News Formal

DraftKings, Caesars and Penn National — here’s how sports-betting stocks performed in October

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Shares of DraftKings dropped 7.85% in October, underperforming a roughly 5% gain from the S&P 500 over the same period.

Since the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018, sports-betting companies have boomed in popularity.

On Oct. 13, DraftKings and the National Hockey League agreed on a deal that would make DraftKings an official sports betting and daily fantasy partner of the league. DraftKings also announced it would be the official betting and daily fantasy partner of Turner Sports’ hockey coverage. “We are encouraged by the early results from our rebranded Caesars Sportsbook launch and we are looking forward to launching additional states by year end and into 2022,” Chief Executive Tom Reeg recently said in a statement.Shares of Penn National Gaming, Inc. PENN, -21.08% dropped 8.9% in October ahead of the company’s third quarter earnings.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meme stocks are moving on real news, both good and very, very badRetail investors are loving Nvidia's possible place in the Metaverse, and more than a little concerned about Penn National's very real place in Dave...
Source: MarketWatch - 🏆 3. / 97 Read more »