Topic: How To Invest

Power Growth Investor Hotline – Friday, October 29, 2021

Article Excerpt

DRAFTKINGS INC., $46.59, is still a buy. The digital sports entertainment and gaming company (symbol DKNG on Nasdaq) currently provides sports betting in the states of Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, Wyoming and Arizona. Apart from sports betting, the company also lets customers pick athletes and build fantasy teams, competing across a range of professional sports. Other offerings include a mobile app for playing casino games such as blackjack and roulette. DraftKings announced this week that it is withdrawing its $25 billion offer to acquire U.K. online sports betting company Entain. Entain would have given DraftKings a fast way to expand into international gambling markets, given Entain’s licences to operate in 27 countries and its online technology. The acquisition would also have given DraftKings, a digitally focused company, a stake in physical betting shops through Entain’s U.K. locations. They operate under the Ladbrokes and Coral brands. Entain would most likely have…