DRAFTKINGS grows 34% with revenues of €394 million in the first quarter of 2022

 n the report published by DraftKings, we highlight:

• Revenue for the Company's B2C segment grew to $404 million, an increase of 44% compared to the three months ended March 31, 2021.
• Adjusted EBITDA outperformed the midpoint of the guidance for the first quarter of 2022 previously provided by DraftKings during its fourth quarter earnings conference call on February 18, 2022 by more than 12%.
• Following the Company's successful launches in New York and Louisiana, DraftKings is now live with mobile sports betting in 17 states that collectively represent approximately 36% of the U.S. population.
• DraftKings is also live with iGaming in 5 states, representing approximately 11% of the U.S. population.

Jason Robins, Co-Founder, CEO and Chairman of the Board of DraftKings, said: “We are not seeing any impact from inflationary pressures on customer demand, and we continue to improve the user experience by adding breadth and depth to our DFS, mobile sports betting and iGaming products. We are also improving our efficiency in acquiring and retaining customers and have a strong pipeline of new jurisdictions to enter”.

Along the same lines, Jason Park, chief financial officer of DraftKings, stressed that this great growth allows them to increase their expectations “of income for fiscal year 2022 by $50 million and better the midpoint of our adjusted EBITDA guidance for fiscal year 2022. at $75 million.

The company mentions that Monthly Unique Payers (MUP) reached 2 million customers, which represents an increase of 29% compared to the first quarter of 2021. The increase reflects strong retention and acquisition of unique payers in our iGaming and online sports betting products and expansion to new states.

The average income for these users was $67 in the first quarter of 2022, which represents an increase of 11% compared to the same period in 2021.

DraftKings continued to deepen the content offering for DraftKings Sportsbook, which helps drive customer acquisition, engagement and retention, by adding micro markets like wagering on the “next field goal” for the NBA and college basketball.

The Company also introduced several player markets to the DraftKings Sportsbook's college basketball "Same Game Parlay" offering, including points scored, assists, rebounds, and three pointers made, as well as combinations of these markets.

Additionally, and as we recently posted, ahead of the NCAA College Basketball Tournament in March, DraftKings Marketplace introduced the Primetime NFT series, which was designed to deepen engagement with DraftKings during this iconic sporting moment.

For Daily Fantasy Sports, DraftKings added additional leagues to its portfolio of contest offerings, including the international auto racing league Formula 1 and the new USFL.

DraftKings Social launched betting groups, so its users can create a group and distribute a link for others to join. All actions of the members who elected to share their bets will be dropped into the group in real time, notifying group members with a link directly to that new bet.

In January, DraftKings announced the one-of-a-kind State Council Funding Program, which is a more than $1.5 million multi-year financial commitment to assist the 35 state problem gambling councils. As part of the initiative, state councils may receive $15,000 per year for three years to spend on responsible gaming services and programs to address the most pressing needs within their organizations.

In April, DraftKings published its second sustainability report providing information on the company's commitment to environmental and social initiatives such as:

• Finance the planting of 1 million trees in coordination with the Arbor Day Foundation. The tree plantings in the U.S. alone are estimated to contribute to more than 667,000 metric tons of carbon avoided and sequestered, 2,800 tons of air pollution avoided and removed, and 699 million gallons of runoff avoided.
• The Company's further investment in evidence-based research for responsible gaming, including the funding of the International Center for Responsible Gaming's inaugural research on sports betting in the U.S. and the Kindbridge Research Institute's study of military veterans impacted by problem gaming.

See presentation with first quarter results