DraftKings Soars After Investors Bet on Earnings Smasher, Guidance Raise and Profitability Hint

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DraftKings Soars After Investors Bet on Earnings Smasher, Guidance Raise and Profitability Hint

Seeking Alpha2023-05-05

DraftKings (NASDAQ:DKNG) reported revenue rose 84% in Q1 to $770M. The sports betting giant pointed to the efficient acquisition of new customers, product innovation driving higher hold percentage, ...

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The sports betting giant pointed to the efficient acquisition of new customers, product innovation driving higher hold percentage, ...</p>\n\n<a href=\"https://seekingalpha.com/news/3966019-draftkings-soars-after-investors-bet-on-earnings-smasher-guidance-raise-and-profitability-hint\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DKNG","symbol_name":"DraftKings Inc.","start_time":0,"source_url":"https://seekingalpha.com/news/3966019-draftkings-soars-after-investors-bet-on-earnings-smasher-guidance-raise-and-profitability-hint","article_id":"1129483498","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1129483498","pubTimestamp":1683242662,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"DraftKings (NASDAQ:DKNG) reported revenue rose 84% in Q1 to $770M. 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The increase was said to reflect strong unique payer retention and acquisition across DraftKings’ Sportsbook and iGaming products as well as the expansion of its Sportsbook and iGaming products into new jurisdictions. Average revenue per MUP was up 35% during the quarter to $92 in the quarter. The increase was tied to improvement in the company’s structural sportsbook hold rate and reduced promotional intensity.At the end of the quarter, DraftKings (DKNG) was live with mobile sports betting in 21 states that collectively represent approximately 44% of the U.S. population following the launch of its online Sportsbook product in Massachusetts on March 10. 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