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DraftKings and Penn Entertainment rally after sports betting data comes in strong

Summarized by: Live Sports Direct
 
DraftKings and Penn Entertainment rally after sports betting data comes in strong

FanDuel and DraftKings are the top two sportsbook operators in New York. Needham notes that the recent NFL losing weeks for favored teams pointed to a strong weekend for sportsbooks. Jefferies keeps Buy ratings on Flutter Entertainment, Draft Kings, MGM Resorts International, Caesars Entertainment and Penn Entertainment. The firm sees online sports betting and iGaming as a $35B market opportunity. Draft kings shares were up 6.93% at 2:12 p.m. on Monday and Penn shares gained 4.29%.

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