2 Sports Betting Stocks to Watch Amid Olympics, Earnings
The widespread legalization of sports betting is breathing new life into the Paris 2024 Olympics.
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of DraftKings Inc. - DKNG
NEW YORK, NY / ACCESSWIRE / August 7, 2024 / Pomerantz LLP is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or the "Company") (NASDAQ: DKNG). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext.
DraftKings Inc. (DKNG) Is a Trending Stock: Facts to Know Before Betting on It
DraftKings (DKNG) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
These Analysts Lower Their Forecasts On DraftKings After Q2 Results
DraftKings Inc. DKNG reported mixed second-quarter financial results, after the closing bell on Thursday.
DraftKings Cuts Profit Outlook, Will Charge Some Bettors an Extra Fee
Shares of DraftKings (DKNG) tumbled Friday after the online sports gambling platform cut its profit forecast and announced it would put a surcharge on winnings for bettors in high-tax states as a way to boost earnings.
DraftKings Slides on Forecast, Debuts Gaming Tax Surcharge
The sports gaming industry is at a crossroads, with technological innovation, regulatory changes, and consumer habits all combining to drive rapid evolution. And all three of those themes were central to executive commentary during DraftKings' second-quarter 2024 earnings call Friday (Aug. 2).
DKNG Stock Alert: DraftKings Announces Gaming Tax Surcharge
DraftKings (NASDAQ: DKNG ) caught DKNG stock investors off guard on Friday when the sports betting company announced a new gaming tax surcharge in its latest earnings report. During that report, DraftKings cofounder and CEO Jason Robins revealed plans to implement a gaming tax surcharge.
DraftKings Reports Q2 Miss, Analysts Wonder If Surcharges On Winnings Are A 'Gamble'
Shares of DraftKings Inc DKNG tanked in early trading on Friday, after the company reported its second-quarter results.
DraftKings Inc. (DKNG) Q2 2024 Earnings Call Transcript
DraftKings Inc. (NASDAQ:DKNG ) Q2 2024 Earnings Conference Call August 2, 2024 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder and Chief Executive Officer Alan Ellingson - Chief Financial Officer Conference Call Participants David Katz - Jefferies Shaun Kelley - BofA Stephen Grambling - Morgan Stanley Joe Greff - JPMorgan Clark Lampen - BTIG Robert Fishman - MoffettNathanson Ben Miller - Goldman Sachs Robin Farley - UBS Dan Politzer - Wells Fargo Joe Stauff - Susquehanna Carlo Santarelli - Deutsche Bank Bernie McTernan - Needham & Company Jed Kelly - Oppenheimer Barry Jonas - Truist Brandt Montour - Barclays Jordan Bender - Citizens JMP Ryan Sigdhal - Craig-Hallum Capital Group Michael Graham - Canaccord Genuity Chad Beynon - Macquarie Jeff Stantial - Stifel Lance Vitanza - TD Cowen Operator Good day, and thank you for standing by. Welcome to DraftKings' [First Quarter] (sic) Second Quarter 2024 Earnings Call.
Why DraftKings Stock Is Sinking Today
DraftKings beat earnings expectations and narrowly missed Wall Street's sales target in Q2. Even though the company raised its full-year sales target, it significantly reduced its adjusted EBITDA forecast.
DraftKings: Another Step Closer Into A Profitable Giant
DraftKings reported Q2 earnings in line with expectations, growing well and expanding profitability through scaling operations. The 2024 outlook was revised into more aggressive revenue growth but lower adjusted EBITDA with multiple underlying factors under the change. The company continues improving its underlying financials from the incredibly high CAC in prior years, and is well on track to achieve its longer-term targets.
DraftKings to tax winning bets in high-rate states in a bid to boost profit
DraftKings is planning a tax on consumers in states with the highest sports betting tax rates, as the company looks to boost profit. Starting next year it will implement a gaming surcharge on winning bets in states with multiple betting operators and where the tax rate is above 20%.
