Why DraftKings Blasted Higher on Monday
Whoever placed a bet and collected on DraftKings (NASDAQ: DKNG) Monday came home a winner. Shares of the next-generation sports betting company rose by nearly 7% on the day, following some important news in its sector.
DraftKings benefited from an international stock deal that is currently shaping up. Veteran casino resort operator Caesars Entertainment has made an approximately $3.7 billion offer for long-standing U.K. betting services provider William Hill. That values the British company at a rich 25% premium to its Thursday closing share price.
It's a clear vote of confidence in the future of sports gambling, which has taken off lately due mainly to two factors.
Source Fool.com
