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Online-gambling and fantasy-sports company DraftKings Inc. US:DKNG posted a wider-than-expected loss for the first quarter and sales that lagged estimates as live sporting events were canceled due to the pandemic. The company, which went public in April via a blank-check company merger with a $6 billion valuation, said revenue jumped 30% despite the effects of COVID-19. The company has continued to make progress on priorities, including entering new states, and investing in product and technology to create more live betting for American-based sports. The company has created products that allow customers to engage in fantasy sports and betting on eNASCAR, Counter Strike, and Rocket League, as well as pop culture events such as TV shows “Survivor,” “The Last Dance” and “Top Chef.” The company does not anticipate an impact to FY2021 or long-term plans due to COVID-19,” it said in a statement.



4-Hour Chart has gone stratospheric in the past two-months, up 200% on just news and speculation about how legalized betting will take off in the USA:

http://schrts.co/PfSfsrTr
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