DraftKings has reduced its net loss for the first quarter of 2024 after seeing revenue increase by 53 per cent to $1.18 billion.
The strong revenue growth as driven by the expansion of the company’s sportsbook product into new jurisdictions, higher structural sportsbook hold percentage, and improved promotional reinvestment for sportsbook and iGaming.
Average monthly unique payers (MUPs) increased by 23 per cent year-on-year to 3.4 million during Q1, with average revenue per MUP climbing 25 per [...]