DraftKings Inc. (Nasdaq: DKNG) Reports Stellar Fourth-Quarter Earnings

Record Revenue and Adjusted EBITDA Drive Growth for Leading Sportsbook and Gaming Company

Key Highlights:

• Revenue surged 81% year-over-year to a record $855 million
• Adjusted EBITDA of $139 million, a remarkable 131% increase from Q4 2022
• Monthly Unique Payers (MUPs) grew 31% to 2.6 million, demonstrating strong user engagement

DraftKings Inc. (Nasdaq: DKNG), a prominent sportsbook and gaming operator, recently unveiled its exceptional financial performance for the fourth quarter of 2023.

The company reported an impressive 81% year-over-year revenue growth, reaching a record $855 million. This remarkable surge was primarily driven by strong contributions from its sportsbook, iGaming, and other gaming verticals.

DraftKings also achieved significant strides in profitability, with an adjusted EBITDA of $139 million, marking a notable 131% increase from the previous year's fourth quarter. This underscores the company's commitment to long-term financial sustainability.

The company's customer base continued to expand, with Monthly Unique Payers (MUPs) rising by 31% to reach 2.6 million. This growth reflects the increasing popularity of DraftKings' diverse gaming offerings, including sports betting, online casino games, and daily fantasy sports.

Jason Robins, Co-Founder, Chairman, and CEO of DraftKings, expressed optimism about the company's future prospects: "We are thrilled with our record-breaking fourth-quarter results, which underscore the continued strength of our business. Our unwavering focus on innovation, customer engagement, and responsible gaming positions us well for further growth in the rapidly evolving gaming landscape."

DraftKings financials were well-received by the market, with shares responding positively to the news. The company's strong performance consolidates its position as a leading player in the global sports betting and gaming sector.

As the industry continues to evolve, DraftKings remains committed to providing its customers with a safe, regulated, and entertaining gaming experience. The company's ongoing investments in technology, product development, and customer service will likely drive further growth and success in the years to come.

Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.

Sources:

• DraftKings Announces Fourth Quarter and Full Year 2023 Financial Results
• DraftKings Official Website