DraftKings Poised to Benefit as Sports Restart
DraftKings (NASDAQ: DKNG) is going through the most challenging time in its young history. The coronavirus pandemic caused major sports leagues to suspend or pause their seasons. And since DraftKings derives almost all its revenue from creating contests that reward prizes based on the outcome of sporting events, it has been devastating to its business.
Fortunately for DraftKings, the world is entering the next phase of the pandemic, which is a slow reopening of the economy. Sports leagues received the necessary permission from government authorities to restart their seasons if they follow the required health protocols. Let's take a closer look at how DraftKings is poised to benefit as a result.
The National Basketball Association is set to resume action on July 30. Image source: Getty images.
Source Fool.com
