DraftKings reports US$1.4 billion in revenue for fourth quarter
Sports betting and fantasy sports platform DraftKings has reported that fourth-quarter revenue reached US$1.4 billion.
The fourth-quarter revenue is 13% higher than the same period the previous year, driven largely by continued customer engagement and the acquisition of new customers, with monthly unique players increasing to 4.8 million on average. That was an increase of 36% compared to the fourth quarter of 2023.
A significant portion of this was driven by the May acquisition of online lottery app Jackpocket Inc.. After removing monthly unique players from Jackpocket, monthly unique players increased by 16% compared to fourth quarter 2023.
“We continued to efficiently acquire and engage customers, expand structural sportsbook hold percentage and optimize promotional reinvestment in fiscal year 2024, while we simultaneously experienced customer-friendly sport outcomes,” Jason Robins, DraftKings’ CEO and Co-Founder, said in a statement. “Looking ahead to 2025 and beyond, I am excited to further enhance our customer economics through new initiatives such as extending our lead in live betting and advancing cross sell efforts to and from new verticals. Our focus remains on driving sustainable growth in revenue and profitability.”
Average revenue per monthly unique player fell 16% to US$97 in the fourth quarter compared to the same period in 2023, partly because customers at Jackpocket produce a lower average revenue per monthly unique player than other DraftKings platforms. Removing Jackpocket from this sees average revenue per monthly unique player drop by 4%.
DraftKings Sportsbook saw a lower hold because there were many customer friendly outcomes during the period.
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