Deutsche Bank analyst Carlo Santarelli has maintained a Hold rating on DraftKings (NASDAQ: DKNG) while raising the price target for the stock. The new price target is set at $28, an increase from the previous target of $26.

The adjustment reflects the analyst's updated valuation of the company. DraftKings operates in the digital sports entertainment and gaming sector.

DraftKings Inc. plans to launch its top-rated online sportsbook and casino, along with its Golden Nugget Online Gaming brand, in Alberta on July 13. This expansion will make Alberta the second Canadian province and the 34th jurisdiction across North America where DraftKings Sportsbook is available. The move underscores the company's strategy to grow its footprint in regulated markets.

With the launch, DraftKings Casino will be available in five U.S. states, while Golden Nugget Online Gaming casino will be accessible in four U.S. states. Both brands will also be available in Alberta and Ontario in Canada. The dual-brand approach aims to cater to diverse player preferences in these regions.

Ahead of the official launch, DraftKings will host a watch party for the World Cup on July 11 at the Wildhorse Saloon in Calgary. The event is part of DraftKings' broader initiative that has brought fans across North America closer to the excitement of the tournament through a series of watch parties in Los Angeles, Dallas, Miami and Hoboken. Each event has featured live match viewing, giveaways and interactive activations designed to create memorable fan experiences.

To celebrate the launch in Alberta, DraftKings employees will volunteer with Food Banks Alberta and present a $150,000 donation to the organization. The funding will purchase over 40,000 pounds of essential food items to be distributed through Food Banks Alberta's network of member food banks, ensuring resources reach communities both large and small throughout Alberta. This donation will help provide essential food support, including high demand items like fruits and vegetables and baby formula to individuals and families facing hunger, while strengthening local food banks' ability to meet growing demand.

Eligible customers in Alberta will have access to DraftKings’ comprehensive suite of sports betting and online casino offerings. From same-game parlays, live in-game wagering, and special odds boosts on DraftKings Sportsbook to thousands of casino games, including fan-favorite titles like "Wheel of Fortune – Triple Extreme Spin," exclusive slot titles, as well as progressive jackpots across Golden Nugget Online Gaming and DraftKings Casino, DraftKings delivers one of the industry’s most robust and engaging entertainment experiences.

DraftKings leads the industry in responsible engagement by promoting customer awareness and use of budget and control tools and resources like deposit limits, cool off periods, and self-exclusion to help customers have a fun source of entertainment with a brand they can trust.

Key Expansion Details