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home / news releases / MGM - DraftKings Looks Appealing As TAM Expands Led By New Markets And Robust Tech Stack

MGM - DraftKings Looks Appealing As TAM Expands Led By New Markets And Robust Tech Stack

MGM Resorts International

2024-04-22 13:53:47 ET

Summary

  • DraftKings is a major player in the online gambling industry and is expected to become profitable next year.
  • The company has made key updates, including an intent to acquire online lottery app Jackpocket and expanding its Online Sports Betting offering into newer markets.
  • DraftKings has strong growth potential as the online gambling market expands, with a focus on online sports betting.
  • My model implies ~16% upside from current levels.

Investment Thesis

Gaming engagement among Americans hovers at all-time highs , while the online gambling industry is projected to grow in the mid-teens. As the gambling market continues to push into newer highs, as I will unpack in the post below, regulation and competition are the biggest headwinds in this space, but one of the largest players in the gambling space, DraftKings Inc. ( DKNG ) still has tailwinds....

For further details see:

DraftKings Looks Appealing As TAM Expands Led By New Markets And Robust Tech Stack
Stock Information
Company Name: MGM Resorts International
Stock Symbol: MGM
Market: NYSE
Website: mgmresorts.com
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