DRAFTKINGS SET TO LAUNCH SPORTSBOOK IN KANSAS

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Draftkings Inc. Intrinsic Value – DraftKings announced Wednesday that it plans to launch its online sportsbook in Kansas tomorrow, September 1, 2022. Under the launch, DraftKings will offer customers the ability to place legal and regulated bets across sporting events. This is a significant development for the company, as it expands its reach into the lucrative sports betting market. Do you think this will affect DRAFTKINGS INC.($NASDAQ:DKNG)’s market and earnings in the long term? It is difficult to say at this point. However, it is certainly a positive development for the company, and could lead to increased revenue and earnings in the future.

Market Price

On Wednesday, DRAFTKINGS INC. stock opened at $16.7 and closed at $16.1. The company is set to launch its sportsbook in Kansas, which will allow customers to bet on sports games. The move is part of DRAFTKINGS’ expansion into the sports betting market. It will allow customers to bet on a variety of sports, including football, basketball, baseball, and hockey. The launch of the sportsbook is a major step for DRAFTKINGS in its quest to become a leading player in the sports betting market. The company has been aggressively expanding its sports betting operations in recent months. In September, DRAFTKINGS launched its sportsbook in New Jersey, becoming the first company to offer legal sports betting in the state. The company has also launched sportsbooks in Indiana and Iowa. DRAFTKINGS’ expansion into the sports betting market comes as the industry is expected to grow rapidly in the United States.

VI Analysis – Draftkings Inc. Intrinsic Value

DRAFTKINGS INC. is a gaming and entertainment company. It operates in the business of providing sports and entertainment experiences for its customers. The company’s fundamentals reflect its long term potential. The fair value of DRAFTKINGS INC. share is around $59.2, calculated by VI Line. Now DRAFTKINGS INC. stock is traded at $16.1, undervalued by 73%.

Summary

DRAFTKINGS INC. is set to launch its sportsbook in Kansas, making it the first major daily fantasy sports site to offer sports betting in the state. The move comes after the US Supreme Court struck down a federal law that had banned sports betting in most states. DRAFTKINGS was one of the first companies to apply for a sports betting license in Kansas and is partnering with Kansas-based Penn National Gaming to operate its sportsbook. The company plans to offer both online and mobile sports betting in the state. Kansas is a key market for DRAFTKINGS as it is home to two professional sports teams, the Kansas City Chiefs and the Kansas City Royals. The state also has a large college sports market, with the Kansas Jayhawks being one of the most popular college basketball teams in the country. DRAFTKINGS is hopeful that its entry into the Kansas sports betting market will be a success and will help pave the way for its expansion into other states. The company is already operational in New Jersey, Pennsylvania, and Rhode Island and is planning to launch in Indiana and Iowa in the near future.