DraftKings slides on concerns over more federal oversight [Seeking Alpha]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Seeking Alpha
In Washington, Senator Richard Blumenthal sent letters to DraftKings ( DKNG ) and Flutter Entertainment's ( FLUT ) FanDuel ( FLUT ) asking the companies to stop targeting gambling addicts. In particular, Blumenthal wants the online sports betting operators to change how they target VIPs and heavy bettors. Separately, New York Representative Paul Tonko said he is working on legislation that would impose federal oversight of online sports betting in any state that has legalized the business. "The bonuses and credits, the promotions and pitches, the VIP hosts. It has to be seen as a whole, and there may be aspects of it that should be prohibited or much more rigorously restricted," he warned. There was also a report from ESPN that NCAA President Charlie Baker wants prop bets on college athletes to be banned. In general, prop bets have higher hold rates (profitability) for online sports betting operators. Earlier in the day, DraftKings ( DKNG ) was added to the Conviction List at Nee
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DKNG
Earnings
- 2/15/24 - Beat
DKNG
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- DKNG's page on the SEC website