DraftKings earnings preview:DraftKings (DKNG) reports earnings with forecasts on the total U.S. sports betting/iGaming market continuing to be pushed higher as more states report strong engagement. Morgan Stanley thinks sports betting/iGaming revenue could hit $7B in 2021. Look for an important update from DraftKings with its report on the transition of the tech stack to SBTech from Kambi, which Morgan Stanley sees as an important way for the company to grab more market share.
EYES ON MASSACHUSETTS SENATE:The Boston Red Sox and DraftKings announced a deal making DraftKings the official Daily Fantasy Sports provider of the franchise. The Red Sox represent DraftKings' most recent local sponsorship agreement in the Northeast, after previously solidifying deals with the New England Patriots and Boston Celtics. While DraftKings has solidified deal with Boston sports teams, there is still no consensus proposal for sports betting in Massachusetts. While both sides reportedly want to work together in more than just DFS, Waters said. there is work to be done before a DraftKings Sportsbook is found at Fenway Park. Allowing teams to place sportsbooks in or near their facilities was suggested by two amendments to the House sports betting proposal. The idea was partially shut down. H 3993 calls for the Massachusetts Gaming Commission to study giving professional teams and leagues betting licenses. The amended bill passed 156-3 in the House last Thursday and was referred to Senate Ways and Means Monday. The Massachusetts Senate has been quiet since the House passed the bill and it is unclear when it will act. The Senate has its own sports betting proposal in S 269 from Senator Eric Lesser. That bill has not been amended since the Joint Committee on Economic Development and Emerging Technologies hearing. The two bills differ on collegiate betting, tax rate, license fees and league data. LSR noted that If the Senate passes S 269, a conference committee could be the most likely outcome to reach a compromise.
EYES ON MASSACHUSETTS SENATE:The Boston Red Sox and DraftKings announced a deal making DraftKings the official Daily Fantasy Sports provider of the franchise. The Red Sox represent DraftKings' most recent local sponsorship agreement in the Northeast, after previously solidifying deals with the New England Patriots and Boston Celtics. While DraftKings has solidified deal with Boston sports teams, there is still no consensus proposal for sports betting in Massachusetts. While both sides reportedly want to work together in more than just DFS, Waters said. there is work to be done before a DraftKings Sportsbook is found at Fenway Park. Allowing teams to place sportsbooks in or near their facilities was suggested by two amendments to the House sports betting proposal. The idea was partially shut down. H 3993 calls for the Massachusetts Gaming Commission to study giving professional teams and leagues betting licenses. The amended bill passed 156-3 in the House last Thursday and was referred to Senate Ways and Means Monday. The Massachusetts Senate has been quiet since the House passed the bill and it is unclear when it will act. The Senate has its own sports betting proposal in S 269 from Senator Eric Lesser. That bill has not been amended since the Joint Committee on Economic Development and Emerging Technologies hearing. The two bills differ on collegiate betting, tax rate, license fees and league data. LSR noted that If the Senate passes S 269, a conference committee could be the most likely outcome to reach a compromise.
