DraftKings stays on top with new technology

Article Excerpt

DraftKings keeps making the right moves to remain the dominant player in the expanding U.S. sports-betting market. Meanwhile, it holds $1.8 billion in cash, which will help it continue to prosper in the coronavirus-affected sports landscape—and beyond. DraftKings is a Power Buy for our Power Growth Investors. DRAFTKINGS INC., $58.78 is a Power Buy. The company (Nasdaq symbol DKNG; TSINetwork Rating: Extra Risk) (www.draftkings.com; Shares o/s: 789.3 million; Market cap: $46.4 billion; No dividend) is now acquiring Tel Aviv-based Blue Ribbon Software, an iGaming company that provides real-time gamification tools for customizable jackpot promotions. DraftKings plans to integrate BlueRibbon’s software, which combines marketing tools with deep data understanding. That will enhance DraftKings’ jackpot functionality and enhance the customer experience. Part of that includes the ability to personalize promotions and rewards for individual customers as well as for the jackpots DraftKings pays out. The company intends to fully integrate BlueRibbon’s leadership and current employee base, located in Tel Aviv, into its global workforce. In addition, DraftKings intends to increase hiring at its Tel…