A significant turnaround in the fortunes of US-based digital sports entertainment and gaming company DraftKings has been announced.
In its first quarter of 2021, the company, supplying over 50 operators in 17 countries, saw a revenue increase to $312m, up from $89m in the same period of last year.
“We are off to an outstanding start in 2021,” said Jason Robins, CEO. “We continued to make progress and remain on track with the migration to our own in-house proprietary sports betting engine, strengthened our content and technology capabilities with the acquisitions of VSiN and BlueRibbon Software and invested in further differentiating our product offering with the upcoming rollout of social functionality in our DFS and mobile sportsbook apps.”
Jason Park, CFO, added: “Our $312m in first quarter revenue, 114 per cent increase in MUPs and 48 per cent growth in ARPMUP reflect solid customer acquisition and retention as well as successful launches of mobile sports betting and igaming in new states.
"We are raising our revenue outlook for 2021 due to the outperformance of our core business in the first quarter and our expectation for continued healthy growth.”
