DraftKings reported revenue of $790 million, up $288 million from $502 million

For the three months ended September 30, 2023, DraftKings reported revenue of $790 million, up $288 million from $502 million in the same period of 2022, driven by continuous sound customer engagement, efficient acquisition of new customers, the expansion of the company’s sportsbook product offerings and product innovation into new jurisdictions, increased playmix and improved retention ratios, and improved reinvestment in promotions in sportsbooks and iGaming.

Jason Robbins, Chief Executive Officer and Co-Founder of DraftKings, said, “Our fantastic Q3 results demonstrate the positive impact of product and technology investments and the excellent preparation and execution of the entire organization.” “Our new and differentiated capabilities have created an exceptional user experience that provides continuous engagement for mobile sports betting and iGaming customers. It has also delivered another successful online sportsbook launch in Kentucky and is looking forward to further launches in Maine and North Carolina pending licensing and regulatory approval. We expect to generate approximately $200 million in positive adjusted EBITDA for the fourth quarter of 2023, based on the midpoint of our updated fiscal 2023 guidance, and look forward to sharing our multi-year outlook on Investor Day on November 14.” 온라인경마

“Draft Kings continues to engage customers in an efficient manner, improves sportsbook structure maintenance and promotion reinvestment for sportsbooks and iGaming, and demonstrates fixed cost discipline,” said DraftKings Chief Financial Officer Jason Park. “We are raising the median FY202 revenue guidance from $3.5 billion to $3.65 billion due to outstanding Q3 results and improving the median FY202 adjusted EBITDA guidance from $205 million to $105 million. We are ready to quickly increase our Adjusted EBITDA as we expect strong sales growth combined with a large fixed cost structure to continue. This trend provides a long runway for margin improvement. Guidance for a midpoint of $4.65 billion and a positive $400 million in FY204 adjusted EBITDA implies a year-over-year gradual revenue growth of nearly $1 billion and an increase in adjusted EBITDA of more than $500 million.”

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