DraftKings

DraftKings shares climbed about 7.5% to $26.04 after the Ninth Circuit Court of Appeals ruled that sports betting does not qualify as a swap under federal law, reducing a competitive threat from prediction markets. In addition, the NFL renewed its official sports betting partnerships and confirmed DraftKings as an official partner alongside FanDuel and new partner Fanatics. The ruling and the NFL renewal strengthen DraftKings' regulatory standing and distribution base, although the stock remains well below its 52-week high. » Más en de.investing.com

DraftKings has closed a senior secured Term Loan B facility of $700 million (upsized from $600 million) and a $750 million revolving credit facility. The Term Loan B matures in August 2033 and carries interest at SOFR plus 2.00%; the loan was issued at 99.50% of par and provides for 1% annual amortization. The revolver matures in August 2031 and replaces an existing $500 million facility; DraftKings intends to use proceeds partly to repurchase 2028 convertible notes and for general corporate purposes. » Más en de.investing.com

Argus cut DraftKings from Buy to Hold, citing rising customer acquisition costs, higher state gaming taxes, market-share losses in U.S. Internet gaming and near-term costs tied to its DraftKings Predictions platform. Management says investment in Predictions will add "tens of millions" in costs while 2026 guidance assumes stable state tax rates, leaving margins exposed to tax increases. Shares are down sharply from their 52-week high and short interest has risen, though the analyst consensus remains more constructive with a $34.11 average price target. » Más en finance.yahoo.com