Topic: How To Invest

Power Growth Investor Hotline – Friday, September 25, 2020

Article Excerpt

DRAFTKINGS INC., $53.19, is a buy. The digital sports entertainment and gaming company (symbol DKNG on Nasdaq) provides sports betting in the states of Colorado, Indiana, New Jersey, Iowa, Mississippi, New Hampshire, New York, Pennsylvania, and West Virginia. Apart from sports betting, the company lets customers pick athletes to build fantasy teams across a range of professional sports. Other offerings include a mobile app that lets users play casino games, such as blackjack and roulette. Note, that particular product is currently only available in New Jersey. DraftKings began trading on the Nasdaq exchange on April 24, 2020. The company has now entered into a key multi-year agreement with ESPN. It has yet to disclose financial terms of the deal. However, as part of the agreement, DraftKings will be the exclusive provider of daily fantasy sports and a co-exclusive partner for gambling link-outs from ESPN. Disney-owned ESPN holds broadcast rights to most of the major U.S. sports, including the National Basketball Association (NBA) and the National…