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DraftKings Inc. (NASDAQ: DKNG) is a prominent American company specializing in daily fantasy sports contests and sports betting. Originating in 2012, DraftKings has made significant strides in the digital sports entertainment industry. The company offers daily and weekly fantasy sports-related contests where users can win money based on individual player performances across a variety of sports, including Major League Baseball (MLB), National Hockey League (NHL), National Football League (NFL), National Basketball Association (NBA), and the Professional Golfers' Association (PGA), among others.
Following the Supreme Court ruling in 2018, which allowed states to legalize online sports wagering, DraftKings expanded into online sports and casino gambling. It currently ranks as one of the top operators in the industry, maintaining a strong presence in both online and retail sports betting across 27 states, as well as iGaming operations in seven states. The company's offerings are also accessible to approximately 40% of Canada's population.
DraftKings operates a diverse portfolio that includes a non-fungible token (NFT) marketplace and licenses online gaming products. The company is committed to creating engaging and responsible gaming experiences. It has formed strategic partnerships with several major sports leagues, such as the NFL, NHL, PGA TOUR, UFC, NBA, and MLB, to enhance its fantasy sports and sports betting offerings. Additionally, DraftKings is an official partner of NASCAR and an authorized gaming operator of MLB.
In recent developments, DraftKings anticipates a significant boost in adjusted EBITDA, projecting an increase of $60 million to $100 million by the fiscal year 2026. The company also prioritizes responsible gaming and corporate social responsibility, offering extensive resources and programs to ensure player well-being.
Headquartered in Boston, DraftKings continues to innovate and lead in the realm of digital sports entertainment. With a mission to fuel the competitive spirit of sports fans, DraftKings is dedicated to delivering the world's favorite real-money games and betting experiences.
DraftKings reported strong Q3 2024 results with revenue of $1,095 million, up 39% year-over-year. Monthly Unique Payers increased 55% to 3.6 million, while Average Revenue per MUP decreased 10% to $103. The company introduced FY2025 revenue guidance of $6.2-6.6 billion and reiterated Adjusted EBITDA guidance of $900 million to $1.0 billion. However, DraftKings revised down its FY2024 guidance due to customer-friendly sport outcomes, now expecting revenue of $4.85-4.95 billion and Adjusted EBITDA of $240-280 million.
DraftKings Inc. (Nasdaq: DKNG) has announced the release date for its third quarter 2024 financial results. The company will publish its results after market close on Thursday, November 7, 2024. Following the release, DraftKings will host a conference call and audio webcast on Friday, November 8, 2024, at 8:30 a.m. ET.
During the call, management will discuss the company's results and provide commentary on business performance. Interested parties can access the audio webcast and live Q&A session through DraftKings' investor relations website at investors.draftkings.com. The audio webcast will remain available on the website until 11:59 p.m. ET on December 31, 2024.
DraftKings (Nasdaq: DKNG) has announced that CEO and Co-founder Jason Robins will participate in the Bank of America Gaming and Lodging Conference on September 5, 2024. The event will feature a fireside chat scheduled for 12:20PM ET. Interested parties can access the live audio of the conference through the official conference website or DraftKings' Investor Relations website. This participation provides an opportunity for investors and analysts to gain insights into DraftKings' strategies and market position directly from the company's leadership.
DraftKings reported a 26% increase in Q2 2024 revenue, reaching $1,104 million, mainly due to customer engagement and the acquisition of Jackpocket. The company announced a $1.0 billion share repurchase authorization, reflecting confidence in its long-term outlook. For 2024, revenue guidance was raised to $5.15 billion, while adjusted EBITDA guidance was revised down to $380 million. Monthly Unique Payers (MUPs) rose by 50% to 3.1 million, though Average Revenue per MUP (ARPMUP) declined by 15% to $117 due to new customer promotions. DraftKings expects 2025 adjusted EBITDA to be between $900 million and $1.0 billion. CEO Jason Robins emphasized strong customer acquisition and retention, while CFO Alan Ellingson highlighted the company's healthy balance sheet.
DraftKings Inc. (Nasdaq: DKNG) has announced plans to launch its online sportsbook in Washington D.C., pending regulatory approvals. This expansion follows a market access agreement with D.C. United, potentially making Washington D.C. the 29th jurisdiction in North America for DraftKings Sportsbook. The launch will offer D.C. sports fans access to various betting markets, including same-game parlays and in-game betting.
DraftKings emphasizes its commitment to responsible gaming, offering tools like deposit limits, cool-off features, and the 'My Stat Sheet' for personalized gaming insights. The company is also an active member of the American Gaming Association, promoting responsible betting practices.
DraftKings Inc. (Nasdaq: DKNG) has announced the release date for its second quarter 2024 financial results. The company will publish its Q2 2024 results after market close on Thursday, August 1, 2024. Following this, DraftKings will host a conference call and audio webcast on Friday, August 2, 2024, at 8:30 a.m. ET.
During the call, management will discuss the company's results and provide commentary on business performance. Investors and interested parties can access the audio webcast and live Q&A session through DraftKings' investor relations website. The audio webcast will remain available on the website until 11:59 p.m. ET on September 30, 2024.
DraftKings (Nasdaq: DKNG) has finalized its acquisition of Jackpocket, a leading digital lottery app in the U.S., on May 23, 2024.
CEO Jason Robins highlighted the plan to leverage Jackpocket's technology to enhance customer acquisition and expand DraftKings' digital lottery offerings.
Jackpocket CEO Peter Sullivan emphasized the synergy in driving growth and innovation in the digital lottery sector. This acquisition allows DraftKings to diversify its product portfolio and improve customer lifetime value while maintaining a focus on responsible gaming.
DraftKings Inc. (Nasdaq: DKNG) reported a remarkable 53% revenue growth to $1,175 million in the first quarter of 2024. The company's strong performance was fueled by efficient customer engagement, new customer acquisition, and product expansion. DraftKings raised its 2024 revenue guidance midpoint to $4.9 billion and Adjusted EBITDA guidance to $500 million, showing optimistic growth prospects.
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