DraftKings Launches Standalone Casino Mobile App For iOS Devices

Published: 25/06/2020

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DraftKings released its standalone casino mobile app, available on iOS devices, in New Jersey. The app was the company’s first mobile gambling app not related to sports. Analysts projected stability amidst the continuing threat of the novel coronavirus.

DraftKings is one of the biggest names in the online betting industry. The company’s sportsbook operates in Colorado, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania, and West Virginia.

The company offers a one-stop outlet for patrons’ betting needs through its safe and reliable online betting platform. It allows gamblers to place bets during significant sporting events in many parts of the country. Gamblers can place their bets in various activities, including Baseball, basketball, boxing, cricket, cycling, darts, football, hockey, MMA, motorsports, rugby league, rugby union, and soccer, in the comfort of their homes.

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DraftKings’ Mobile Casino App

The race is on in the development of online gambling platforms. Draftkings’ new casino mobile app showed the eagerness of the company to lead the online gaming industry. Online casino gaming is now available for DraftKings patrons.

Gambler’s favorite casino games are now available on their iOS devices. Popular casino games, including blackjack, roulette, table games, video poker, slots, and other custom games are now available in the new gaming platform. The company also offers exclusive live dealers to provide gamblers an exciting casino experience.

The company will allow third-party companies to integrate into their casino app. Products of other online gambling providers like International Gaming Technology, Slingo, and Scientific Games are now available for DraftKings patrons. The company plans to bring its online casino app to other states where online gambling is allowed.

The company started operations in New Jersey in 2018, with its online sports betting app in the Garden State. It now expands its operations by adding online casino games in its portfolio. Jason March, VP of gaming at the company, said they are thrilled to launch the new online casino, and they are looking forward to releasing new products. The VP said they would continue their expansion in other states that welcome online gambling.

Analyst projects better future

Micheal Graham, an analyst at Canaccord Genuity, raised his estimates on DraftKings during the second quarter. He cited the stability of the company despite the shutdowns caused by the pandemic. Figures also showed an increase in the company’s capital.

The forecasted turnover of the company reached $70 million to $75 million in the second quarter. The analyst projected the company’s return at $72.8 million, a huge increase from $48 million.

The analyst said DFS would lead the increase of $30.2 million. Online sports betting will contribute $13.5 million, while internet casinos reach $14.7 million. The analyst also noted the increase in the company’s capital. Draftkings sold stocks amounting to 16 million while insiders contributed 24 million. Mr. Graham projected the company’s worth at $1.1 billion.

However, market share dropped by nine percent on Monday, when a California senator pulled the proposal to allow sports betting. Legal sports betting in the state won’t be available until 2023 due to the delay caused by the senator’s move.