Topic: How To Invest

Power Growth Investor Hotline – Friday, September 24, 2021

Article Excerpt

DRAFTKINGS INC., $51.33, 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. The company is now making a $25 billion offer to acquire U.K. online sports betting company Entain. DraftKings bid earlier this year was rejected. Its new offer is an increase of 12%. Entain would give 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 give DraftKings, a digitally focused company and a stake in physical betting shops through Entain’s U.K. locations. They…

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