The Zacks Analyst Blog Highlights: DraftKings, Boyd Gaming, Disney and AT&T
For Immediate Release
Chicago, IL – January 27, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: DraftKings Inc. DKNG, Boyd Gaming Corporation BYD, The Walt Disney Company DIS and AT&T Inc. T.
Here are highlights from Tuesday’s Analyst Blog:
DraftKings (DKNG) Expands Sportsbook Platform to Virginia
DraftKings recently extended its sports betting footprint by introducing its digital Sportsbook app in Virginia.
The mobile sports-betting app will allow Virginian customers to bet on more than 250 leagues, including well-known professional sports such as baseball, football, golf, hockey, boxing, soccer, tennis, motorsports and basketball.
Additionally, sports bettors will be able to bet across collegiate sports except for in-state college teams and college prop bets.
Strength in Sports-Betting, iGaming Platforms: Key Positives
The legalization of sports wagering across multiple states has garnered interest from sports-betting customers on DraftKings’ Sportsbook app. Additionally, significant traction in online gambling on platforms such as online poker, casino games and lottery is a major positive.
Moreover, strong demand for iGaming, such as online Blackjack and Roulette, has driven momentum in the company’s iGaming platform. This has also improved its competitive prowess against the likes of Capcom and Boyd Gaming.
Additionally, the resurgence of major sporting events after coronavirus-induced sports cancellations has further accelerated customer engagement on the company’s e-sports betting platform.
Furthermore, a strong content portfolio due to partnerships with major sports teams, such as Major League Baseball, Chicago Cubs, New York Giants, Colorado Rockies and Nashville Predators, along with similar deals with Disney’s ESPN and Turner Sports, a subsidiary of AT&T's WarnerMedia, helps the company attract new customers, thereby aiding customer acquisition.
Notably, in the third quarter of 2020, DraftKings’ average monthly unique payers grew 64% year over year from 621,000 to 1,021,000. This growth was primarily driven by increased user engagement on its sports-betting and casino platforms.
Moreover, the introduction of the company’s mobile Sportsbook app and iGaming platform across several new states bodes well for the company’s top line over the long haul.
The recently announced launch in Virginia brings the company’s mobile sports-betting app to a total of 12 states in the United States. DraftKings launched its mobile Sportsbook and Casino app in Michigan, on Jan 22. Michigan and Virginia together comprise 6% of the U.S. population, thereby increasing the company’s total addressable market.
Markedly, the company provides sports-betting services and gaming technologies to more than 50 operators across 17 countries, reflecting its strong market presence.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that have beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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
AT&T Inc. (T) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
DraftKings Inc. (DKNG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
