DraftKings Inc. (Nasdaq: DKNG) announced today that the Missouri Gaming Commission has granted the company a direct mobile sports betting license. This direct mobile sports betting license will enable DraftKings to operate independently across the state of Missouri,

DraftKings (NASDAQ:DKNG) and Circa Sports are early leaders in the Missouri sports betting race after the Missouri Gaming Commission selected them as  the winners of the state's two highly coveted untethered online sports betting licenses.

Many of the top sportsbooks have been applying for untethered licenses in the state of Missouri ahead of legal sports betting launching later this year, and we now know who those two operators will be.

The Missouri Gaming Commission awarded sports wagering licenses to DraftKings and Circa Hospitality on Friday as the state moves toward launching legalized sports betting in December.

DraftKings and Circa Sports will have the ability to operate independently without needing affiliation with an in-state casino or sports team in Missouri

The move from the Missouri Gaming Commission to pass up FanDuel for a sports betting license was seen as a major surprise. DraftKings and Circa Sports were selected instead.

Most investors weren't swayed by its second-quarter report. After more than a year's worth of unrewarded growth, they should have been.