DraftKings Plans Alberta Launch for Online Sportsbook and Casino
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy DKNG?
Source: Yahoo Finance
- Alberta Launch Plan: DraftKings intends to launch its online sportsbook and casino products in Alberta on July 13, 2026, pending approval from the Alberta Gaming, Liquor and Cannabis Commission, marking its second province in Canada and expanding its North American footprint.
- World Cup Timing: The launch coincides with the 2026 World Cup, and Greg Karamitis, Executive VP, highlighted this as an exciting moment for Alberta sports fans to engage with their platform, potentially driving significant user engagement.
- Pre-registration Initiative: Eligible residents in Alberta can pre-register for DraftKings Sportsbook and Casino, indicating proactive market engagement aimed at enhancing user retention and market share ahead of the launch.
- Ongoing Expansion Strategy: This Alberta launch is part of DraftKings' broader strategy to expand across North America, increasing its operational provinces in Canada to two and showcasing its growth potential in the digital sports entertainment and gaming sector.
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Analyst Views on DKNG
Wall Street analysts forecast DKNG stock price to rise
29 Analyst Rating
23 Buy
6 Hold
0 Sell
Strong Buy
Current: 22.170
Low
30.00
Averages
42.69
High
53.00
Current: 22.170
Low
30.00
Averages
42.69
High
53.00
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
DraftKings Plans Alberta Launch for Online Sportsbook and Casino
- Alberta Launch Plan: DraftKings intends to launch its online sportsbook and casino products in Alberta on July 13, 2026, pending approval from the Alberta Gaming, Liquor and Cannabis Commission, marking its second province in Canada and expanding its North American footprint.
- World Cup Timing: The launch coincides with the 2026 World Cup, and Greg Karamitis, Executive VP, highlighted this as an exciting moment for Alberta sports fans to engage with their platform, potentially driving significant user engagement.
- Pre-registration Initiative: Eligible residents in Alberta can pre-register for DraftKings Sportsbook and Casino, indicating proactive market engagement aimed at enhancing user retention and market share ahead of the launch.
- Ongoing Expansion Strategy: This Alberta launch is part of DraftKings' broader strategy to expand across North America, increasing its operational provinces in Canada to two and showcasing its growth potential in the digital sports entertainment and gaming sector.
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- Profitability Improvement: The company has achieved profitability on an adjusted EBITDA basis, and as incremental revenue growth occurs, the bottom line is expected to be significantly impacted, especially with its adtech business poised to become a crucial segment of overall operations.
- Acquisition Impact: Genius announced a $900 million acquisition of sports media company Legend, which is expected to boost adjusted EBITDA from $190 million to $320 million and increase operating margin from 23% to 30%, greatly enhancing the company's profitability.
- Future Earnings Outlook: Analysts forecast earnings per share to reach $0.28 by 2027 and $0.60 by 2028, and with the stock currently trading near $4.50, there is substantial rebound potential for Genius Sports, making it an attractive long-term investment opportunity.
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- Market Trend Analysis: Despite Genius Sports' shares dropping over 60% in the past year, the rise of prediction markets could signal a turning point for profitability, especially with the upcoming $900 million acquisition of Legend.
- Acquisition Impact: The acquisition is expected to boost Genius Sports' adjusted EBITDA from $190 million to $320 million and increase operating margins from 23% to 30%, significantly enhancing financial performance.
- Earnings Expectations: Analysts forecast earnings per share to reach $0.28 in 2027 and $0.60 in 2028, indicating strong growth potential, particularly with the stock currently trading near $4.50.
- Industry Position: As a
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- Risk Warning: SEC filings indicate that if outcomes contradict the bets, the fund will “lose substantially all its value,” highlighting the need for investors to approach such high-risk investment products with caution.
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MoffettNathanson Downgrades DraftKings and Flutter Ratings to Neutral
- Rating Downgrade: MoffettNathanson has downgraded DraftKings and Flutter Entertainment from Buy to Neutral, citing that while both companies have attractive valuations based on conservative long-term forecasts, a significant overhang exists due to the lack of regulatory clarity impacting these sports betting stocks.
- Regulatory Uncertainty: The U.S. prediction market is in a rapidly evolving yet unsettled regulatory environment, with the CFTC moving towards a formal framework that includes a March 12 advance notice of proposed rulemaking and staff advisory, while also withdrawing an earlier proposal that could have tightened limits on sports and politics-related contracts.
- Increased Market Pressure: State regulators and litigants are aggressively challenging the industry, particularly where contracts overlap with gambling or sports betting, resulting in a patchwork of federal oversight, active rulemaking, and ongoing state-level legal pressures that complicate the market landscape.
- Weak Stock Performance: Both DraftKings and Flutter have seen their stock prices decline by over 30% since the beginning of the year, as trading volumes in prediction markets continue to exceed expectations during major sporting events, indicating market concerns about future developments.
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DraftKings to Release Q1 2026 Results and Host Conference Call
- Earnings Release Schedule: DraftKings will announce its Q1 2026 results after market close on May 7, 2026, reflecting the company's latest performance in the digital sports entertainment and gaming sector.
- Conference Call Details: The company will host a conference call on May 8, 2026, at 8:30 a.m. ET, where management will discuss the earnings results and provide commentary on business performance, enhancing investor confidence in the company's future.
- Investor Relations Website: Investors can listen to the audio webcast and live Q&A through DraftKings' investor relations website, ensuring transparency and fostering interaction with investors, with the audio available until June 30, 2026.
- Company Background: Founded in 2012 and headquartered in Boston, DraftKings is the only U.S.-based vertically integrated sports betting operator, committed to enhancing the competitive spirit of sports fans through a diverse range of real-money games and betting experiences.
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DraftKings Plans Alberta Launch for Online Sportsbook and Casino
- Alberta Launch Plan: DraftKings intends to launch its online sportsbook and casino products in Alberta on July 13, 2026, pending approval from the Alberta Gaming, Liquor and Cannabis Commission, marking its second province in Canada and expanding its North American footprint.
- World Cup Timing: The launch coincides with the 2026 World Cup, and Greg Karamitis, Executive VP, highlighted this as an exciting moment for Alberta sports fans to engage with their platform, potentially driving significant user engagement.
- Pre-registration Initiative: Eligible residents in Alberta can pre-register for DraftKings Sportsbook and Casino, indicating proactive market engagement aimed at enhancing user retention and market share ahead of the launch.
- Ongoing Expansion Strategy: This Alberta launch is part of DraftKings' broader strategy to expand across North America, increasing its operational provinces in Canada to two and showcasing its growth potential in the digital sports entertainment and gaming sector.
See More
Genius Sports: The Winner in Prediction Markets
- Market Potential: Genius Sports, dubbed the 'operating system of modern sport', provides essential data and analytics for sports wagering and prediction markets, and despite a 60% drop in stock price over the past year, its business model shows strong growth potential as prediction markets rise.
- Profitability Improvement: The company has achieved profitability on an adjusted EBITDA basis, and as incremental revenue growth occurs, the bottom line is expected to be significantly impacted, especially with its adtech business poised to become a crucial segment of overall operations.
- Acquisition Impact: Genius announced a $900 million acquisition of sports media company Legend, which is expected to boost adjusted EBITDA from $190 million to $320 million and increase operating margin from 23% to 30%, greatly enhancing the company's profitability.
- Future Earnings Outlook: Analysts forecast earnings per share to reach $0.28 by 2027 and $0.60 by 2028, and with the stock currently trading near $4.50, there is substantial rebound potential for Genius Sports, making it an attractive long-term investment opportunity.
See More
Genius Sports Poised for a Turnaround Amid Market Trends
- Market Trend Analysis: Despite Genius Sports' shares dropping over 60% in the past year, the rise of prediction markets could signal a turning point for profitability, especially with the upcoming $900 million acquisition of Legend.
- Acquisition Impact: The acquisition is expected to boost Genius Sports' adjusted EBITDA from $190 million to $320 million and increase operating margins from 23% to 30%, significantly enhancing financial performance.
- Earnings Expectations: Analysts forecast earnings per share to reach $0.28 in 2027 and $0.60 in 2028, indicating strong growth potential, particularly with the stock currently trading near $4.50.
- Industry Position: As a
See More
Rise of Prediction Market ETFs: Key Insights
- ETF Innovation: Bitwise, Roundhill, and GraniteShares have filed with the SEC to launch event contract ETFs, enabling investors to wager on the outcomes of the 2028 presidential election within self-directed IRAs, addressing strong market interest in prediction markets.
- Market Potential: These ETFs will track changes in prediction market probabilities, allowing investors to engage in Democrat or Republican president ETFs, which are expected to attract significant attention and liquidity.
- Risk Warning: SEC filings indicate that if outcomes contradict the bets, the fund will “lose substantially all its value,” highlighting the need for investors to approach such high-risk investment products with caution.
- Market Regulation: The legality of prediction markets is facing legal challenges nationwide, with the Commodity Futures Trading Commission involved in the legal fight to uphold its regulatory authority over event contracts, illustrating the complexities of market regulation.
See More
MoffettNathanson Downgrades DraftKings and Flutter Ratings to Neutral
- Rating Downgrade: MoffettNathanson has downgraded DraftKings and Flutter Entertainment from Buy to Neutral, citing that while both companies have attractive valuations based on conservative long-term forecasts, a significant overhang exists due to the lack of regulatory clarity impacting these sports betting stocks.
- Regulatory Uncertainty: The U.S. prediction market is in a rapidly evolving yet unsettled regulatory environment, with the CFTC moving towards a formal framework that includes a March 12 advance notice of proposed rulemaking and staff advisory, while also withdrawing an earlier proposal that could have tightened limits on sports and politics-related contracts.
- Increased Market Pressure: State regulators and litigants are aggressively challenging the industry, particularly where contracts overlap with gambling or sports betting, resulting in a patchwork of federal oversight, active rulemaking, and ongoing state-level legal pressures that complicate the market landscape.
- Weak Stock Performance: Both DraftKings and Flutter have seen their stock prices decline by over 30% since the beginning of the year, as trading volumes in prediction markets continue to exceed expectations during major sporting events, indicating market concerns about future developments.
See More
DraftKings to Release Q1 2026 Results and Host Conference Call
- Earnings Release Schedule: DraftKings will announce its Q1 2026 results after market close on May 7, 2026, reflecting the company's latest performance in the digital sports entertainment and gaming sector.
- Conference Call Details: The company will host a conference call on May 8, 2026, at 8:30 a.m. ET, where management will discuss the earnings results and provide commentary on business performance, enhancing investor confidence in the company's future.
- Investor Relations Website: Investors can listen to the audio webcast and live Q&A through DraftKings' investor relations website, ensuring transparency and fostering interaction with investors, with the audio available until June 30, 2026.
- Company Background: Founded in 2012 and headquartered in Boston, DraftKings is the only U.S.-based vertically integrated sports betting operator, committed to enhancing the competitive spirit of sports fans through a diverse range of real-money games and betting experiences.
See More
