Subscribe to Entrepreneur for $5
Subscribe

DraftKings (DKNG) Becomes Oregon Lottery's Sportsbook Partner

DraftKings (DKNG) collaborates with Oregon Lottery. DraftKings Sportsbook to replace the Scoreboard app.

By
This story originally appeared on Zacks

DraftKings DKNG is leaving no stone unturned to bolster its presence in the online sports betting market.

The company recently announced that it will become the official sportsbook provider for the government-run Oregon Lottery.

Per the agreement, DraftKings Sportsbook will be replacing the current Scoreboard app. The transition is set to begin on Jan 18.

Present Scoreboard customers will be able to shift their existing funds to the DraftKings Sportsbook app by creating a DraftKings account.

- Zacks

Focus on Online Sports Betting

DraftKings is keen on tapping the online sports betting market and gaining sports fanatics as potential customers.

In line with its focus, recently, the company announced the launch of its online and mobile sports betting platform in New York.

Online and mobile sports betting have only been recently legalized in New York by The New York Gaming Commission. DraftKings has strategically launched its platform to capitalize on the opportunity, becoming one of the first operators in the Empire State.

The launch came ahead of the National Football League (NFL) Playoffs, one of the busiest times for betting activity in the year.

Moreover, DraftKings recently partnered with The NFL Players Association and One Team Partners, revealing plans to launch gamified NFT (non-fungible token) collections. The NFT collection will be debuting on DraftKings Marketplace during the 2022-2023 NFL season.

DraftKings also expanded its multiyear relationship with The National Basketball Association, making the former a co-official sports betting partner in the league.

In November, DraftKings entered into a new deal with FaZe Clan, becoming the latter’s official sports betting, daily fantasy, iGaming and free-to-play partner.

Per the deal, DraftKings will be appearing across FaZe’s digital content ecosystem, thereby increasing the former’s presence in esports.

Zacks Rank & Stocks to Consider

DraftKings currently carries a Zacks Rank #4 (Sell).

The Zacks Consensus Estimate for DraftKings’s 2022 earnings is pegged at a loss of $3.02 per share, which has widened from a loss of $2.89 over the past 60 days.

DKNG shares have declined 52.5% in the past year compared to the Gaming industry’s plunge of 15.9% and the Consumer Discretionary sector’s decline of 13.5% in the past year.

Some better-ranked stocks from the Zacks Consumer Discretionary sector include BJ’s Wholesale Club BJ and Bluegreen Vacations BVH, each sporting a Zacks Rank #1 (Strong Buy), and Brunswick BC, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

BJ’s Wholesale Club’s shares have increased 60.3% in the past year compared against the Zacks Consumer Services - Miscellaneous industry’s decline of 25.3% and the Consumer Discretionary sector’s decline of 13.5% in the past year.

The Zacks Consensus Estimate for BJ’s Wholesale Club’s 2022 earnings is pegged at $3.18 per share, which has improved 19 cents over the past 60 days.

Bluegreen Vacations’ shares have increased 145.4% in the past year compared with the Zacks Leisure and Recreation Services industry’s rise of 4.1% and in contrast to the Consumer Discretionary sector’s decline of 13.5% in the past year.

The Zacks Consensus Estimate for Bluegreen Vacations’ 2022 earnings is pegged at $2.81 per share, which has improved 11 cents over the past 60 days.

Brunswick’s shares have increased 10% in the past year compared against the Zacks Leisure and Recreation Products industry’s decline of 48.2% and the Consumer Discretionary sector’s decline of 13.5% in the past year.

The Zacks Consensus Estimate for Brunswick’s 2022 earnings is pegged at $9.21 per share, which has improved 4 cents over the past 60 days.



Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. 

See 3 crypto-related stocks now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

BJ's Wholesale Club Holdings, Inc. (BJ): Free Stock Analysis Report

 

Brunswick Corporation (BC): Free Stock Analysis Report

 

DraftKings Inc. (DKNG): Free Stock Analysis Report

 

Bluegreen Vacations Holding Corporation (BVH): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research