Bloomberg Law
Jan. 6, 2021, 2:40 PM

DraftKings Gains on Report Cuomo to Propose Sports Betting (1)

Janet Freund
Janet Freund
Bloomberg News

(Updates stock move in first bullet; adds Morgan Stanley comments)

  • DraftKings rose as much as 8.3% Wednesday after the NY Daily News wrote that New York Governor Andrew Cuomo will make online sports betting “a central part of his policy proposals to be laid out in next week’s State of the State address.” Penn National gained as much as 5.5%, Caesars added 3.9% and Flutter shares were up as much as 4.5% in Europe to a record high.
  • “While we have been forecasting NY legalizing in late 2022, confirmation would be a positive,” wrote Morgan Stanley analyst Thomas Allen; ...

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