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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 Reports Strong Q4 2021 Results with 47% Revenue Increase
On February 18, 2022, DraftKings (Nasdaq: DKNG) reported a remarkable 47% year-over-year revenue increase, achieving $473 million in Q4 2021, surpassing guidance by 8%. Full-year revenue grew 101% from 2020. Key metrics showed a 32% rise in Monthly Unique Payers and a 19% growth in Average Revenue Per Monthly Unique Payer. The company raised its 2022 revenue guidance to $1.85 billion to $2.0 billion, reflecting anticipated growth from new state launches, despite expecting an Adjusted EBITDA loss between $825 million and $925 million.
Paysafe (NYSE: PSFE) has expanded its payment processing and affiliate services into the Louisiana and Oregon mobile sports betting markets. The company's partnerships with major sportsbooks like Caesars Entertainment (NASDAQ: CZR) and DraftKings (NASDAQ: DKNG) are set to capitalize on a projected annual market handle of
DraftKings will host a virtual Investor Day on March 3, 2022, starting at 9:00 a.m. ET. The event, lasting approximately two hours, will feature presentations by CEO Jason Robins and CFO Jason Park.
The agenda includes insights on the total addressable market, market share and product innovation, customer cohort payback and state profitability results, along with an updated long-term Adjusted EBITDA outlook. A live Q&A session will follow the presentations.
Registration for the event is available on the DraftKings Investor Relations website, with an on-demand replay to be provided afterwards.
DraftKings Inc. has announced the launch of its online sportsbook in Louisiana, following the opening of a retail sportsbook in collaboration with Golden Nugget Casino Lake Charles. The mobile betting service will be available starting 8 am CT on January 28, making Louisiana the 17th state to offer DraftKings' online sports betting. The company aims to enhance accessibility for sports fans, building on its existing retail presence. DraftKings emphasizes responsible gaming practices and has seen notable interest in NFL and collegiate sports wagering since its retail launch in November 2021.
DraftKings Inc. (Nasdaq: DKNG) will release its fourth quarter and year-end 2021 results on February 18, 2022, before 8:30 AM EST. The Company will then host a conference call at the same time to discuss the results. Interested parties can access the earnings press release and additional materials on the Company’s investor relations website, which will also host an audio webcast and live Q&A session on the same day.
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.
DraftKings Inc. has entered an exclusive partnership with the Tulalip Tribes of Washington to establish retail sportsbooks in the state. Locations are planned at the Tulalip Resort Casino and Quil Ceda Creek Casino, enhancing the gaming experience in Washington, marking the state as the 19th for DraftKings' sportsbook operations. The Tulalip Resort sportsbook is set to feature a 5,000 square-foot area with advanced technology, including a 50-foot video wall. This partnership aims to deliver superior sports betting experiences to a passionate local fanbase.
DraftKings announced it will become the official sportsbook provider for the Oregon Lottery, replacing the Scoreboard app starting January 18, 2022. Current Scoreboard customers can transfer their funds to the DraftKings Sportsbook app during this transition. This agreement marks DraftKings' second exclusive partnership with a state lottery, boosting their market presence ahead of key NFL events. The company emphasizes a commitment to responsible gaming, offering tools like deposit limits, and has also initiated environmental efforts in the region.
DraftKings Inc. is set to launch its mobile and online sportsbook in New York on January 8, 2022, making it the largest state for DraftKings' operations. This launch places DraftKings among the first operators in New York, coinciding with the NFL Playoffs, a peak betting season. The state's sports culture, fueled by numerous professional teams, presents a significant market opportunity. Customers aged 21 and above can engage in various betting activities, although betting on New York colleges is prohibited. This comes after a previous retail sportsbook opening in August 2019.
DraftKings, in partnership with the NFL Players Association and OneTeam Partners, is set to launch NFT-based games featuring NFL players during the 2022-2023 season. This integration will mark the first gamified NFTs endorsed by active NFL players, utilizing their name, image, and likeness rights. Players can expect diverse NFT collections, allowing them to engage in games, buy, and sell collectibles on the DraftKings Marketplace, supported by a partnership with Polygon for efficient blockchain operations.
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