DraftKings : building on success in the fast-growing online betting market
- DraftKings $DKNG-1.7% is a leading brand in the rapidly growing online sports betting and gambling industry.
-$DKNG'-1.7%s revenue grew 64% in 2023, and with many states not supporting online betting, DraftKings has a long road of growth ahead of it.
- Forecasts show that by 2029, the online casino gaming and sports betting market could reach a value of more than $150 billion.
- DraftKings $DKNG-1.7% is also creating success by entering new markets, which is fueling profit growth. It is targeting adjusted EBITDA of over $2 billion by 2028.
- The recent acquisition of Jackpocket expands the addressable market by another $100 billion.
- DraftKings shares trade at 54 times forward earnings estimates, while improving profitability is an important catalyst for the stock this year, which could lead to new highs.
A gambling venture, would you be interested in investing in such a company?
