BOSTON, August 28, 2026, 16:35 (EDT).
- DraftKings shares rose 4.23% to $25.26 on 19.82 million shares.
- The NFL renewed a multi-year sportsbook agreement with DraftKings and FanDuel.
- Fanatics joined as a third official operator; financial terms were not disclosed.
- DraftKings’ second-quarter sports volume rose 15% while revenue fell 4.6%.
DraftKings Inc. (NASDAQ: DKNG) shares climbed 4.23% on Friday after the NFL renewed its official sportsbook partnership. The stock closed at $25.26 on 19.82 million shares.
The move added roughly $910 million to DraftKings’ equity value. It also restored a commercial channel that had lapsed in March. The new agreement is multi-year, though pricing remains undisclosed.
The NFL retained DraftKings and FanDuel while adding Fanatics Betting and Gaming. Each operator receives league marks, official data and integrations across NFL media properties. DraftKings remains the league’s official daily fantasy sports partner NFL announcement.
That access matters because football drives customer acquisition and repeat wagering. Americans legally wagered an estimated $30 billion on the 2025 NFL season. The 2026 season begins September 9 Reuters.
| U.S.-listed operator | Aug. 28 price | Daily move | Volume | NFL role |
|---|---|---|---|---|
| DraftKings (DKNG) | $25.26 | +4.23% | 19.82m | Official sportsbook; official DFS partner |
| Flutter/FanDuel (FLUT) | $101.78 | +7.12% | 3.01m | Official sportsbook |
| PENN Entertainment (PENN) | $17.36 | +0.12% | 2.18m | No role in the new agreement |
The comparison shows broad strength among the two public sportsbook leaders. Flutter Entertainment (NYSE: FLUT), FanDuel’s parent, gained 7.12%. PENN Entertainment (NASDAQ: PENN) finished nearly flat.
DraftKings enters the football season with growing activity but weaker monetization. Second-quarter sports volume rose 15% to $13.1 billion. Monthly unique payers increased 9% to 3.6 million.
Revenue nevertheless fell 4.6% to $1.443 billion. Average revenue per payer dropped 13% to $132. Customer-friendly outcomes and heavier promotions pressured both figures DraftKings results.
The NFL renewal protects a high-intent acquisition funnel. Yet Fanatics’ arrival creates another bidder for those customers. Investors must watch whether official access improves retention without reigniting promotional spending.
Management still expects 2026 revenue of $6.5 billion to $6.9 billion. Adjusted EBITDA guidance remains $700 million to $900 million. At Friday’s market value, DraftKings trades near 3.4 times the midpoint of that sales range.
The commercial terms are the largest missing variable. The NFL’s prior sportsbook agreements were expensive, and official data carries recurring costs. No disclosed contract value allows a clean margin estimate.
Risks: unfavorable game outcomes can depress sportsbook hold quickly. Higher taxes, tighter regulation and aggressive FanDuel or Fanatics promotions could also absorb the partnership’s revenue benefit.
Friday’s rally prices the renewal as continuity, not a new monopoly. The key test arrives during football season: whether DraftKings converts league visibility into payer growth without another decline in revenue per user.
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