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Business
February 16, 2024
DraftKings Posts Exceptional Q4 Results, Updates 2024 Guidance
The leading North American sports betting and iGaming operator, DraftKings, released its latest financial report. On Thursday, the company disclosed details regarding its performance for the fourth quarter and fiscal year 2023, highlighting a significant increase in revenue. DraftKings’ latest unaudited report reveals that its revenue for 2023 hit $3.67 billion. This result, compared to […]
Business
February 16, 2024
DraftKings Expands Reach with $750M Acquisition of Jackpocket
DraftKings Inc. has finalized an agreement to purchase Jackpocket, the prominent US lottery app, for a staggering $750 million. DraftKings’ Partnership with Jackpocket Signals Entry into US Lottery Industry The deal, structured with approximately 55% cash and 45% stock components, underscores DraftKings’ strategic maneuver to tap into the vast potential of the US lottery industry. […]
Legal
February 15, 2024
Former DraftKings Executive Seeks $310K in Legal Fees Amidst Court Battle
In the ongoing legal saga between former DraftKings executive Michael Hermalyn and his ex-employer, DraftKings, Hermalyn’s attorneys are now seeking over $310,000 in attorney fees, alleging what they term as “legal misconduct” on the part of DraftKings. DraftKings Faces Legal Heat as Former Exec Challenges Noncompete Agreement Hermalyn, who recently made a high-profile switch to […]
Sports
February 12, 2024
DraftKings and Barstool Sports Ink Multi-Year Landmark Deal
On February 11, the “inventor” of Barstool Sports, Dave “El Presidente” Portnoy, used his social media to make the big announcement regarding the new multi-million-dollar partnership that his company and DraftKings have agreed upon. Portnoy, who is also the owner of #DDTG Global and a “Brick Watch Man” and “2-time bee sting survivor” as he […]
Business
February 12, 2024
DraftKings’ Executives Sell Nearly $80M Worth of Shares
A handful of high-level executives with DraftKings, the leading American gaming and entertainment company, have sold nearly $80 million worth of company shares over the last three weeks. Details regarding Form 144 filings disclosed by the company reveal that the dumping of shares began on January 22, 2024, while the latest Form 144 reports were […]
Legal
February 9, 2024
Court Issues Restraining Order against Former DraftKings Executive
Michael Z. Hermalyn, Fanatics VIP president and former SVP of growth at DraftKings, was temporarily prohibited from disclosing any sensitive information obtained from his former employer to his new employer. The temporary restraining order was issued on Thursday and while it restricted Hermalyn from using any confidential information or soliciting with DraftKings employees or clients, […]
Legal
February 8, 2024
Fanatics VIP Chief Denies DraftKings Allegations Amid Legal Battle
In a legal tussle between sports betting giants, Fanatics’ newly appointed VIP chief, Michael Hermalyn, refutes allegations brought forth by DraftKings, terming them as “wrong and disappointing” and “false and fabricated.” Former DraftKings Employee Denies Allegations of Data Theft Conspiracy with Fanatics CEO The dispute took a legal turn when DraftKings filed a lawsuit accusing […]
Legal
February 6, 2024
Former DraftKings Executive Challenges Non-compete Policy in Court
A former DraftKings executive is challenging non-compete agreements he signed with his employer. The legal case, filed by Michael Z. Hermalyn, Fanatics VIP’s president and former senior vice president of growth at DraftKings, was filed Thursday. In his lawsuit, the executive argues that the non-compete policies he agreed to with his former employer are unenforceable […]
Legal
February 1, 2024
Youth to Serve 18 Months in Prison for DraftKings Cyber Fraud
Joseph Garrison, one of the youths who staged cyber fraud involving DraftKings Sportsbook accounts in 2022, has pleaded guilty, accepting an 18-month prison sentence. The 19-year-old was involved in a credential surfing attack. Along with other conspirators Garrison exploited system vulnerabilities to steal $600,000 from DraftKings users whose credentials had been stolen in other data […]
Sports
February 1, 2024
LeBron James Joins DraftKings as NFL Talent Ambassador
Basketball powerhouse LeBron James is joining DraftKings’ team as a talent ambassador, the American betting operator announced. While best known for his basketball prowess, King James’ partnership with the gambling juggernaut will actually be centered on football. According to the announcement, the multi-year agreement will see the Los Angeles Lakers star participate in a variety […]
