DraftKings Announces $1 Million+ Responsible Gaming Initiative Providing Multi-Year Financial Commitments to State Problem Gambling Councils

Rhea-AI Summary

DraftKings has launched the State Council Funding Program, committing $1.575 million over three years to support problem gambling councils in 35 states. Each council will receive $15,000 annually to enhance services, expand programs, and hire staff. This initiative reflects DraftKings' commitment to responsible gaming, as highlighted by their previous financial investments in education and partnerships with health organizations. The program aims to strengthen local resources for individuals affected by gambling issues, providing a vital line of defense for communities nationwide.

Positive

• Commitment of $1.575 million to support responsible gaming initiatives.
• Each state council receives $15,000 annually to enhance their capacity.
• Strengthens alliances with local nonprofits and state councils for community support.

Negative

• None.

Program Open to the 35 State Problem Gambling Councils, with Councils Having Broad Discretion on How the Money is Best Allocated to Further Responsible Gaming

BOSTON, Jan. 20, 2022 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced a multi-year financial commitment to assist the state councils across the country providing critical funding which will support the work of local nonprofit organizations. As part of the new initiative, entitled The State Council Funding Program, DraftKings has offered each state council $15,000 per year for three years, a total overall commitment of $1,575,000 over the span of the three-year program.

“Having spent several years of my career working with the state council in my home state, Massachusetts, I have seen first-hand how these organizations are a tremendous resource for individuals and families, and serve as a critical stakeholder and partner for gaming operators,” said Christine Thurmond, Director, Responsible Gaming. “DraftKings is committed to advancing responsible gaming in collaboration with state councils across the U.S. Our hope is that this funding will give councils that extra support needed to fund priority areas, expand services, or hire additional staff; whatever is most needed, we want to help financially.”

The State Council Funding Program may be used at the broad discretion of each council to bolster services and programs for individuals and families, and also for council staff, including applying the funds to trainings, conferences, helplines, and general capacity building. A state council may also use the funding to explore the potential for capacity building within neighboring states without a council presence. The program will begin a three-year trial in January 2022.

“State councils provide a first line of defense for addressing the needs of people impacted by problem gambling,” said Keith Whyte, Executive Director, National Council on Problem Gambling (NCPG), whose membership includes the 35 State Affiliate Councils. “While it’s well established that these organizations provide critical assistance in the community, they don’t always have the resources and funds to take treatment and prevention to the next level. This significant initiative by DraftKings shows their commitment to and knowledge of the importance of the work state councils provide.”

The State Council Funding Program announcement comes after an active year for responsible gaming initiatives at DraftKings. In 2021, DraftKings devoted significant financial resources and deployed its responsible gaming staff to spearhead several initiatives including:

• An agreement with the Cambridge Health Alliance, Division on Addiction, Harvard Medical School to pioneer a systems-based approach to employee training in responsible gaming.
• A commitment to the American Gaming Association’s public service campaign Have A Game Plan.® Bet Responsibly™ which teaches consumers best practices in engaging in sports betting, such as the importance of only betting with legal, regulated operators and setting personal limits on play as necessary.
• The expansion of responsible gaming education and marketing using a broad range of customer touchpoints including email, social media, DraftKings retail sportsbooks, and across in-stadium assets including via the Have A Game Plan.® Bet Responsibly™ campaign.
• Multiple financial commitments to support evidence-based research, including one to the International Center for Responsible Gaming for a three-year study assessing risk and prevalence of sports betting problem gaming, and one to the Kindbridge Research Institute, which is embarking on its 50x4 Vets project at the nexus of veterans and responsible gaming.
• A comprehensive in-house approach of offering the responsible gaming team as a key partner to teams across the company.
• Internal investments to strengthen its capacity to promote responsible gaming for all staff and in front of consumers.

A leader in digital sports entertainment and gaming, DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine, and innovate through the DraftKings S.E.R.V.E.S. program, standing for Service, Equity, Responsibility, Vitality, Entrepreneurship and Sports. Responsible gaming is a key pillar of the S.E.R.V.E.S. program and DraftKings’ responsible gaming focus is to protect consumers with groundbreaking technology, effective staff training, education and resources for customers, and through the support of evidence-based research. Additionally, DraftKings tailors its products to provide customers with a robust set of responsible gaming tools they need to play responsibly, including limit setting, cooling-off periods, and self-exclusion, while engaging with customers across social media and other channels to instill responsible gaming behaviors.

To learn more about DraftKings’ commitment to responsible gaming and to advancing social innovation around the world, please visit DraftKings S.E.R.V.E.S.

About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings’ daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

DraftKings Forward-Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contacts
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@DraftKingsNews

FAQ

What is the State Council Funding Program by DraftKings?

The State Council Funding Program is a multi-year initiative by DraftKings, committing $1.575 million to support problem gambling councils across 35 states.

How much funding will each state gambling council receive?

Each state gambling council will receive $15,000 per year for three years.

When did the State Council Funding Program start?

The program began in January 2022.

What is the purpose of DraftKings' funding for state councils?

The funding aims to enhance services, expand programs, and improve resources for individuals and families affected by problem gambling.

How does this initiative reflect DraftKings' commitment to responsible gaming?

It demonstrates DraftKings' commitment through significant financial support and collaboration with local councils to address problem gambling effectively.