Latest news with #Railbird
Yahoo
19-07-2025
- Business
- Yahoo
As DraftKings Weighs Entry into Prediction Markets, How Should You Play DKNG Stock?
DraftKings (DKNG) is reportedly in talks to acquire Railbird, a federally regulated prediction market platform. This development signals the sports betting giant's expansion into a rapidly growing industry. Prediction markets have been gaining traction following the recent election cycle. Railbird, founded in 2021 by former Point72 analysts Miles Saffran and Edward Tian, received CFTC approval as a designated contract market in June, making it one of the few regulated prediction markets in the United States. The platform allows users to trade contracts on real-world events, including economic indicators, policy decisions, weather patterns, and sports outcomes. More News from Barchart Is Palantir Stock a Buy Above $150? Coinbase Stock Just Hit a New 52-Week High. How Much Higher Can Crypto Week Take COIN? This Bullish Catalyst for Nvidia Stock Is Coming in September Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. The acquisition interest follows DraftKings' failed bid to secure its own federal prediction market license. Meanwhile, competitor FanDuel has reportedly explored partnerships with established player Kalshi. For DKNG stock investors, the potential acquisition could diversify DraftKings' revenue streams beyond traditional sports betting, tapping into growing interest in event-based trading. However, the regulatory complexity and competitive landscape pose challenges. The acquisition would align with DraftKings' strategy to expand its digital entertainment offerings and attract new user demographics, thereby boosting long-term growth prospects in an increasingly competitive sports betting market. Is DKNG Stock a Good Buy Right Now? In Q1 2025, DraftKings reported revenue of $1.41 billion, an increase of 20% year over year. It reported an adjusted EBITDA of $103 million while maintaining strong operational momentum across key metrics. The company's Sportsbook handle increased 16% year-over-year to $13.9 billion, meeting expectations despite challenging March Madness outcomes. Its structural hold percentage improved to 10.4%, up 60 basis points year-over-year, driven by increased parlay betting and enhanced product offerings from recent acquisitions, such as Simplebet. Management revised full-year 2025 guidance to $6.3 billion in revenue and $850 million in adjusted EBITDA, citing $170 million in revenue headwinds from unfavorable sports outcomes year-to-date. However, core business fundamentals remain strong, with live betting now accounting for more than 50% of the total handle for the first time. DKNG continues expanding its AI capabilities while maintaining disciplined capital allocation, repurchasing $140 million in shares during the quarter. With $1.1 billion in cash, the sports betting giant expects to report $750 million in free cash flow this year. Key growth drivers for DKNG stock include improving promotional efficiency, rising structural hold rates from increased parlay adoption, and expanding live betting capabilities. The integration of Jackpocket into the main platform, planned for the second half, is expected to provide additional user engagement opportunities, supporting diversification beyond traditional sports betting. Is DKNG Stock Undervalued Right Now? Analysts expect DraftKings' revenue to increase from $6.3 billion in 2024 to $11.3 billion in 2029. Comparatively, adjusted earnings are forecast to expand from $1.31 per share to $3.82 per share, while free cash flow is projected to improve from $712.5 million to $2.6 billion in this period. Wall Street expects DKNG stock to benefit from economies of scale, widening its free cash flow margin from 11.3% in 2024 to 23% in 2029. If DKNG stock is priced at 25x forward FCF, which is a reasonable valuation, it could potentially triple over the next four years. Out of the 30 analysts covering DKNG stock, 25 recommend 'Strong Buy,' three recommend 'Moderate Buy,' and two recommend 'Hold.' The average stock price target for DKNG is $54, 25% above its current trading price. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
06-06-2025
- Yahoo
Woman arrested for allegedly posing as police chief at Kentucky news station
LOUISVILLE, Ky. (FOX 56) — A woman was arrested for allegedly impersonating a peace officer and resisting arrest after she claimed to be a member of law enforcement to get inside of a Louisville news station. According to an arrest citation, 60-year-old Dejuana Fife, of Riverdale, Georgia, was arrested on Saturday by Louisville police. New parents share the spotlight at Railbird with help from Wyatt Flores Beshear: May tornado claims 20th victim from McCracken County Gov. Beshear builds on pre-K promise, Kentucky Republicans still have questions Officers were reportedly called to WHAS-TV near the 500 block of West Chestnut after someone demanded to be let into the building. The officers said Fife identified herself to the LMPD officer as the chief of police of the Louisville Metro Police Department and the chief of the FBI. The citation said the police officer told Fife it was a crime to impersonate a peace officer, but she allegedly continued to say she was one, but refused to show any credentials. Airbnb generates an estimated $590 million in Kentucky in 2024 Study shows Kentucky among the poorest states Kentucky's most misspelled word, according to study Fife allegedly resisted arrest before finally being taken into custody. She was charged with impersonating a peace officer and resisting arrest. Her bond was set at $5,000 cash, and she was ordered to undergo a mental health evaluation, with no contact with WHAS-TV. Fife will be back in court for a preliminary hearing on June 10. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-05-2025
- Climate
- Yahoo
Washington County storm leads to ‘serious' damage
Video note: Despite this article's time stamp, the above video is the latest forecast from The Weather Authority. WASHINGTON COUNTY, Ky. (FOX 56) — Washington County authorities are urging the public to stay clear of roads in the area after a storm reportedly left severe damage in its wake on Friday morning. Latest central Kentucky weather forecast FOX 56 chief meteorologist Justin Logan said that just before 7 a.m. on Friday, the NWS issued an alert saying a tornado had been seen in southwest Mercer County, heading east at around 35 miles per hour. Around 7:30 a.m. on Friday, the Washington County Sheriff's Office posted on Facebook that emergency crews are being dispatched to the Long Run Road and Deep Creek areas in response to weather-related emergencies. 'There is serious and severe damage,' Washington County deputies wrote. 'We are asking everyone to stay off the roads for the time being if at all possible.' Railbird returns to Red Mile for third year Washington County storm leads to 'serious' damage Police investigating after armed robbery at Winchester Road gas station Around 8:15 a.m. on Friday, Washington County law enforcement asked the public to avoid roads in the area while crews responded to multiple emergency calls. Tornado warnings were also issued but expired around 7:45 a.m. for Mercer, Boyle, Garrard, and Jessamine counties. Around 8:45 a.m., Gov. Beshear posted on social media that officials are responding to tornado reports in Washington County. 'This level of severe weather was unexpected, with a system still moving through the state,' Beshear wrote. For the latest weather alerts, download the FOX 56 Weather Authority App. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
