Analyst: DraftKings Stands to Gain From NBA Positivity About Sports Betting

As digital sports betting legalization continues its spread across the United States and online sportsbook activity gains popularity by leaps and bounds, an analyst telephone conversation with an NBA executive hints good things may be in store for DraftKings (NASDAQ: DKNG) and other sector companies. DraftKings just inked a partnership with the Drone Racing League, or DRL, last weekend, and now may be in line for an even bigger alliance.

Jed Kelly, an analyst at wealth management firm Oppenheimer & Co., recently reported on a phone conference with Scott Kaufman-Ross, senior vice president and head of fantasy & gaming at the NBA, Seeking Alpha reports. According to Kelly, the "NBA is choosing to form partnerships with multiple operators to help drive more innovation to the industry and improve fan experiences."

Image source: Getty Images.

Continue reading

Source Fool.com