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DraftKings deal with Churchill an attractive opportunity, says JMP Securities
The Fly

DraftKings deal with Churchill an attractive opportunity, says JMP Securities

JMP Securities analyst Jordan Bender maintains an Outperform rating and $23 price target on shares of DraftKings (DKNG) after the company and Churchill Downs (CHDN) agreed to a partnership with Churchill’s TwinSpires on the technology for DraftKings to build a horse-racing app. Bender sees this as an attractive opportunity for DraftKings to cross-sell from sports betting/iGaming into horse racing, and vice versa, the analyst tells investors in a research note, adding that DraftKings will gain another tool to compete with FanDuel (PDYPY) in the U.S.

Published first on TheFly

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