DraftKings draws a losing hand in 2021, faces challenges in online gambling

DraftKings draws a losing hand in 2021, faces challenges in online gambling

Article brief provided by The Boston Globe
  • Aaron Pressman, The Boston Globe
December 5, 2021 11:28 PM
  • Aaron Pressman, The Boston Globe

Like a poker player drawing nothing but rags, DraftKings chief executive Jason Robins has faced a run of bad luck this year that’s cut his company’s stock price in half since March.

Story continues below

It’s a rude shock for the CEO, who likes to throw out jaw-dropping goals for the nine-year-old Boston company. After comparing DraftKings a few times to e-commerce titan Amazon, Robins has said his online sports-betting company — with a current stock market value of $11.5 billion — aims to be worth $1 trillion in 10 years.

Everything was on track for most of 2020 and the first part of 2021. The company had expanded smoothly from its start in daily fantasy sports games with cash rewards to standard sports betting and, most recently, to online casino games.