The online sports betting company DraftKings has announced its acquisition of Tel Aviv based Blue Ribbon Software in a bid to improve the customer experience.
The company plans on utilizing Blue Ribbon’s technology to create personalized promotions and rewards tailored to the individual customer or jackpots that pay out across DraftKings’ various product offerings.
By integrating the new software, DraftKings plans to increase the gamification of the betting experience and to drive customer loyalty on its platforms.
DraftKings has been one of the best performing stocks since the beginning of 2020 as investors have hoped to ride the trend of online gambling legalization in the United States.
Now, the company is hoping to deliver on those hopes, but it may take some time as its shares are currently trading at roughly 25x its 2021 full year revenue guidance, so rapid growth and a turn to profitability must both be in its future. Otherwise, its shares could be under significant pressure.