Sports betting operator DraftKings is issuing yet more shares to cash in on investor hype, while claiming its Q3 revenue will survive a run of NFL bettor luck.

On Monday, DraftKings announced a plan to sell 16m of its shares and current shareholders are selling an additional 16m shares while the selling’s good. The company’s share price closed out Friday’s trading at a record $63.78, as the return of major league sports play offered investors yet another reason for irrational exuberance.

Among the investors looking to cash out some of their holdings is Shalom Meckenzie, founder of SBTech, which became part of the DraftKings fold earlier this year. McKenzie is selling 8.5m DK shares, which will reduce his stake in the company to around 5%. DK board member John Salter and his Raine Group are selling 5.4m shares, while New England Patriots owner Robert Kraft is selling nearly 286k shares.

DraftKings will also allow its underwriters to purchase 4.8m additional shares, putting a total of 36.8m shares in play. The company says it plans to use the proceeds of the share issue – which at current prices could total $1b – for ‘general corporate purposes,’ including continuing to promote its wares like an aggressive prostitute in Times Square circa 1977.