DraftKings expands in key U.S. state

Article Excerpt

DRAFTKINGS INC., $21.40, is a buy. The company (Nasdaq symbol DKNG; TSINetwork Rating: Extra Risk) (www.draftkings.com; Shares o/s: 789.3 million; Market cap: $17.7 billion; No dividend) launched its mobile and online sportsbook in New York on January 8, 2022. The launch came ahead of the NFL Playoffs, one of the busiest periods for betting activity. New York state officially authorized mobile and online sports betting in April 2021. Now, bettors in New York will be able to place bets online, rather than just in person. DraftKings should remain the dominant player in U.S. sports betting—and its launch in big new markets adds to its appeal. DraftKings is a buy. a buy…

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