DraftKings released its second quarter earnings report for this year on Friday morning and the results indicate, as expected, the interest in sports betting is not going to fade anytime soon.
CEO Jason Robins and CFO Jason Park reported a second quarter revenue of $298 million for DraftKings, as well as 1.1 million monthly unique paying customers. They also announced the company plans to expand into the world of NFTs.
“DraftKings had a particularly strong second quarter of 2021, maintaining our impressive financial performance while also advancing into new areas, such as media and NFTs,” Robins said. “We believe these expansion opportunities will enable us to further grow our customer base and generate additional revenues through cross-selling to our existing players. We also are excited that the migration to our proprietary in-house online sports betting technology is substantially complete, with only one state remaining pending approval.”
“We delivered strong growth in new customers and revenue,” Park added. “Our $298 million in second quarter revenue represents a 297% increase year-over-year. Additionally, we grew Monthly Unique Payers by 281% and Average Revenue Per Monthly Unique Payer by 26%. We are again raising our revenue outlook for 2021 as we continue to expect robust growth in the states where we are currently live today.”
DraftKings sportsbooks are live in 12 states, including New Jersey, Pennsylvania, Virginia, West Virginia, Illinois, Iowa, Michigan, Colorado, Tennessee, New Hampshire, Mississippi, and New York.
Lucy is a sports betting content producer with Audacy and BetQL. She has worked with WEEI and Audacy as a writer, radio producer and podcaster. Lucy lives in Boston and loves Tom Brady and prop bets. Follow Lucy on Twitter at @LucilleBurdge.