DraftKings, a number one sports activities betting operator with a rising presence within the US regulated playing market, has launched its newest buying and selling replace, outlining particulars relating to its first quarter 2023 outcomes. Judging by latest unaudited numbers, the corporate is off to a vivid begin. Income will develop exponentially year-over-year by 2023.
DraftKings reached $770 million in income within the first quarter of this yr. This outcome represented a rise of 84% in comparison with the Q1 2022 results of $417 million. There have been a number of components that contributed to the constructive outcomes, together with increased maintain charges because of product innovation and decrease promotions in sure states.
Environment friendly acquisition of recent clients and retention of current clients was an important issue that positively impacted the primary quarter outcomes. The corporate’s latest buying and selling replace revealed that within the first quarter of 2023, month-to-month distinctive gamers (MUPs) elevated to his 2.8 million. This outcome marked a big enhance of 39% in comparison with his 2022 in the identical interval final yr.
Along with MUP progress, DraftKings confirmed that common income per MUP elevated within the first quarter of this yr. General, his common income per MUP in Q1 2023 reached $92, up 35% in comparison with Q1 final yr. DraftKings explains:
Firm stays dedicated to additional progress
DraftKings continued to broaden its US presence all through the primary quarter of this yr. In March, the corporate launched an internet sportsbook product for purchasers in Massachusetts. This launch enhances its progress, and to this point DraftKings is current in 21 US states and gives cellular sports activities betting companies. Along with sports activities betting, the corporate is energetic within the iGaming markets of his 5 states, offering main companies.
“DraftKings’ first quarter outcomes – 84% year-over-year income progress and share features underpinned by a relentless concentrate on operational effectivity – present that the corporate is properly positioned for sustained success. enhance.“
DraftKings CEO and co-founder Jason Robins mentioned:
DraftKings CEO and co-founder Jason Robins acknowledged that the income progress reported within the first quarter of this yr was the results of the corporate’s crew’s efforts mixed with operational effectivity. He defined that the outcome reaffirms that the corporate is well-positioned for future success. Lastly, Robins predicted that DraftKings will proceed to develop and supply long-term worth to shareholders.
