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Draft Kings
Posted on 4/17/20 at 9:48 pm
Posted on 4/17/20 at 9:48 pm
Variety
Diamond Eagle trades as DEAC at the moment. The new ticker symbol once the merger is completed will be DKNG.
Given the popularity of fantasy leagues and the growth in sports betting with the blessing of professional sports leagues this might be a good longer term lotto play. Anyone thinking about getting into this name?
quote:
Sports betting giant DraftKings has been cleared to become a public company following approval of a merger with SBTech and Diamond Eagle Acquisition, the public acquisition vehicle headed by industry veterans Harry Sloan and Jeff Sagansky.
quote:
Diamond Eagle Acquisition Corp., led by Sloan, announced Wednesday that it had received the approval from the Securities and Exchange Commission and is now moving to the final step in the process. An April 23 meeting has been scheduled for DEAC shareholders to vote on the business combination with DraftKings and SBTech.
quote:
The deal is valued at $2.7 billion. Diamond Eagle will combine with DraftKings and SBTech to create what’s described as the only vertically integrated U.S. sports betting and online gaming company. Upon conclusion of the deal, the new DraftKings will become a publicly traded company under the new symbol of “DKNG” and become incorporated in Nevada. The new company will have more than $500 million of unrestricted cash to ensure access to capital to fuel growth.
Diamond Eagle trades as DEAC at the moment. The new ticker symbol once the merger is completed will be DKNG.
Given the popularity of fantasy leagues and the growth in sports betting with the blessing of professional sports leagues this might be a good longer term lotto play. Anyone thinking about getting into this name?
11
Posted on 4/17/20 at 10:09 pm to BuzzSaw 12
Bought a few shares at $11. May try to buy a few more before the name change.
Posted on 4/17/20 at 11:11 pm to WB504
Posting to keep an eye on. I think I’ll see what the new ticker opens all at first.
Posted on 4/18/20 at 3:22 pm to BuzzSaw 12
if you already own stock with DEAC, do i need to do anything to move my money over to DKNG? or am i just going to wake up one day and see that the DEAC ticker has changed to DKNG? probably a stupid question but im new to this.
Posted on 4/18/20 at 4:33 pm to beenHADdat
quote:
or am i just going to wake up one day and see that the DEAC ticker has changed to DKNG?
This
Posted on 4/19/20 at 10:13 am to Jwodie
Would it open at same exact price/trading history?
Posted on 4/19/20 at 10:18 am to Brettesaurus Rex
Yes.
Posted on 4/21/20 at 8:54 am to BuzzSaw 12
How should I look at a stock like this? Should I compare it to something like Penn gaming or MGM?
DEAC is priced higher than both of these currently. Trying to figure out if this is a good buy.
Eta:Yes Im new to this.
DEAC is priced higher than both of these currently. Trying to figure out if this is a good buy.
Eta:Yes Im new to this.
This post was edited on 4/21/20 at 8:55 am
Posted on 4/21/20 at 10:54 am to dj30
Curious about this too, though Draft Kings seems somewhat unique based on its accessibility from a mobile perspective.
ETA: I would also presume much lower overhead for the same reason - a mobile app vs sprawling campuses for casino properties, though hotels, alcohol, entertainment etc represent alternative revenue streams.
ETA: I would also presume much lower overhead for the same reason - a mobile app vs sprawling campuses for casino properties, though hotels, alcohol, entertainment etc represent alternative revenue streams.
This post was edited on 4/21/20 at 10:58 am
Posted on 4/21/20 at 3:33 pm to dj30
I think this is a one of kind type of investment until others come along. Casinos are a tough comparison unless you could put a valuation on just their sports books. Probably a more speculative investment than most. I just feel like with the explosion in popularity of fantasy sports and the ease you will have to bet on just about anything sports related including prop bets in the middle of a game the potential is there for DKNG to take off. They've got a lot of money behind them.
I'm watching DEAC for a pullback. Not planning on a big investment. Small to start and see how it progresses.
I'm watching DEAC for a pullback. Not planning on a big investment. Small to start and see how it progresses.
Posted on 4/21/20 at 5:50 pm to BuzzSaw 12
Yeah I’m still watching and waiting too. Going to grab some at some point. It’s been hovering around 17 since I added it within the last week.
Posted on 4/23/20 at 7:05 pm to Jwodie
quote:
or am i just going to wake up one day and see that the DEAC ticker has changed to DKNG? This
DKNG at market open tomorrow, I believe.
Posted on 4/24/20 at 1:28 pm to HarrisonTown
Looks like DKNG is live. It didn’t transfer it’s just a brand new ticker
Posted on 4/24/20 at 1:32 pm to Brettesaurus Rex
DEAC shares didn't transfer? It seemed to open at the same price. Interesting, though I admittedly know nothing about this 
Posted on 4/24/20 at 1:52 pm to JescoWhite
Oh I don’t know, I haven’t bought in yet. It went up 20% and came back down, up about 9 right now. I want to see what it does early next week. I bet today being the first day was the overexcitement factor but with no sports to bet on I see it coming back to reality
Posted on 4/24/20 at 8:33 pm to Brettesaurus Rex
Yes it transferred from DEAC. I’m in it 500 shares rn
Posted on 5/5/20 at 10:15 am to Cajun9474
Bumping this - looks like they rolled out mobile sports betting in CO and an online casino in PA in recent days, but not a lot of pop. I guess we won't know much about potential until we have sports again 
Posted on 5/5/20 at 10:20 am to JescoWhite
I keep hoping this will drop back into the 15-17 area where I feel more comfortable buying but barring a broader market pull back that may not happen. I figure once major pro sports announces a plan to return it will shoot up.
Posted on 5/5/20 at 10:33 am to BuzzSaw 12
Same here, I was thinking ~$18, but it doesn't seem to want to go much lower than $19-20. I may jump in if it gets below $20 again. There seems to be potential, just based on a unique business model.
Posted on 5/5/20 at 10:38 am to JescoWhite
I missed this one but may get into GAN. Ipo today.
- I'm in
- I'm in
This post was edited on 5/5/20 at 10:58 am
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