DraftKings’ revenue rises 20% year-over-year in first quarter

Rege Behe

8 May 2025 at 4:55pm UTC-4

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DraftKings on Thursday reported first-quarter revenue of $1.409 billion, an increase of US$234 million, or 20%, compared to US$1.175 billion during the same period in 2024.

According to a release, the increase was attributable to “continued healthy customer engagement, efficient acquisition of new customers, higher structural sportsbook hold percentage, and the effect of the acquisition of Jackpocket, which closed on May 22, partially offset by customer-friendly sport outcomes.

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“Recent product enhancements are driving outperformance in our core value drivers, and our customer metrics continue to be strong through an evolving macroeconomic environment,” DraftKings’ CEO and Co-Founder Jason Robins said in a statement. “If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance.”

DraftKings’ monthly unique payers increased to 4.3 million average in the first quarter, up 28% compared to the first quarter of 2024. Excluding the effect of the acquisition of Jackpocket, monthly unique payer increased by about 11% compared to the first quarter of 2024.

Average revenue per monthly unique payers was US$108 in the first quarter, down 5% decrease compared to the same period in 2024. The decrease was primarily because of lower average revenue per monthly unique payers for Jackpocket customers, when compared to customers of DraftKings’ existing product offerings prior to the acquisition.

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Excluding the effect of the acquisition of Jackpocket, average revenue per monthly unique payers increased about 7% compared to the first quarter of 2024.

DraftKings said it is revising its fiscal year 2025 revenue guidance from US$6.2 billion to US$6.4 billion, a decrease from its previous guidance of US$6.3 billion to US$6.6 billion announced on February 13. The fiscal year 2025 revenue guidance equates to about 32% year-over-year growth based on the company’s fiscal year 2024 revenue and the midpoint of the company’s fiscal year 2025 revenue guidance range.

DraftKings revised its fiscal year Adjusted EBITDA guidance from US$800 million to US$900 million, compared to its previous guidance of US$900 million to US$1 billion announced on February 13.

Guidance for fiscal year 2025 includes all of existing jurisdictions and does not include the effect of mobile sports betting launching in Missouri.

DraftKings is live with mobile sports betting in 25 US states and Washington, D.C., which collectively represent about 49% of the US population. DraftKings is also live with igaming in five US states, representing about 11% of the US population.

DraftKings also is live with its sportsbook and igaming products in Ontario, Canada, which represents about 40% of Canada’s population.

DraftKings’ stock closed at US$35.35 on the Nasdaq, up US68 cents or 1.9%.