FanDuel appoints new Senior Vice President of Public Affairs and new Head of Federal Affairswho together have decades of government policy experienceNEW YORK, July 7, 2025 /PRNewswire/ -- Today, FanDuel Group, the premier online gaming company in North America, announced that Shailagh Murray has been appointed Senior Vice President of Public Affairs and Jonathan Nabavi has been appointed Vice President of Federal Affairs. Murray and Nabavi will bring their extensive experience to FanDuel as the company lead ...

Core Insights - DraftKings Inc. is shifting from a high-growth model to a disciplined, cash-generating business, with 2025 expected to be a pivotal year for the company [1] - The company has reaffirmed its free cash flow target of $750 million, indicating improvements in core business fundamentals such as margin expansion and promotional efficiency [1][5] - Despite short-term volatility from sports outcomes, DraftKings is leveraging strong operational capabilities to pursue long-term cash generation [1] Financial Performance - In Q1 2025, DraftKings reported $103 million in adjusted EBITDA, a significant increase from $22.4 million in the same period last year, despite a $170 million revenue hit from unfavorable sports outcomes [2] - Management anticipates a substantial increase in EBITDA for Q2, projecting it to exceed $200 million, driven by sportsbook handle [2] - The structural sportsbook hold is expected to rise from 10.4% in Q1, contributing to improved net revenue margins in the range of 7-7.5% [3] Margin and Revenue Expectations - DraftKings expects to generate an additional $50 million in revenues and $37 million in EBITDA in 2025 through optimized promotional spending and improved margins [3] - The company forecasts an adjusted gross margin of 46% in 2025, reflecting an increase of over 300 basis points year-over-year [3] Regulatory Environment - The operating environment remains challenging due to regulatory issues, including Maryland's tax hike on sports betting and Jackpocket's exit from digital lottery operations, which together are expected to impact revenues by $30 million and EBITDA by $26 million [4] Capital Discipline - DraftKings is maintaining strong capital discipline, with an expected $100 million gap between adjusted EBITDA and free cash flow, supported by low capital expenditures and controlled working capital [5] - The company has $1.1 billion in cash on its balance sheet, positioning it well to meet its 2025 free cash flow target [5] Stock Performance and Valuation - DraftKings shares have increased by 24% over the past three months, compared to the industry's growth of 40.5% [6] - The stock is currently trading at a forward 12-month price-to-sales multiple of 5.31X, significantly higher than the industry average of 3.66X [7] Earnings Estimates - The Zacks Consensus Estimate for DraftKings' 2025 earnings per share has been revised upward from $1.40 to $1.46, indicating strong analyst confidence in the stock's near-term prospects [8] - Projections suggest a 239.1% rise in earnings for DraftKings in 2025, while competitors like Accel Entertainment and Boyd Gaming are expected to see declines [10]

Players can use this new tool to help them manage their play across DraftKings products, reflecting the ongoing efforts of DraftKings to promote Responsible GamingBOSTON, June 30, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (NASDAQ: DKNG) today announced the launch of My Budget Builder, a new Responsible Gaming (RG) tool that players can use to set customized limits and reminders through a guided, easy-to-use experience. My Budget Builder is a tool that players can use to help manage their entertainment budget ...

Application highlights transformative vision for Empire CityYONKERS, N.Y., June 26, 2025 /PRNewswire/ -- MGM Yonkers Inc., a subsidiary of MGM Resorts International (NYSE: MGM), today submitted its commercial casino license application to the New York Gaming Commission and the Gaming Facility Location Board, with a $2.3 billion proposal to transform its historic Empire City Casino site into a commercial casino and entertainment destination. The development plans have been thoughtfully curated to achieve the ...

Core Viewpoint - DraftKings Inc. will implement a 50-cent transaction fee on all mobile and online bets placed in Illinois starting September 1, 2025, in response to recent tax increases on sports wagering by the Illinois state legislature [1][2]. Company Overview - DraftKings Inc. is a digital sports entertainment and gaming company founded in 2012, headquartered in Boston, and operates as the only U.S.-based vertically integrated sports betting operator [3]. - The company offers a range of products including daily fantasy sports, regulated gaming, and digital media, and is operational in 28 states, Washington, D.C., and Ontario, Canada [3]. - DraftKings is committed to responsible gaming and has partnerships with major sports leagues such as the NFL, NHL, PGA TOUR, WNBA, UFC, NBA, and MLB [3]. Industry Context - The Illinois state legislature has more than tripled the tax rate on sports wagering over the past two years, raising concerns about the impact on the legal, regulated industry and potentially fueling the illegal gaming market [2]. - DraftKings emphasizes the importance of collaborative policymaking to ensure the long-term sustainability of the sports betting industry in Illinois [2].

Core Insights - The company reported a solid start to 2025 with double-digit adjusted EBITDA growth across all activities, indicating strong operational performance and alignment with 2025 guidance targets [2][10][31] Financial Highlights - Revenue increased by 7.8% to €1,084 million, with adjusted EBITDA rising by 16.5% to €191 million, resulting in an EBITDA margin improvement of 120 basis points to 17.6% compared to Q1 2024 [8][15][56] - Adjusted net income grew by 10.5% to €81 million, while net income reached €36 million, a significant increase from €19 million in Q1 2024 [8][15][60] - Adjusted free cash flow conversion was approximately 79%, slightly down from 81% in Q1 2024 [8][61] Business Highlights - Content production and distribution revenue grew by 4.7% at constant exchange rates, driven by strong scripted deliveries and performance of superbrands [8][32][41] - Live experiences revenue decreased by 10.8% due to seasonality, with major show deliveries expected in the second half of 2025 [8][50][33] - Online sports betting and gaming revenue surged by 18.2%, with a 33% increase in Unique Active Players, supported by a robust sportsbook app and successful poker platform launch [8][12][53] Strategic Developments - The company announced a strategic alliance with Base and AWS to enhance its digital transformation and operational efficiency [18] - The merger of Shine Fiction and Banijay Studios France aims to strengthen the scripted content offering in France [19] - The acquisition of Lotchi and the launch of Banijay Live Studio are key initiatives to expand immersive live experiences [20][21] Market Outlook - The company anticipates mid-single digit organic revenue growth in content production and distribution, mid-teens growth in online sports betting and gaming, and mid-to-high single digit organic adjusted EBITDA growth for 2025 [35][36] - The impact of increased public levies on online gaming in France is expected to affect profitability, with an estimated €20 million reduction in adjusted EBITDA for 2025 [26][27]

Core Viewpoint - DraftKings' stock price has rebounded from a 9-month low, with expectations of reaching multi-year highs by the end of 2025 due to strong business performance, leverage building, and a healthy balance sheet [1] Financial Performance - DraftKings reported a 19.5% revenue growth in Q1, totaling $1.41 billion, driven by user engagement, new users, and acquisitions like Jackpocket [5] - Monthly unique players (MUP) increased by 28%, with a 20.1% rise in Sportsbook revenue, 14.5% in iGaming, and 45.7% in Other segments [5] - Adjusted earnings were $0.12, maintaining financial health despite a slight revenue miss compared to consensus [7] Market Opportunities - The acquisition of Jackpocket presents both challenges and opportunities, as it initially lowers revenue per user but offers potential for margin improvement over time [3] - The expected entry into Missouri and the growth potential of iGaming, which currently serves only 11% of the U.S. population, are significant growth drivers [4] Stock Forecast and Analyst Ratings - The 12-month stock price forecast for DraftKings is $55.04, indicating a 45.10% upside, with a Moderate Buy rating based on 28 analyst ratings [6] - Analysts have mixed responses, with some adjusting price targets, but the average target remains above current levels, suggesting potential for future gains [10][11] Trading Dynamics - The stock is showing bullish momentum, with critical resistance near $38.25, and could potentially retest all-time highs by late summer or early fall [12]

Q1 2025 EARNINGS PRESENTATION May 8, 2025 | 1 Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about DraftKings Inc. ("DraftKings", the "Company", "we", "us" and "our") and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, cont ...

Core Insights - DraftKings reported first-quarter revenue of $1.41 billion, a 20% increase year-over-year, but fell short of the consensus estimate of $1.44 billion [1] - The company reported earnings per share of 12 cents, missing the consensus estimate of 22 cents per share [1] Revenue Growth Drivers - Revenue growth was attributed to strong customer engagement, new customer acquisition, a higher structural sportsbook hold percentage, and the impact of the Jackpocket acquisition [2] - Monthly Unique Payers (MUPs) increased by 28% to 4.3 million, driven by strong retention and acquisition, as well as the Jackpocket acquisition [2] - Excluding the Jackpocket acquisition, MUPs would have increased by 11% year-over-year [2] Average Revenue Metrics - Average revenue per MUP was $108, down 5% year-over-year, primarily due to the inclusion of Jackpocket customers [3] - Without the Jackpocket acquisition, average revenue per MUP would have increased by 7% year-over-year [3] Market Presence - DraftKings operates mobile sports betting in 25 states and Washington D.C., with iGaming available in five states [4] - The company is also active in Ontario, Canada, covering 40% of the country's population [4] Future Guidance - DraftKings plans to launch its sportsbook in Missouri pending approvals, with the state legalizing sports betting in November 2024 [5] - The company revised its full-year revenue guidance down to a range of $6.2 billion to $6.4 billion from a previous range of $6.3 billion to $6.6 billion [5] - Full-year adjusted EBITDA guidance was also lowered to a range of $800 million to $900 million from $900 million to $1.0 billion [6] Stock Performance - DraftKings stock rose by 3.9% to $36.74 in after-hours trading, within a 52-week trading range of $28.69 to $53.61 [7]

Core Insights - DraftKings reported first quarter 2025 revenue of $1,409 million, a 20% increase from $1,175 million in the same period of 2024, driven by strong customer engagement and the acquisition of Jackpocket Inc. [2][3][35] - Monthly Unique Payers (MUPs) rose to 4.3 million, reflecting a 28% increase year-over-year, with a 5% decrease in Average Revenue per MUP (ARPMUP) to $108, primarily due to the impact of Jackpocket customers [7][14][15] - The company revised its fiscal year 2025 revenue guidance to a range of $6.2 billion to $6.4 billion, down from a previous range of $6.3 billion to $6.6 billion, indicating approximately 32% year-over-year growth [5][7][10] Financial Performance - DraftKings' net loss for the first quarter of 2025 was $33.9 million, an improvement from a loss of $142.6 million in the same quarter of 2024 [14][15] - Adjusted EBITDA for the first quarter of 2025 was $102.6 million, significantly up from $22.4 million in the prior year [15][26] - The company repurchased 3.7 million shares in the first quarter under its stock repurchase program, indicating a commitment to returning value to shareholders [3][35] Market Position and Growth - DraftKings operates mobile sports betting in 25 states and Washington, D.C., covering approximately 49% of the U.S. population, and iGaming in 5 states, representing about 11% of the U.S. population [7][35] - The acquisition of Jackpocket is expected to enhance customer retention and acquisition across DraftKings' offerings [2][7] - The company is preparing to launch its Sportsbook product in Missouri, pending regulatory approvals, following the legalization of sports betting in the state [7][35]