DraftKings has announced that after two years, it will be shutting down its Wrigley Field retail sportsbook in Chicago on May 31, 2026.DraftKings had opened the venue...
DraftKings hits 1.4B in Q1 revenue with 20% growth
An American gambling company offering sportsbooks and daily fantasy sports services, DraftKings, announced its Q1 results, highlighting the increase in revenues by 20%.
DraftKings’ strong debut in 2025 is mainly driven by its recent acquisition of Jackpocket, the lottery courier app. Despite regulatory challenges, the app has remained a significant revenue driver for the company.
However, the company also noted that Q1 2025 is not only about positive outcomes. While the number of monthly unique players (MUPs) jumped 28% to 4.3 million, average revenue per player dropped 5% to $108, partly due to Jackpocket’s more budget-conscious user base. Without Jackpocket in the mix, average spend per player was up 7%, showing the core business is on solid footing.
Full-year guidance gets lowered
DraftKings lowered its full-year guidance slightly, now targeting $6.2 to $6.4 billion in revenue and $800 million to $900 million in adjusted EBITDA, down from its earlier, more optimistic forecast. As CEO Jason Robins said, the revision mainly reflects customer-friendly outcomes in sports betting, which took a bit of the shine off their Q1 profits.
Despite these adjustments, DraftKings remains optimistic about its growth, including the still-developing prediction market sector. After previously announcing a step back from the prediction market, DraftKings’ CEO now finds a big growth potential in the market, with customers betting on everything from sports to political elections.
DraftKings has expanded its prediction platform offering by adding a new sports contract bundle feature in the DraftKings Predicts app and revising the fee structure for...
