DraftKings was founded in 2012 as a company offering daily fantasy sports competitions and sports betting in America. You can be sure that there will be plenty of exciting moments on your screen with a choice of almost 800 casino games (including slots, baccarat, live dealer games, blackjack, poker, and roulette) from numerous well-known companies, including many exciting exclusive games.
DraftKings Reports $502 Million in Revenue for Q3 ’22
It’s pretty fair to say that DraftKings is one of the top online casino and sportsbook operators in the U.S. Their success can be attributed to the excellent quality of games, various sports licenses, and their commitment to providing players with the best possible gaming experience. The company keeps on growing. DraftKings keeps expanding the reach of its mobile sports betting app throughout NA.
DraftKings’ Financial Figures for Q3 2022
The financial figures for DraftKings’ third quarter of 2022 have been released. The operator stated that while generating top-line growth in Q3, it remained dedicated to profitability throughout the quarter.
The third quarter’s total revenue increased by 136% YOY to $502m. Though this was the second straight quarter that the company’s losses were reduced, the net loss for Q3 was still close to $450 million.
According to the company’s report, it beat and improved upon its adjusted EBITDA and FY2022 goals and anticipates favorable results for the following year.
According to the CEO of DraftKings, Jason Robins, the company had a fantastic third quarter. Through very effective client engagement, alluring products, technological breakthroughs, and top-line development, the team persisted in following its path to profitability.
The business achieved the ideal mix between generating operating efficiency and differentiating top-line growth throughout 2022. Based on the information it has about anticipated state launches, the business is optimistic that it will generate positive adjusted EBITDA in the Q4 of 2023.
DraftKings Mobile Sportsbook Expansion
In addition to finishing the third quarter with a solid financial base, DraftKings advanced in the world of digital sports. With its mobile sports betting offerings, the operator has expanded its online presence to 18 US states, and five of those states have iGaming in operation.
One of the best states for online gaming continues to be New Jersey. Ever since in-state online gambling was allowed in 2013, NJ saw a myriad of new excellent online gaming operators entering the state. DraftKings plays a big role in this booming and flourishing market. You can find all the newest NJ online casinos listed at iGaming NJ, a website that provides its readers with the latest news about the gaming industry, articles, the latest bonuses, guides, and much more.
After a successful launch in the Canadian state of Ontario earlier in the quarter, DraftKings expanded into Kansas during the month of September.
In the third quarter the company, according to Robins, concentrated on making mobile sportsbooks accessible throughout the NFL season.
For the NFL season, Robins added, the company invested in its mobile sportsbook product, providing a distinctive and enjoyable client experience. As an operator with a wide national scale, the company also enjoyed certain marketing optimization advantages.