• Loading stock data...
Monday, March 17, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

DraftKings Stock Soars as Revenue Beats Expectations

  • DraftKings reported $855 million in fourth-quarter revenue.
  • Monthly unique users rose 31% year-over-year to 2.6 million.
Digital signage of for Draft Kings shown inside an NFL stadium.
Mark J. Rebilas-USA TODAY Sports

DraftKings continues to successfully ride the wave of legalized sports betting.

The sports betting platform reported $855 million in fourth-quarter revenue, an 81% increase from $473 million during the same period last year — beating analysts’ estimates of $800 million.

Monthly unique payers rose 31% year-over-year to 2.6 million, with average revenue per monthly unique payer jumping 42% year-over-year to $109.

DraftKings reported a net loss of $1.4 billion for the full year.

During the quarter ending Dec. 31, DraftKings launched its online sportsbook product in Maryland, followed by one in Ohio on Jan. 1, 2023. It now operates mobile sports betting in 20 states and iGaming in five.

The company’s 2023 revenue guidance is $2.85 billion to $3.05 billion, up from the range of $2.8 billion to $3 billion reported in November.

DraftKings expects to launch in Massachusetts and Puerto Rico, pending licensure and regulatory approvals — and has been “found preliminarily suitable” in the Bay State.

CEO and co-founder Jason Robins said DraftKings was the most downloaded sportsbook app in the U.S. on Super Bowl Sunday.

At market close on Friday, DraftKings’ stock was up 15%.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

ESPN Elevates Super Bowl Plans by Hiring Fox NFL Director

ESPN’s Burke Magnus told FOS director Artie Kempner is a ‘unique talent.’
Apr 1, 2024; Portland, OR, USA; USC Trojans guard JuJu Watkins (12) drives to the basket during the second half against UConn Huskies guard Paige Bueckers (5) in the finals of the Portland Regional of the NCAA Tournament at the Moda Center.

As Women’s Tournament Begins, New Generation of Stars in Focus

A deep array of stars showcases the sport’s growth and rising parity.
Mar 14, 2025; Kansas City, MO, USA; Texas Tech Red Raiders guard Kevin Overton (1) and Arizona Wildcats forward Carter Bryant (9) go after a loose ball during the second half at T-Mobile Center.

Robinhood Adding Prediction Market From Kalshi After Super Bowl About-Face

Robinhood’s partnership with Kalshi will be wide-ranging.

Why Women’s Tournament Delays Neutral Sites—and How Hosting Helps

Neutral sites don’t host games until the third round.

Featured Today

Auburn Tigers guard Miles Kelly (13) reacts after hitting a three-point shot against Kentucky during the first half in SEC basketball at Rupp Arena Saturday afternoon in Lexington, Kentucky March 1, 2025

The SEC’s Ascent to Men’s Basketball Supremacy

The league brought its football pageantry and power to college hoops.
San Diego Wave FC falls to Orlando Pride at Snapdragon Stadium in San Diego, CA on April 29, 2023.
March 14, 2025

The New Tailored Approach to Women’s Sports Uniforms

For new women’s sports leagues, every detail is custom.
Iowa Hawkeyes guard Caitlin Clark (22) cuts down the net after beating LSU in the Elite 8 round of the NCAA Women's Basketball Tournament between Iowa and LSU at MVP Arena, Monday, April 1, 2024 in Albany, N.Y.
opinion
March 9, 2025

Reader Mailbag: Leagues Need Must-Watch Moments

Readers responded to NHL success and what it means for other leagues.
Moolah Kicks
March 8, 2025

Breaking the Mold: The Brands Designing Footwear Specifically for Female Athletes

New companies are laser focused on changing the women’s athletic footwear landscape.
Billie Jean King
February 13, 2025

Billie Jean King: ‘Billionaires, Not Millionaires’ Are Fueling Women’s Sports Boom

Billie Jean King wants more women involved in team ownership, too.
February 14, 2025

DraftKings Turns First Full-Year Profit, Stock Up 47% in 2025

The company’s sports betting business continues to grow despite headwinds.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
February 5, 2025

Under Armour’s Desired Turnaround Sees Sparks With Q3 Earnings Beat

The 2010s darling has been struggling to find the right formula.
Russ Brandon
January 14, 2025

UFL President: NFL Used to View Private Equity Like Gambling 

The longtime NFL executive is stunned by the league’s evolution on PE.
October 24, 2024

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.