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....
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For further details see:
DraftKings Looks Appealing As TAM Expands Led By New Markets And Robust Tech Stack