Draftkings Breaking News, This Is Why The Stock Is Falling DKNG Stock

15 Jun 2021

DraftKings falls sharply after Hindenburg Research warns on black market links
Hindenburg Research is negative on DraftKings (NASDAQ:DKNG) as it warns that the company's merger with SBTech brings its exposure to extensive dealings in black-market gaming, money laundering and organized crime.
"Based on conversations with multiple former employees, a review of SEC & international filings, and inspection of back-end infrastructure at illicit international gaming websites, we show that SBTech has a long and ongoing record of operating in black markets," updates Hindenburg.
The short-selling firm estimate 50% of SBTech's revenue is from markets where gambling is banned. DraftKings is accused of systematically skirting the law and taking elaborate steps to "obfuscate" its black market operations. SOURCE: https://seekingalpha.com/news/....3706398-draftkings-f

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