DraftKings has announced results for the third quarter of 2024. For the three months ended September 30, 2024, DraftKings reported revenue of $1,095 million, an increase of $306 million, or 39%, compared to $790 million during the same period in 2023.

The increase in the Company’s third quarter 2024 revenue was driven primarily by continued healthy customer engagement, efficient acquisition of new customers, the expansion of the Company’s Sportsbook product offering into new jurisdictions, higher structural sportsbook hold percentage, improved promotional reinvestment for Sportsbook and iGaming, and the impact of the acquisition of Jackpocket Inc. (“Jackpocket”), which closed on May 22, 2024.

“DraftKings delivered strong performance in the third quarter with the return of NFL and college football,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder. “With major sports converging on the calendar, we are well-positioned to build on this momentum as we further enhance our top-ranked sportsbook app with additional live betting features and exciting new NBA markets. Our focus remains on driving sustainable revenue growth and profitability in 2025 and beyond.”

“We achieved healthy results across our core value drivers in the third quarter with efficient customer acquisition and promotional reinvestment as well as improvement in our structural sportsbook hold percentage,” said Alan Ellingson, DraftKings’ Chief Financial Officer. “The midpoint of our inaugural fiscal year 2025 revenue guidance equates to 31% year-over-year growth, and we are well-positioned to deliver $900 million to $1 billion of Adjusted EBITDA in 2025.”