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DraftKings (DKNG) to Add Konami Gaming Content With Pariplay

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DraftKings (DKNG - Free Report) announced a partnership with Pariplay, a subsidiary of NeoGames , to bring captivating games from Konami Gaming to players in New Jersey.

Konami Gaming is globally recognized for its engaging portfolio of games for the online and offline verticals. The recent integration into Fusion enables the casino games developer to bring some of its most popular land-based casino titles to new players.

DraftKings players in New Jersey will be able to tap into a wide range of games, including fan-favorite popular classics and upcoming hits.

The move marks the first time that games from Konami Gaming have been made available through DraftKings in New Jersey and follows a deal signed in March which saw NeoGames’ Pariplay supply the operator with online casino content for the Garden State.

Under the terms of the previous deal, Pariplay agreed to supply subsidiary studio Wizard Games’ content and provide exclusive and localized content to DraftKings’ player base.

The addition of Konami Gaming content to DKNG' gaming offering further enhances the player experience and reaffirms the company's commitment to delivering high-quality entertainment to its users in New Jersey.

The share price of the multi-channel sports betting and gaming company has been climbing northward so far in 2023, primarily on tech resurgence.

DraftKings Inc. Price and Consensus

 

DraftKings Inc. Price and Consensus

DraftKings Inc. price-consensus-chart | DraftKings Inc. Quote

Solid Partner Base to Drive User Growth

Notably, sports betting and online gambling company like DraftKings stands to benefit from the accelerated betting on digital platforms like online poker, casino games and lottery.

This Zacks Rank #2 (Buy) company’s continuous efforts to expand the functionality and content offering of its Sportsbook product are expected to drive customer acquisition, engagement and retention. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DraftKings has not just been seeking out individual brands to strengthen its content portfolio. The company similarly teamed up with EveryMatrix to introduce the SlotMatrix portfolio and give the operator an ample selection of worthwhile studio and game choices to strengthen its content offering.

DKNG has also added games by other suppliers over the past months. Some of the operator’s most notable content alliances include one with Design Works Gaming and Bragg Gaming Group.

The company reported revenues of $770 million for the first quarter of 2023. This represents 84% growth when compared with the revenues of $417 million generated during the corresponding period in 2022.

The Zacks Consensus Estimate for second-quarter revenues is pegged at $742.96 million, indicating growth of 59.3% year over year.

Several factors, including effective customer acquisition strategies, innovative product offerings leading to higher profitability, reduced promotional activities in established markets and consistent customer retention rates are expected to boost DKNG’s top-line growth in the near term.

It remains to be seen whether DraftKings can trump competitors like Penn International Gaming (PENN - Free Report) , Corsair Gaming, Inc. (CRSR - Free Report) and DouYu International Holdings Limited in the long run.


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