BOSTON, Nov. 24, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) today announced plans to launch its top-rated mobile sportsbook in Missouri on December 1, 2025. Earlier this year, the Missouri Gaming Commission granted DraftKings a temporary direct mobile sports wagering license, allowing DraftKings to operate independently across the state without the need for affiliation with a land-based casino or professional sports team. Missouri will become the 29th U.S. state where DraftKings offers sports w ...

Financial Data and Key Metrics Changes - In Q3 2025, the company generated $1,144 million in revenue, representing a 4% year-over-year growth [16] - Adjusted EBITDA for Q3 was negative $127 million, impacted by customer-friendly sports outcomes that affected revenue by over $300 million [16][10] - The company revised its fiscal year 2025 revenue guidance to $5.9 billion-$6.1 billion and adjusted EBITDA guidance to $450 million-$550 million, reflecting a growth of 24%-28% compared to fiscal year 2024 [18] Business Line Data and Key Metrics Changes - Sportsbook handle increased by 10% year-over-year to $11.4 billion, with strong engagement driven by promotions [17] - iGaming net revenue growth accelerated to 25% year-over-year, marking the fastest growth since Q1 2024 [8] - The parlay handle mix surged, with year-over-year gains of 800 basis points for NFL and 1,000 basis points for NBA season to date [8] Market Data and Key Metrics Changes - NFL handle grew 13% season to date, while NBA handle increased by 19% season to date, indicating an acceleration in growth compared to previous quarters [7] - Total sportsbook handle increased by 17% year-over-year in October [8] Company Strategy and Development Direction - The company is optimistic about future growth, driven by exclusive marketing agreements with ESPN and NBCUniversal, and the upcoming launch of DraftKings Predictions [5][12] - The focus will be on states without existing online sports betting, aiming to capture a new customer base and revenue stream [12][41] - The share repurchase program has been increased from $1 billion to $2 billion, indicating confidence in future cash flow [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of sports outcomes on financial results but emphasized that over time, these variances typically normalize [10][24] - The company remains confident in its long-term financial potential, citing strong customer retention rates and product enhancements driving engagement [5][7] - Management expressed excitement about the potential of DraftKings Predictions to expand the total addressable market [12] Other Important Information - The company is developing a Spanish-language app to cater to a growing demographic ahead of the 2026 World Cup [9][93] - The company has made significant progress in growing its sportsbook hold percentage and net revenue margin, primarily due to an increasing parlay handle mix [9] Q&A Session Summary Question: OSB hold percentage and confidence in future swings - Management acknowledged the frustration with recent outcomes but noted that over time, results tend to normalize, and the business model remains strong [21][24] Question: Value addition of new board member Greg Went - Management expressed excitement about Greg Went's expertise in gaming investment and his potential contributions to the company's strategy [25] Question: Volatility of hold due to parlay increases - Management indicated that while parlay betting can increase volatility, the focus remains on maximizing long-term value while managing risk appropriately [29][30] Question: Profitability of prediction markets - Management plans to adopt a conservative approach to investment in prediction markets, focusing on data-driven decisions and shorter payback periods [32][33] Question: Conversations with regulators regarding prediction markets - Management emphasized the importance of relationships with regulators and the strategic focus on states without existing online sports betting [38][41] Question: Significance of ESPN deal - Management highlighted the long-standing relationship with ESPN and the potential for significant customer engagement through integrated marketing efforts [51][52] Question: Breakdown of the $300 million impact on guidance - Management indicated that most of the impact was due to sports outcomes, with some additional considerations for prediction market spending [62] Question: Investment strategy for next year - Management stated that there would be minimal incremental investment in core business areas, with a focus on new states and AI technology [70] Question: Customer acquisition through Spanish-language app - Management expressed optimism about the potential for the Spanish-language app to capture a significant share of the growing Hispanic demographic [93][95] Question: Attribution of growth in parlay mix - Management attributed the growth in parlay mix to product innovation and effective promotional strategies [98][100]

Core Insights - DraftKings reported a revenue of $1,144 million for Q3 2025, marking a 4% increase from $1,095 million in Q3 2024, driven by strong customer engagement and higher Sportsbook hold percentage [2][3] - The company anticipates a fiscal year 2025 revenue guidance of $5.9 billion to $6.1 billion, reflecting a year-over-year growth of 24% to 28% [7][5] - DraftKings plans to launch its new product, DraftKings Predictions, which is expected to provide significant incremental opportunities [3] Financial Performance - Revenue for Q3 2025 was $1,144 million, up $49 million from the previous year, with Sportsbook Handle increasing by 17% year-over-year in October [2][19] - Monthly Unique Payers (MUPs) rose by approximately 2% to 3.6 million in Q3 2025, with Average Revenue per MUP (ARPMUP) increasing to $106, a 3% rise compared to Q3 2024 [7][19] - Adjusted EBITDA for Q3 2025 was reported at $(126,488) thousand, compared to $(58,504) thousand in Q3 2024 [29] Strategic Developments - The company is live with mobile sports betting in 25 states and Washington, D.C., covering about 49% of the U.S. population, and plans to launch in Missouri pending regulatory approvals [6][12] - DraftKings has increased its share repurchase program from $1 billion to $2 billion, indicating a focus on maximizing shareholder returns [3][5] - The company is also expanding its iGaming footprint, currently operational in five states, representing approximately 11% of the U.S. population [12][6] Operational Metrics - Sportsbook Handle for Q3 2025 was $11.4 billion, a 10% increase from $10.4 billion in Q3 2024, while Sportsbook revenue decreased by 9.3% to $596 million [19][15] - iGaming revenue increased by 24.9% to $451 million, reflecting strong growth in this segment [19][15] - The total assets of DraftKings as of September 30, 2025, were $4.62 billion, up from $4.28 billion at the end of 2024 [11][10]

Core Insights - DraftKings Inc. has appointed Gregory W. Wendt as an independent director on its Board, effective October 24, 2025, following a recommendation from the Nominating and Corporate Governance Committee [1] - Wendt brings extensive experience in investment management and a strong understanding of the gaming sector, having recently retired as a Partner at Capital Group Companies after a 37-year career [2] - Wendt expressed enthusiasm about joining DraftKings at a pivotal time, highlighting the company's innovative approach to fan engagement and sustainable growth [3] Company Overview - DraftKings Inc. is a digital sports entertainment and gaming company, founded in 2012, with a mission to create engaging real-money games and betting experiences [4] - The company operates in 28 states, Washington, D.C., and Ontario, Canada, offering mobile and retail sports betting, iGaming, and daily fantasy sports [4] - DraftKings is an official partner of major sports leagues, including the NFL, NHL, PGA TOUR, WNBA, UFC, NBA, and MLB, and also owns Jackpocket, a leading digital lottery courier app in the U.S. [4]

Group 1 - DraftKings Inc. will release its third quarter 2025 results after market close on November 6, 2025 [1] - A conference call and audio webcast will be held on November 7, 2025, at 8:30 a.m. ET to discuss the results and business performance [2] - The audio webcast will be available on the investor relations website until December 31, 2025 [2] Group 2 - DraftKings is a digital sports entertainment and gaming company founded in 2012, headquartered in Boston [3] - The company offers products in daily fantasy, regulated gaming, and digital media, operating in 28 states, Washington, D.C., and Ontario, Canada for sports betting [3] - DraftKings also operates iGaming in five states and Ontario, and owns Jackpocket, a leading digital lottery courier app in the U.S. [3] - The company is an official partner of major sports leagues including the NFL, NHL, PGA TOUR, WNBA, UFC, NBA, and MLB [3] - DraftKings is committed to responsible gaming and provides educational resources for players [3]

Core Insights - DraftKings has announced the acquisition of Railbird Technologies Inc. and its subsidiary, Railbird Exchange, to enhance its capabilities in prediction markets and regulated event contracts [1][2] - The acquisition is expected to provide DraftKings with proprietary technology and a skilled team, positioning the company for future growth and product differentiation in the prediction market space [1][3] Company Strategy - The acquisition aligns with DraftKings' broader strategy to enter prediction markets, expanding its addressable market and enhancing its product offerings [1][2] - DraftKings plans to launch a new mobile application, DraftKings Predictions, which will allow users to trade regulated event contracts across various sectors, including finance, culture, and entertainment [2][3] Market Position - The CEO of DraftKings expressed confidence that the combination of Railbird's platform and DraftKings' established brand and expertise will create significant opportunities in the prediction market [2][3] - The new mobile application is expected to debut in the coming months, further solidifying DraftKings' position in the digital sports entertainment and gaming industry [3]

Core Points - DraftKings Inc. is collaborating with The Larry Fitzgerald Foundation for the Pink 'Em campaign, aiming to raise $100,000 for breast cancer awareness this October [1][2] - The Pink 'Em campaign has raised over $600,000 since its inception seven years ago, utilizing free-to-play pick 'em pools during NFL games [1][2] - The campaign will run from Weeks 5 to 8 of the NFL season, with DraftKings donating $1 per entry for the first 20,000 free entries each week to support breast cancer health services [2][3] Company Overview - DraftKings Inc. is a digital sports entertainment and gaming company founded in 2012, headquartered in Boston, offering products in daily fantasy, regulated gaming, and digital media [4] - The company operates in 28 states and Washington, D.C., with mobile and retail sports betting, and has iGaming operations in five states and Ontario, Canada [4] - DraftKings is an official partner of major sports leagues including the NFL, NHL, PGA TOUR, WNBA, UFC, NBA, and MLB, and also owns Jackpocket, a leading digital lottery courier app [4]

Core Insights - DraftKings Inc. has entered into a multi-year advertising agreement with NBCUniversal, enhancing its presence in sports broadcasting through exclusive integrations and digital sponsorships across NBCUniversal's sports properties [1][2] - The deal includes major sports events such as the Super Bowl LX, NBA All-Star Weekend, and the 2026 FIFA Men's World Cup, providing DraftKings with access to a vast audience of sports fans [2][3] - This partnership aims to enhance the customer experience by integrating DraftKings' live betting capabilities with NBCUniversal's extensive sports content, thereby transforming viewer engagement [2][3] Company Overview - DraftKings is a digital sports entertainment and gaming company that offers products in daily fantasy, regulated gaming, and digital media, headquartered in Boston and launched in 2012 [4] - The company operates sports betting in 28 states and Ontario, Canada, and has a presence in iGaming and daily fantasy sports across multiple jurisdictions [4] - DraftKings is recognized as an official partner of major sports leagues, including the NFL, NHL, and NBA, and operates the DraftKings Network, a multi-platform content ecosystem [4]

Core Insights - DraftKings Inc. is launching a monthlong campaign for Responsible Gaming Education Month (RGEM) to promote responsible gaming through a sweepstakes offering NFL tickets and a trip to Super Bowl LX [1][2] - The campaign encourages customer engagement with responsible gaming tools like My Budget Builder and My Stat Sheet, aiming to foster a more informed gaming culture [2][4] Group 1: Campaign Details - The sweepstakes will run from August 26 to September 8, allowing customers to win NFL regular season tickets by using My Budget Builder [2] - Each week will introduce new responsible gaming engagement methods, with additional ticket giveaways and a grand prize trip to Super Bowl LX for using My Stat Sheet [2][3] Group 2: Tool Highlights - My Budget Builder, launched in June 2025, builds on the success of My Stat Sheet, which has been utilized by approximately 3.4 million customers to track their gaming activity [3] - DraftKings emphasizes the integration of responsible gaming tools throughout the customer journey, reinforcing its commitment to responsible play [4] Group 3: Company Commitment - DraftKings is dedicated to providing a fun and responsible gaming experience, sharing a new Code of Responsible Play with customers to promote responsible behavior [4] - The company aims to maintain responsible gaming as a core aspect of its product design and long-term strategy as it continues to grow [4][6]

Core Insights - DraftKings Inc. has received a direct mobile sports betting license from the Missouri Gaming Commission, allowing the company to operate independently in Missouri without needing to affiliate with a land-based casino or professional sports team [1][2] - The online sportsbook is expected to launch on December 1, 2025, pending final regulatory approvals, making Missouri the 29th U.S. state where DraftKings offers regulated sports betting [2] Company Operations - DraftKings aims to enhance the sports experience for fans in Missouri, which has a strong presence of professional teams and passionate fanbases [2] - The company operates regulated sports betting in 28 states, Washington D.C., and Ontario, Canada, and has a proven track record in regulated markets [4][7] Responsible Gaming Initiatives - DraftKings is committed to providing a responsible gaming environment, offering tools such as My Stat Sheet and My Budget Builder to help customers monitor their gaming activity and set limits [3][7] - The company supports communities through its S.E.R.V.E.S. program, which includes charitable donations, such as a contribution to the St. Louis Tornado Response Fund [5] Company Background - DraftKings was founded in 2012 and is headquartered in Boston, offering a range of products including daily fantasy sports, regulated gaming, and digital media [7] - The company is an official partner of major sports leagues, including the NFL, NHL, and NBA, and operates under its DraftKings brand as well as the Golden Nugget Online Gaming brand [7]