DraftKings is poised for more growth

Article Excerpt

DraftKings shares surged on the release of the company’s latest results. They show a continuing rise in the numbers of bettors joining the DraftKings’ platforms. Indeed, with its industry-leading technology, the company is well positioned to keep expanding its market share as the industry further grows. While online sports betting is now legal in nearly half of U.S. states, others are rapidly joining them in an effort to generate tax income. The development of online casino gambling provides another growth area for DraftKings. Thus far, only five states have legalized online casino gambling, with most other states expected to follow their lead. DraftKings is a Power Buy. DRAFTKINGS INC., $50.78, is a Power Buy. The company (Nasdaq symbol DKNG; TSINetwork Rating: Extra Risk) (www.draftkings.com; Shares outstanding: 882.1 million; Market cap: $44.8 billion; No dividend) currently provides sports betting in several U.S. states: Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Maine, Maryland, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, Vermont, North Carolina, West Virginia,…