About the Company

DraftKings Inc. is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (the MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League football, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA), Boxing, Tennis, All Elite Wrestling (AEW), and WWE. DraftKings launched DraftKings Sportsbook in New Jersey. Since launching in New Jersey, DraftKings has opened mobile sports betting operations in Connecticut, Indiana, Pennsylvania, West Virginia and New Hampshire on December 30, 2019 after reaching agreement with the New Hampshire Lottery. As of April 2016, the majority of U.S. states consider fantasy sports (including daily fantasy sports) a game of skill, rather than gambling. In November 2016, FanDuel and DraftKings, the two largest companies in the daily fantasy sports industry, reached an agreement to merge. However, the merger was terminated in July 2017-- blocked by the Federal Trade Commission to prevent potential monopoly, as the combined company would have controlled 90 percent of the market for daily fantasy sports. As of July 2017, DraftKings had eight million users. DraftKings became a publicly traded company through a reverse merger with SBTech, a Bulgarian technology company, and special-purpose acquisition company Diamond Eagle Acquisition Corp in April 2020.

Sector

Trade & Services

Industry

Services-Miscellaneous Amusement & Recreation

Employees

3400

Exchange

Nasdaq