DraftKings published the financial report for the third quarter ended September 30 this year. After the business combination with SBTech Limited and Diamond Eagle Acquisition Corp, revenue rose 42% compared to the same time last year.
Co-founder, CEO and President Jason Robins noted the resumption of traditional sports such as the NBA, NHL and MLB in this third quarter, as well as the start of the NFL season, resulting in a huge customer engagement in those 90 days.
“In addition to our pro forma revenue growth of 42%, DraftKings recorded a 64% increase in monthly single payers to over 1 million, demonstrating the effectiveness of our data-based marketing and sales approach,” said Robins.
He stated: “Our product offerings and scalable platform provide a distinct and personalized experience for customers in the ten states where we operate mobile sports betting today, and we look forward to entering other jurisdictions at the earliest opportunity.”
According to SBC Notícias, the company also told investors that it will expand its pro forma revenue forecast for this year by 25% to 30%, even with the new coronavirus interfering in the world sports calendar.
However, this prediction presupposes that all the sporting schedules disclosed are fulfilled without changes until the end of the respective competitions, as well as the company continues to operate in the states in which it is today.
DraftKings also changes forecast for 2021
The forecast for next year was also changed to US $ 750 million – US $ 850 million, which is equivalent to a 45% growth.
In the released document, investors found details of DraftKings’ activity in several states. During the third quarter, the company relied on the mobile sports betting service in Illinois and igaming in West Virginia.
“As a result of the suspension of Illinois Governor JB Pritzker from the personal registration requirement, DraftKings was able to acquire new Illinois customers for the platform, as well as cross-sell existing product offerings. Illinois quickly became the fastest growing state, as well as one of its largest states in terms of control, ”the company report said.
Also according to the document: “after the successful launch in Tennessee, DraftKings now offers mobile sports betting in 10 states, which is more than any other company in the industry. These 10 states together represent 20% of the US population, a position that DraftKings achieved just two and a half years after the Supreme Court overturned the 1992 Professional and Amateur Sports Protection Act. ”
