DKNG changes
Pick any two versions below to diff them.
- Price
- $23.11 → $19.64(−15.0%)
- Discount category
- Well below intrinsic value → Far below intrinsic value
- Recent events
- Nov 5, 2026: DraftKings reported Q3 2026 results. Revenue rose 16% to $1,329 million, and monthly unique payers rose 13% to 4.1 million. Spending on Predictions raised sales and marketing costs to $606 million from $360 million. The net loss was $469 million, and the adjusted EBITDA loss was $317 million. DraftKings cut its 2026 guidance to revenue of $6.35 billion to $6.55 billion and adjusted EBITDA of $175 million to $275 million, with $650 million to $700 million of investment in Predictions. Its first 2027 guidance is revenue of $7.35 billion to $7.75 billion and adjusted EBITDA of $800 million to $1.0 billion. Oct 16, 2026: The NBA told its partner sportsbooks to stop some bets from the 2026-27 season. The list includes parlays of unders on the same player, opening tip bets and first basket bets. Oct 15, 2026: The Louisiana Gaming Control Board gave DraftKings a conditional four-month extension of its sports betting license, which ends on November 10, 2026. The full renewal hearing is set for February 18, 2027. The board asked for written answers on how DraftKings uses AI, on prediction markets and on missing suitability filings of some large shareholders, with six other conditions. The board said that news reports are not findings of violations. Oct 15, 2026: Jefferies removed: kept its Buy rating and cut its 2026 adjusted EBITDA estimate by 15% to $577 million. It expects about $100 million more spending on Predictions in the second half of 2026 than the plan of $200 million to $300 removed: million, and an adjusted EBITDA loss of $67 million in Q3 2026. added: million. It said that DraftKings is now the third-largest US prediction exchange by volume. Oct 13, 2026: The Washington Sun reported that the FTC started an early review of online sportsbooks, such as DraftKings and FanDuel, with a focus on possibly misleading ads. The FTC did not comment, and the companies said that the FTC had not contacted them. Oct removed: 5, 2026: Bank of America upgraded DraftKings to Buy and said that prediction markets can be an opportunity for sportsbooks. The stock rose about 5%. Oct 2, 2026: Fanatics said that it plans to spend up to $1 billion on betting ads in 2027. DraftKings and FanDuel's parent Flutter fell to new multiyear lows, as reports said that Kalshi seeks a valuation of about $40 billion. Sep 23, 2026: DraftKings' audit committee dismissed BDO as auditor, effective after the 2026 audit, and appointed Deloitte for 2027. Aug 28, 2026: The US Court of Appeals for the Ninth Circuit ruled that sports event contracts are sports bets and not swaps. The ruling lets Nevada treat sports prediction markets as unlicensed sportsbooks, and it rejected appeals by Kalshi and Crypto.com. DraftKings stock rose nearly 10%. Aug 25, 2026: DraftKings closed a $700 million senior secured term loan due 2033 at SOFR plus 2.00%, mainly to buy back part of its convertible notes due 2028. It also replaced its $500 million revolving credit facility with a $750 million facility due August 2031. Aug 6, 2026: DraftKings reported Q2 2026 results. Revenue was $1,443 million, down 5%, because of customer-friendly sports outcomes and more promotions for Sportsbook and Predictions. Sports betting volume rose 15% to $13.1 billion, and monthly unique payers rose 9% to 3.6 million. Adjusted EBITDA was $115 million against $301 million a year earlier, and the net loss was $68 million. DraftKings kept its 2026 outlook. Jun 9, 2026: DraftKings said that annualized consumer volume in Predictions grew 24% from April to May 2026, to $1.3 billion.