DraftKings further increases full-year guidance after Q2 growth
DraftKings has increased its full-year revenue and earnings guidance after reporting growth during both its second quarter and first half.
The operator put Q2 success down to continued customer retention and engagement, as well as the acquisition of new players. DraftKings also highlighted an expanded parlay offering and improved promotional intensity.
This led to a year-on-year rise in revenue and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA). DraftKings was also able to reduce net loss.
Based on these figures, the operator was confident in increasing FY guidance for the third consecutive quarter. DraftKings already raised FY expectations in both the first quarter of 2023 and final quarter of last year.
DraftKings also took into account anticipated launches in new markets when increasing its FY guidance. The operator expects to go live in Kentucky in September and Puerto Rico before the end of the year, with these launches set to further improve f..
