DraftKings Stock Surges as Analysts Rush to Lift Price Targets

Following a surprise sell-off Friday on the back of a strong first-quarter earnings report, DraftKings (NASDAQ: DKNG) recouped those losses Monday as a slew of analysts boosted price targets on the high-flying stock. DraftKings stock is highlighted at the Nasdaq market site in New York City. At least nine analysts raised price targets on the…

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DraftKings Posts Surprise Q1 EPS Profit, Again Lifts 2024 Guidance

DraftKings (NASDAQ: DKNG) delivered first-quarter results Thursday, telling investors it posted an unexpected first-quarter earnings per share (EPS) profit while again lifting 2024 revenue guidance. A DraftKings Sportsbook advertisement above the Grand Central subway station in New York City. The company reported impressive Q1 results and again boosted 2024 EBITDA and sales guidance. (Image: Crain…

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King Gaming Raided on Isle of Man in Fraud, Money-Laundering Probe

Last summer, Asian-facing online gambling operator King Gaming Ltd. obtained planning permission from the Isle of Man government to build a multimillion-dollar HQ on a derelict vacation complex. A computer rendering of King Gaming’s ambitious vision for its HQ on the Isle of Man. It’s unlikely the project will happen following raids that shut down…

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Online Betting, Marijuana Altering State Tax Bases

US states have long applied “sin taxes” to items such as alcohol, beer, cigarettes, other tobacco products, and wine as avenues for bolstering revenue. More recently, marijuana and sports wagering have been added to the mix, representing alterations to some states’ revenue compositions. Illinois Gov. J.B. Pritzker arrives at the State Capitol to deliver his…

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Zelenskyy Limits iGaming Access in Bid to Damp Military Betting Addiction

Ukrainian President Volodymyr Zelenskyy implemented new restrictions on internet casinos in the country in an effort to combat problem gaming among military personnel. Ukrainian President Volodymyr Zelenskyy speaks to the press. He’s attempting to limit troops’ exposure to black market betting sites. (Image: Ukrainian Presidential Press Office via AP) Ukrainian army serviceman Pavlo Petrychenko, who…

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