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Business
February 21, 2025
Fitch Assigns Junk Rating to DraftKings, Citing Ongoing Risks
Fitch Ratings has given DraftKings a BB+ Long-Term Issuer Default Rating (IDR) putting the company just below investment grade. The credit rating agency also gave a BBB- rating with an RR1 recovery rating to the gaming company’s senior secured debt, while its senior unsecured convertible notes got a BB+/RR4 rating. However, Fitch‘s overall outlook for […]
Business
February 14, 2025
DraftKings Boosts Revenue Guidance Midpoint, Reaffirms Adjusted EBITDA
In January, leading US online sports betting and gaming operator DraftKings announced fourth-quarter losses caused by unpredicted sports results. Fast-forward to Thursday, the NASDAQ-listed company experienced a sudden rise in its stock in after-hours trading amid an upward revision of its 2025 revenue forecast while announcing its fourth quarter and fiscal year 2024 financial results. […]
Business
February 13, 2025
FanDuel Hits 23M App Downloads, DraftKings Is Close Behind
According to data from a leading company that analyzes app marketplace intelligence, Sensor Tower, a whopping 23 million people chose to download and install FanDuel’s sportsbook and casino apps between January 2020 and December 2024, which is more than any other operator in the country. This means the popular operator surpassed all competitors in terms […]
Legal
February 12, 2025
WinView Files New Patent Lawsuit Against FanDuel and DraftKings
WinView Technology, Inc. has taken legal action against two of the United States’ most prominent sports wagering companies, launching individual patent infringement complaints against FanDuel and DraftKings. The lawsuits, filed in the District of New Jersey, allege the operators have unlawfully incorporated WinView’s proprietary technology into their offerings like online casino games, Daily Fantasy Sports, […]
Sports
February 5, 2025
NYX Teams Up with DraftKings in Historic Super Bowl Campaign
Ahead of the upcoming Super Bowl in February, NYX Professional Makeup, the famous makeup company whose parent is the globally recognizable brand, L’Oreal, announced the launch of a new social media campaign and joined forces with one of the top betting and gaming companies in the United States. The Collaboration Will Bring Exciting Free-to-Play Betting […]
Legal
January 28, 2025
DraftKings Reaches Agreement with NFLPA, Pauses Lawsuit
Sports betting powerhouse DraftKings has reached an agreement with the National Football League Players Association (NFLPA), potentially ending the legal battle between the two parties. The court proceedings will be put on hold while the operator wraps up its negotiations with the association. Buyers’ Remorse Is Not a Basis to Terminate a Contract The NFLPA, […]
Legal
January 24, 2025
DraftKings Faces Legal Challenge over Alleged Player Exploitation
Leading US online sports wagering company DraftKings faces another class-action lawsuit. This newest legal challenge, filed in the Southern District of New York and spearheaded by Clara De Leon and Eric W. Mirsberger Jr., accuses DraftKings and its subsidiary Crown NY Gaming LLC of deceptive advertising and consumer manipulation. The Operator Allegedly Offered Misleading Bonuses […]
Business
January 16, 2025
Maryland Tax Rate Increase May Impact DraftKings, FanDuel
Amid plans for a tax hike in Maryland, two analysts explored the potential impact increasing the tax rate may have on the gambling sector. Proposal in Maryland Seeks to Raise Table Games and Betting Taxes Earlier this week, Gov. Wes Moore uncovered a new proposal calling for an increase in the tax rate on gambling […]
Sports
January 10, 2025
Delta Air Lines and DraftKings Announce Collaboration at CES 2025
Delta Air Lines and DraftKings have joined forces catching the eye of people in both the flight and betting worlds. Delta Air Lines Teams Up with DraftKings to Enhance In-Flight Entertainment Experience Delta CEO Ed Bastian broke the news during his main speech at CES 2025 in Las Vegas. Bastian stressed that Delta wants to […]
Legal
January 9, 2025
DraftKings Takes Heat Over “Free Bet” Promotional Language
DraftKings is now facing three class-action lawsuits filed against the company because of what is alleged to be unfair and misleading promotional practices. The lawsuits specifically name the language used by the sportsbook in describing its promotions. DraftKings “Risk-Free” Promotions Targeted in New Lawsuit Wordings such as “no sweat first bets” are seen as misleading […]
