Shares of Gambling stocks DraftKings (NASDAQ:DKNG) and Churchill Downs (NASDAQ:CHDN) were slightly higher in today’s trading session after striking a deal that will add pari-mutuel wagering on horse racing to DraftKings.
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DraftKings will release its DK HORSE app in the following months ahead of the Kentucky Derby in May of 2023 and will be available in 21 states.
Overall, Wall Street analysts have consensus price targets of $20.60 and $271.67 on DKNG and CHDN stocks, respectively. This implies 40.33% upside potential for the former and 22.47% upside for the latter, as indicated by the graphic above.