DraftKings Revenues Grew 49% in 2020

DraftKings has published its fourth-quarter financial results for 2020, noting that revenues grew during the period.

Key financial indicators for the year ending December 31st, 2020 were:

  • Full-year revenues up 49% when compared to the same period last year
  • Revenues for the fourth-quarter ending December 31st were up 146.1% to $322.2 million
  • A posted net loss of $268.3 million, due largely to increases in marketing spend of $192 million and cost of revenue up 142.9% to $159.3 million

Commenting on the results DraftKings CEO Jason Robins said, "In the fourth quarter of 2020, we saw [Monthly Unique Players (MUPs)] increase 43.9% to 1.5m and [average revenue per monthly unique player (ARPMUP)] increase 54.8% to $65."

The company has been spending money to acquire partnerships and sponsorships in order to broaden exposure in new markets like Pennsylvania and Michigan. These costs have paid off though, as sportsbetting revenues in these markets have made DraftKings one of the largest operators

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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lvblck
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28 February 2021 - 4:19pm
#1

Those are some serious numbers for growth! It's clear that betting and gambling is growing in the US and they're one of the major players.

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