What’s Going on with DraftKings?
Today, August 5, DraftKings (DKNG) announced that, with Genius Sports (GENI), the two companies have entered into a wide-ranging agreement concerning the NFL. Genius Sports has just signed a new supplier contract agreement with the gaming and sports betting firm DraftKings “to provide its full range of official sportsbook data and content and fan engagement solutions, including a complete suite of NFL-related products." Pre-market this morning, DKNG stock held fairly steady, trading at $49.05 a share, which is a slight increase of 0.78%.
What Does This Mean for DKNG?
DraftKings will take advantage of specific technology offered by Genius Sports, according to an official news release, “to help power immersive and personalized live experiences for millions of fans.” DraftKings will get access to official data and live video feeds from over 170,000 events per year, provided by Genius Sports, including “official NFL data products, dynamic content and player acquisition and retention solutions.”
Ezra Kucharz, Chief Business Officer of DraftKings, said, “Our customers are at the forefront of all we do and we are always working to better their experience and our products. The mutually beneficial terms of this agreement allow us to leverage Genius’ technology for years to come. We are excited to expand on the capabilities of our products and provide new and exciting features for our customers like single-game parlays, while having confidence in the integrity of the data we utilize to fuel our offerings.”
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DraftKings Inc is a digital sports entertainment and gaming company. The company provides users with daily fantasy sports (DFS), sports betting, and iGaming opportunities and is also involved in the design & development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products. It operates in two segments: Business-to-consumer(B2C) and Business-to-Business(B2B), of which the vast majority of its revenue comes from the B2C segment. Geographically, it derives most of its revenue from the United States.
