Professional
Added to YB: 2024-06-06
Pitch date: 2024-05-28
DKNG [bullish]
DraftKings Inc.
-37.99%
current return
Author Info
No bio for this author
Company Info
DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally.
Market Cap
$11.4B
Pitch Price
$36.27
Price Target
49.00 (+118%)
Dividend
N/A
EV/EBITDA
41.00
P/E
-2.9K
EV/Sales
2.02
Sector
Hotels, Restaurants and Leisure
Category
growth
DraftKings Inc.: Illinois' Sports Betting Tax Increase Hits Shares and Supports Our No-Moat Rating
DKNG: Illinois sports betting tax hike to 40% is 1-2% rev headwind but cost controls keep $49 FVE intact. Shares -11%, now 25% undervalued. Attractive entry for leader in $39B US market by 2028 despite reg uncertainty. Forecasting EBITDA of $1.2B in '25 (+140%) on 33% rev growth, data leverage. No moat on competition, reg risk but brand & tech edge emerging.
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