Bloomberg
DraftKings gains on higher 2021 forecast, strong revenue
(Bloomberg) – DraftKings Inc. rose as much as 8.1% on Friday after raising its revenue expectations for the year, another sign that sports betting is not slowing. The online gambling company expects $ 900 million to $ 1 billion in revenue for 2021, from $ 750 million to $ 850 million. The increased lead exceeded Wall Street’s expectations of $ 863 million and grew by 40% to 55% compared to the previous year. The most important events ahead include the March Madness and Conference tournaments in college basketball, as well as the playoffs of the NBA and NHL Series. Included in our previous leadership, “said CEO Jason Robins in a statement. Concept Kings reported a 44% increase in monthly unique players to 1.5 million, as an increase in states offering legal gambling attracts new users. The growth in monthly players, which predicted the highest analysis of 1.45 million, was driven in part by growth for traditional online gambling, mobile sports betting and daily fantasy sports users. Revenue from the fourth quarter of $ 322 million is better than the $ 233 million consensus analyst estimate, compiled by Bloomberg. This is the third time the company’s revenue expectation has been exceeded since it was announced by a reverse merger in April, and the stock of raftKings rose 7.1% to $ 61.90 at 9:45 in New York. The stock has risen 230% since its April debut to close on Thursday, better than the 37% S&P 500 rise. (Updates stock movement and chart.) Visit us at bloomberg.com for more articles like this. Sign up now to stay ahead of the most trusted business news source. © 2021 Bloomberg LP