![]() ![]() The company had previously predicted an EBITDA loss of $290m to $340m. In May, the company projected annual revenue of up to $3.24bn.ĭraftKings also forecast a narrower loss for the year, and now expects an adjusted annual loss of $190m to $220m before interest, taxes, depreciation and amortization. The Boston-based company raised its guidance for the year, and now projects total revenue of up to $3.54bn. However, he said that would come with an expected loss of $30m to 2023's adjusted EBITDA. Park said DraftKings is expecting $20m in additional revenue from Kentucky for the rest of the year. “We are very excited that Kentucky’s Horse Racing Commission recently set a target launch date of September 28, 2023, for online sports betting, which is sooner than we previously anticipated,” CFO Jason Park told analysts during the company's second quarter earnings call. ![]() With the company also exploring opportunities in Nevada, the sooner-than-expected launch of legal sports betting in Kentucky has not prevented DraftKings from reporting a significant increase in profitability this upcoming football season.ĭraftKings is already live in Kentucky with its horseracing app, but the company confirmed Friday (August 4) that it plans to launch an online sports-betting app in the state as soon as mobile wagering begins next month, pending regulatory approvals. ![]()
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