DraftKings

Canaccord analyzes a mixed NFL season start for betting operators, in which the majority of moneyline bets in many games fell on the winners and operators were partially relieved on spread bets. DraftKings recorded strong growth in its DKeX nominal volume, up 125% to $441 million, reaching a 4.5% share on Sunday. Overall nominal volume at Kalshi rose 10% to $13.1 billion, while reported wagers in five U.S. states fell 10% in August. » Więcej na de.investing.com

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. » Więcej na 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. » Więcej na de.investing.com