DraftKings has reported Q4 and full-year financial results showing revenue of $322m, an increase of 146 per cent compared to $131m during the same period in 2019.
After giving pro forma effect to the business combination with SBTech and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue grew 98 per cent compared to the three months ended December 31, 2019.
“With a favourable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to $322mi in fourth quarter revenue, a 98 per cent year-over-year increase,” said Jason Robins, DraftKings’ co-founder, CEO and chairman of the board.
“In the fourth quarter of 2020, we saw MUPs increase 44 per cent to 1.5 million and ARPMUP increase 55per cent to $65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance.”
