The New York Gaming Commission just released numbers showing how New York-based sportsbooks performed during the recent Super Bowl, and the most surprising revelation is how much better one of the biggest sportsbooks did than one of its rivals.DraftKings DKNG, -7.29% made $8.8 million in revenue from $52.3 million in Super Bowl bets, while BetMGM MGM, -0.42% lost $4.8 million after taking in $10.8 million in bets.The biggest sportsbooks had the San Francisco 49ers winning the game against the Kansas City Ch ...

DraftKings shares were shrugging off the company’s latest earnings report, but bulls found plenty of reasons to cheer. As MoffettNathanson’s Robert Fishman put it, “it is not really an exaggeration to say almost everything went right for DraftKings” in 2023, and the biggest stumbling block for the company was likely adverse outcomes for some sporting events. Those negative event outcomes helped drive the company to a surprise loss in the latest quarter. Prior to that, DraftKings DKNG, +0.35% had beaten bott ...

DraftKings Inc. (NASDAQ:DKNG) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder, Chairman & CEO Jason Park - CFO Conference Call Participants David Katz - Jefferies Shaun Kelley - Bank of America Joe Greff - JPMorgan Robin Farley - UBS Daniel Politzer - Wells Fargo Robert Fishman - MoffettNathanson Joe Stauff - SIG Stephen Grambling - Morgan Stanley Bernard McTernan - Needham & Company Chad Beynon - Macquarie Jord ...

Super Bowl LVIII was great for ratings, averaging a record 123.7 million viewers, according to Nielsen. It also appeared to be a notable one for major betting companies. FanDuel said it ended up fielding a handle of over $307 million from over 14 million Super Bowl bets. That, the company said, was a "new high."Over 2.5 million active users made those wagers, according to FanDuel. Meanwhile, fellow betting company DraftKings said on Thursday that it had over 2.4 million customers wagering on the big game pi ...

For many sports betting companies, the Super Bowl is, well, their Super Bowl.But daily fantasy sports contest and sports betting company DraftKings is more focused on winning the lottery, announcing Thursday (Feb. 15) that it has reached an agreement to acquire Jackpocket, a leading digital lottery app in the United States, for total consideration of approximately $750 million.On Friday’s (Feb. 16) fourth-quarter 2023 earnings call, DraftKings executives told investors that they anticipated “significant cus ...

Key PointsDraftKings had a solid quarter despite missing the analysts' consensus for revenue by less than 100 bps. Adjusted margin improved and was better than expected, leading to enhanced guidance. Analysts are defending their bullish positions and helping to support the market; a rebound may come soon. 5 stocks we like better than DraftKingsThe DraftKings Inc. NASDAQ: DKNG share price fell more than 5% following the Q4 release and guidance update, and it could be bad news for investors. A 5% move is subs ...

Draftkings Inc (NASDAQ:DKNG) posted narrower full-year losses, but shares in the sports betting firm were hit as the fourth-quarter figure fell short of analysts' expectations. Per share losses for 2023  came in at US$1.73, compared to US$3.16 in 2022, Draftkings reported on Thursday. For the fourth quarter, losses per share were US$0.10 against US$0.53 a year earlier but worse than analysts’ expected US$0.06. Revenue for the three months to December of $1.23 billion surpassed expectations, rising by 44%. A ...

DraftKings (DKNG) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of $0.06. This compares to loss of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -266.67%. A quarter ago, it was expected that this company would post a loss of $0.69 per share when it actually produced a loss of $0.61, delivering a surprise of 11.59%.Over the last four quarters, the company has surpassed consensus E ...

In this photo illustration the DraftKings logo seen displayed on a smartphone.DraftKings on Thursday posted quarterly results that missed Wall Street estimates on the top and bottom line, but it increased its revenue by 44%.Here's what DraftKings reported compared with what Wall Street was expecting, according to analyst estimates compiled by LSEG, formerly known as Refinitiv:Loss per share: 10 cents vs. expected profit of 8 centsRevenue: $1.23 billion vs. $1.24 billion expectedThe sports betting company sa ...

DraftKings Inc. shares dropped more than 2% in the extended session Thursday after the sports-betting platform surprised Wall Street with a quarterly loss and revenue that was merely in line with expectations. DraftKings DKNG lost $45 million, or 10 cents a share, in the fourth quarter, compared with a loss of $243 million, or 53 cents a share, in the year-ago quarter. Revenue... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywher ...