and engagement.
DraftKings Inc. (DKNG) stock has soared in recent weeks, driven by strong customer growth, new product features, and a bullish outlook for the online gaming industry. The company is benefiting from increased new customer sign-ups and improved product offerings like in-house player prop bets and broader progressive parlays. Despite its strong performance, DraftKings is facing challenges from rising marketing and promotional costs, which could impact short-term profitability.
DraftKings stock is soaring, likely due to Flutter Entertainment’s positive 2027 guidance. Both companies operate in the online sports betting and iGaming sector, and Flutter’s optimistic outlook is influencing investor sentiment, pushing DraftKings shares upwards.
Online sports betting and iGaming giant Flutter Entertainment has announced ambitious plans for growth, projecting revenue of $21 billion by 2027, alongside a $5 billion share buyback program. The company’s optimistic outlook is fueled by the expanding regulated gaming market and its strategic acquisitions, particularly in the United States.
The Major League Baseball Players Union has filed a lawsuit against DraftKings and Bet365 for using players’ images without permission, potentially impacting the way sportsbooks market player props and the use of player names and images in advertising. The lawsuit alleges violations of Pennsylvania law and seeks damages and a stop to the use of player images.
Sportsbooks, including DraftKings, enjoyed a second consecutive week of favorable outcomes during the NFL season, as underdogs won over 50% of games. Analyst Bernie McTernan maintains a Buy rating on DraftKings, highlighting its strong market position and growth potential in the burgeoning North American online gambling market.
DraftKings, a major sports betting company, saw its app climb the app store rankings and enjoyed a successful first week of the NFL season thanks to favorable betting outcomes and the addition of the BetVision streaming service. Analyst Bernie McTernan of Needham maintains a Buy rating on DraftKings stock.
