Press Releases
DraftKings Reports Second Quarter Revenue of $466 million; Second Quarter B2C Revenue Increases 68% YOY; Revenue Exceeds Midpoint of Guidance by More Than $30 million and Adjusted EBITDA Outperforms Midpoint of Guidance by Almost 40%
DraftKings Inc. reported its second quarter 2022 financial results.
Second Quarter 2022 Highlights
For the three months ended June 30, 2022, DraftKings reported revenue of $466 million, an increase of 57% compared to $298 million during the same period in 2021. Revenue for the Company’s B2C segment grew to $455 million, an increase of 68% compared to the three months ended June 30, 2021, notwithstanding a less favorable sports calendar in the second quarter of 2022 compared to the second quarter of 2021. Revenue and Adjusted EBITDA outperformed the midpoints of their respective guidance ranges for the second quarter of 2022, which were previously provided by DraftKings during its first quarter earnings call on May 6, 2022 and included contributions from the Company’s acquisition of Golden Nugget Online Gaming, Inc. (“GNOG”) and the Company’s expected launch in Ontario (the “Q2 Guidance”), by more than $30 million and by almost 40%, respectively. Results for the three months ended June 30, 2022 include the operations of GNOG on and after May 5, 2022, which is the date on which the GNOG acquisition was consummated.
“DraftKings had an excellent second quarter, exceeding expectations for revenue and Adjusted EBITDA,” said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board. “Customer engagement remains strong, and we continue to see no perceivable impact from broader macroeconomic pressures. Due to our ongoing investments in core online gaming technologies, we are in a strong position from a competitive perspective as we approach the beginning of the NFL season. We remain well capitalized, ready to enter new markets as they become live, and confident in our ability to compete and win with customers.”
“We executed very well in the second quarter and outperformed the midpoints of the Q2 guidance ranges for revenue and Adjusted EBITDA that we provided on our first quarter earnings call,” added Jason Park, DraftKings’ Chief Financial Officer. “Our B2C segment drove revenue growth due to stronger than anticipated customer activity, while we continued to make progress on identifying and capturing operating efficiencies. As a result, looking forward, we are increasing the midpoint of our fiscal year 2022 revenue guidance by $15 million and improving the midpoint of our fiscal year 2022 Adjusted EBITDA guidance by $60 million.”
Continued Healthy Growth in Player Retention, Acquisition and Engagement
- Monthly Unique Payers (“MUPs”) increased to 1.5 million average monthly unique paying B2C customers, representing an increase of 30% compared to the second quarter of 2021. This increase reflects strong unique payer retention and acquisition across DraftKings’ Sportsbook and iGaming products as well as the expansion of its Sportsbook and iGaming products into new jurisdictions, partially offset by a decline in Daily Fantasy Sports MUPs.
- Average Revenue per MUP (“ARPMUP”) was $103 in the second quarter of 2022, representing a 30% increase compared to the same period in 2021. This increase was primarily due to strong customer engagement, a continued mix shift into DraftKings’ Sportsbook and iGaming products and reduced promotional intensity compared to the same period in 2021.
Raising Midpoint of 2022 Revenue Guidance and Improving 2022 Adjusted EBITDA Guidance
- DraftKings is raising its fiscal year 2022 revenue guidance to a range of $2.08 billion to $2.18 billion from the range of $2.055 billion to $2.175 billion previously announced on the Company’s first quarter earnings call on May 6, 2022, which included contributions from the Company’s acquisition of GNOG and the Company’s expected launch in Ontario (the “Prior FY 2022 Guidance”). This updated 2022 revenue guidance range equates to year-over-year growth of 60% to 68%.
- DraftKings is also improving its fiscal year 2022 Adjusted EBITDA guidance to a loss of between $765 million and $835 million from its Prior FY 2022 Guidance of a loss of between $810 million and $910 million.
- DraftKings’ updated guidance for fiscal year 2022 revenue and Adjusted EBITDA includes all the states and jurisdictions in which it was live as of August 5, 2022.
- Detailed financial data and other information is available in DraftKings’ Quarterly Report on Form 10-Q, which will be filed today with the Securities and Exchange Commission (the “SEC”), as well as in a slide presentation that can be accessed through the “Investors” section of the Company’s website at investors.draftkings.com.
Expanded Mobile Sports Betting and iGaming Footprint
- DraftKings is 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.
- On May 18, 2022, DraftKings launched its Sportsbook and iGaming products in Ontario, Canada.
- Four of the U.S. jurisdictions where DraftKings has the potential opportunity to operate via a market access agreement or direct license – Maryland, Puerto Rico, Ohio, and Kansas – have authorized mobile sports betting. These four jurisdictions represent approximately 8% of the U.S. population and, pending licensure and regulatory approvals, would bring the percentage of the U.S. population where DraftKings expects to offer legalized mobile sports betting to approximately 44%.
- During the second quarter, the California Secretary of State confirmed that the online sports betting initiative that DraftKings supports took another step towards legalization by meeting the signature threshold to qualify for the ballot in November 2022. Tribes, leading homelessness and mental health advocates, and mayors of some of California’s largest cities are publicly supporting this initiative. DraftKings is cautiously optimistic about the ultimate outcome in November and the potential to generate hundreds of millions of dollars to address homelessness, mental health, and addiction in partnership with the state’s Tribes.
- In Massachusetts, the legislature passed a bill that, pending executive action, would legalize retail and online wagering on professional and collegiate sports. Massachusetts represents 2% of the U.S. population.
Product Functionality and Content
- In the second quarter, DraftKings continued to expand the functionality and content offering of its Sportsbook product, which the Company believes will help drive customer acquisition, engagement, and retention. These enhancements include new markets for Major League Baseball, such as wagers based on pitch speeds and pitch counts per plate appearance, and same game parlays for UFC® fights. In addition, the Company’s Sportsbook product has launched several features to strengthen its parlay offering – including parlay insurance, pre-packed same game parlays and the capability to void an individual leg of a same game parlay without voiding the entire parlay. DraftKings also plans to offer a feature that will allow users to combine multiple same game parlays.
- After a decade of innovation in Daily Fantasy Sports, DraftKings is bringing its digital gaming expertise and creativity to Web3 with the upcoming launch of a new game, Reignmakers Football. This next generation, NFT-powered fantasy football game is slated to debut on DraftKings Marketplace for kickoff of the 2022 football season in an effort to position the Company at the growing intersection of gaming and digital collectibles. Reignmakers Football combines fantasy sports with blockchain and techniques such as collecting and upgrading in a way designed to appeal to traditional and new collectors of NFTs, fantasy sports players, and fans of online and tabletop games. In collaboration with the National Football League Players Association, Reignmakers Football will feature tiered Player Card NFTs of real athletes whose on-field performances will score points within weekly lineups similar to Daily Fantasy Sports.
- In June 2022, the UFC® and DraftKings announced plans to launch a new iteration of DraftKings’ Reignmakers gamified digital collectibles franchise focused on UFC®. Reignmakers UFC® will allow fans to build NFT collections of their favorite UFC® fighters and utilize those NFTs in games to compete for prizes. Collectors may receive rewards both leading into and following the game rollout based on the utility of the NFT. Such rewards may include, among other things, entries into special Daily Fantasy Sports contests for cash and custom merchandise. Under DraftKings’ agreement with the UFC®, DraftKings Marketplace will have access to intellectual property from over 500 different athletes on the active UFC® roster from which to choose to create the Reignmakers UFC® collection.
- DraftKings continued to bolster its network of leading influencers and talent and expand its original programming – which is distributed on high reach platforms such as Apple Podcasts, iHeartRadio, Spotify, Twitch and YouTube – by announcing four new shows produced in coordination with Meadowlark Media. Joining the line-up are “Too Many Men” featuring hockey analysts Alison Lukan, Shayna Goldman and Sara Civian, “The Cooligans” with Alexis Guerreros and Christian Polanco, college football-focused “Shutdown Fullcast” hosted by Spencer Hall, Holly Anderson, Jason Kirk, and Ryan Nanni, and “DNF” (Did Not Finish), an F1 program with Jessica Smetana and Spencer Hall.
Environmental, Social and Governance Initiatives
- DraftKings reached its goal of funding the planting of 1 million trees by Earth Day 2022, in collaboration with the Arbor Day Foundation and Gisele Bündchen, the Company’s Special Advisor to the CEO and Board of Directors for ESG initiatives. This tree planting initiative has been a global effort, making an impact across 14 U.S. states and 8 countries, and has supported the health and wellness of the surrounding communities and populations.
- DraftKings continued its commitment to training veterans and military spouses in high tech skills as part of its Tech for Heroes initiative, with the Company planning to train an additional 200 veterans and spouses in 2022. In the second quarter, DraftKings also provided opportunities for its customers to support veterans-focused organizations and programs through charity-focused Daily Fantasy Sports contests and special Sportsbook and iGaming promotions.
- DraftKings and BetBlocker, a leading responsible gaming and safer play not-for-profit charity, announced a collaboration to advance awareness of and access to BetBlocker’s innovative responsible gaming software. BetBlocker will allow DraftKings customers to set restrictions on their gaming activities across all of their devices at no cost to the customers. Such restrictions will apply globally across thousands of gaming sites, whether regulated or not.
- In recognition of DraftKings’ outstanding commitment to social responsibility as it relates to responsible gaming and its promotion and institution of effective responsible gaming practices and culture, the Company’s Responsible Gaming team received three awards at this year’s National Council on Problem Gambling (“NCPG”) conference, including the NCPG Corporate Social Responsibility Program of the Year.
Latest News
EstrelaBet to offer Opta-powered stats markets and premium live football streaming in extensive partnership with Stats Perform
Customers of leading Brazilian gaming tech company, EstrelaBet, are set to enjoy more innovative and entertaining betting experiences for the world’s top football competitions after the operator today announced an extensive partnership with sports data and AI leader Stats Perform.
The multi-year agreement for Stats Perform’s ‘Bet LiveStreams’ content and technology provide EstrelaBet customers the ability to watch and bet on nearly 20,000+ premium men’s and women’s professional football matches a year, across 80 global competitions, providing round-the-clock, year-round exciting betting action.
It includes some the most popular football competitions played globally, featuring some of Brazilian football’s top talent, including Spain’s LaLiga, the English Football League (EFL) and Carabao Cup, multiple Concacaf competitions and internationals, and wide coverage of South American competitions in Argentina, Colombia, Chile, Peru, Ecuador, Bolivia, Mexico, as well as prominent leagues played in Asia.
EstrelaBet will also offer innovative player and team stats betting markets powered by detailed live Opta data, thrilling bettors with every shot, foul, and tackle. Altenar, an accredited Opta for Betting partner, will create and settle unique markets for more than 90 global competitions and 11,000+ games a year – a growing number, due to huge demand from operators and bettors globally. These significant product upgrades solidify EstrelaBet’s leading position within the regulated Brazilian betting market and prime it to achieve its ambitious growth targets.
Fellipe Fraga, CBO (Chief Business Officer) at EstrelaBet, said, “These are two major upgrades for EstrelaBet. Firstly, it’s vital for customer trust for us to build stats betting experiences with the same consistently-collected football data used globally by the biggest professional teams, broadcasters and media, and that is Opta. Secondly, the quality and scale of Stats Perform’s premium live streaming package means our customers can quickly watch lots of the games they’re betting on, which further increases their entertainment and enjoyment from our sportsbook.”
Steve Xeller, Chief Revenue Officer at Stats Perform, added, “Live streaming creates the ultimate trusted and entertaining in-play betting experience, and we’ve built a popular official rights portfolio, especially in football, delivered through award-winning technology. We’ve also invested heavily in expanding the range of competitions covered by our specialist Opta API for sportsbooks. These investments ensure that operators like EstrelaBet, and partners like Altenar, can create personalised, innovative, and engaging sports betting experiences. We look forward to seeing the results they achieve”.
Earlier in 2025, Bet LiveStreams was named Industry Innovation of the Year – South America at SBC Americas, and Live Streaming Supplier of the Year at the EGR Awards – an acknowledgement of the impact Stats Perform’s Bet LiveStreams service has on elevating in-play betting experiences in regulated betting markets.
Stats Perform’s multi-award-winning, trusted Opta data API has also established itself as the gold standard in football statistics for teams, leagues, broadcasters, live scores apps and sportsbooks, providing the critical data for products like same-game multis and player props that have become hugely popular with bettors.
DiffusionData, the pioneer and leader in real-time data streaming, today announced the release of Diffusion 6.12. The latest enhancements have been introduced to speed up development, optimize resource usage, and guarantee consistent, high-performance real-time data delivery.
Grethe Brown, CEO of DiffusionData, said: “As a company, we’ve always been driven by the insights of our community, ensuring our solution directly aligns with client needs. By listening closely to evolving requirements, we’ve introduced enhancements to our framework that addresses real-world developer challenges while boosting operational efficiency. These improvements are designed to accelerate productivity, reduce complexity, and create tangible business value. The ongoing feedback from our customers fuels continuous innovation in Diffusion, enabling our clients to deliver better outcomes and stay competitive.”
Enhancements in Diffusion 6.12 include:
Enhancements to the ‘Set’ Operation in Topic Views
The ‘set’ operation within the Topic Views process clause has been enhanced to support additional use cases and provide greater flexibility when shaping output data. Key improvements include:
Ability to Clear Output Structures
Output structures (objects, arrays, or even the root) can now be emptied prior to selectively copying required items into the output. This simplifies scenarios where large input datasets need to be reduced to only a few items. New special values are available: empty_object and empty array (or, for short, $O and $A respectively). For example, set(, $O) clears the entire output, while set(/pointer, $O) clears only a specific structure.
Copying Items to the Same Output Location
A new “set to pointer” capability allows items (scalars or structures) to be copied directly to the same pointer location in the output. This is particularly useful when repopulating a structure that was previously cleared.
Support for Copying Complete Data Structures
This enhancement enables copying of entire objects or arrays in addition to scalar values, making it possible to move complete structures from input to output which is useful if a higher-level structure has been cleared, but also allows for copying to entirely different structures.
Metric Alerts
There is a new Metrics notifications feature which allows metrics alerts to be notified to topics when certain criteria are satisfied. For example, an alert could be set up which will write to a topic when the memory utilisation exceeds a specified threshold.
Session Authentication – Expiry
There is now a new session property called “$ExpiryTime” which lets an authenticator define when a session should automatically close, in milliseconds. If not set, the session won’t expire. Clients can now use the new re-authenticate method – replacing changePrincipal – to either switch principals or re-authenticate with the same one, while also updating session properties if needed. Clients can check their own fixed session properties, including expiry time, with getSessionProperties. Finally, administrators can use revokeAuthentication to immediately close another client’s session.
Put together, these changes mean that sessions now have clearer lifecycles. They can expire automatically, be refreshed by re-authentication, and be forcibly revoked by administrators when necessary.
Topic View insert ’s now Allowed at any Point in the Specification
Topic view inserts can now appear anywhere in the specification, not just at the end, allowing them to be interspersed with other transformations.
Regular Expression Matching for String Comparison in Topic Views
There is now a new matches or =~ operator available in topic view “process” conditionals. This allows for advanced string comparisons using regular expressions, providing greater flexibility and precision.
Session Lock Query API
There is now a new API available in the ClientControl feature, which enables control clients to query session locks. There is a getSessionLocks method, which returns details of all current session locks, as well as a getSessionLock method to query a specific named session lock.
SubscriptionControl Feature now Cluster Aware
Previously, the SubscriptionControl feature methods to subscribe and unsubscribe sessions would only work for sessions connected to the same server as the control client using the feature. This meant that when Diffusion was running in a cluster a control client would need to connect separately to all servers in the cluster in order to manage all sessions. In this release, all methods in the SubscriptionControl feature apply to all sessions across a cluster.
SELECT_TOPIC Permissions Changes
In 6.12, the SELECT_TOPIC path permission is required for all paths that a topic selector may match — not just the path prefix. In earlier versions, SELECT_TOPIC permission was only required for the prefix of a topic selector. A session could use a selector to access an entire branch of the topic tree as long as it had permission at the top-level path. As a result, it was not possible to selectively remove access from a sub-branch — access to the parent path implicitly granted access to everything below it.
The permission model has now been made more restrictive. To fetch or subscribe using a topic selector, a session must now have SELECT_TOPIC permission for each individual path that the selector may match. This allows SELECT_TOPIC to be granted to a branch of the topic tree and explicitly revoked for specific sub-branches.
For full path pattern topic selectors, the model is even more restrictive: SELECT_TOPIC permission is required for all paths at and below the path prefix. This is necessary to prevent circumvention using advanced regular expressions. This enhancement delivers more granular, flexible, and secure topic access management.
Improvements to the Journal Feature
In 6.12, the Journal feature has been simplified. The feature is now configured in the Server.xml configuration file, and the issued file contains a sample block with the feature disabled. A sample configuration file is now issued in the Diffusion ./etc installation directory which has all possible actions that can be configured, but with all disabled.
Topic Selection Scopes
In previous versions of Diffusion, if two different components of a client application, sharing a single Diffusion connection, subscribed to a topic and one of them later unsubscribed, the topic would be unsubscribed for the session and consequently for all components. Now, it is possible to specify a named scope when subscribing, such that a later unsubscription specifying that scope has no effect on other subscriptions that named a different scope. This allows subscriptions to be localised to the components that need them. There are now new subscription and unsubscription methods that take a scope parameter to support this. Applications using the old methods will continue to work as before, as their subscriptions will all be assigned to a default scope.
Other Improvements
- In 6.12, both the Diffusion server and Java Client require Java 17. Older clients can still connect, but the 6.12 Java Client is needed to access all new features.
- The JavaScript Client and Console now support the Safari browser.
- The Dotnet SDK client can now specify a custom URL path to connect to Diffusion through use of the new parameterless ISessionFactory Open and OpenAsync API in conjunction with the new ISessionFactory attributes: ServerHost , ServerPort , SecureTransport and RequestPath .
The Global Esports Federation at its 16th Board Meeting approved the draft program for the Los Angeles 2026 Global Esports Games, to be held in December 2026. This follows the earlier announcement of Los Angeles as host city at a major ceremony hosted by Los Angeles Times Media Group Executive Chairman & CEO Dr. Patrick Soon-Shiong, Los Angeles Mayor Karen Bass, and El Segundo Mayor Chris Pimentel—now marking a significant milestone on the road to GEF’s flagship event in the United States.
The GEF Board also unanimously elected Paul J. Foster as President of the Global Esports Federation. Paul, who is GEF Chief Executive Officer, was appointed President ad interim following the resignation of founding President Chris Chan in July, and now assumes the role of President & CEO through December 2027.
In addition, the GEF Board approved the establishment of frameworks to develop the esports ecosystem in the United States, anchored in Los Angeles. This initiative will strengthen the GEF’s connections with stakeholders worldwide and reinforce its mission to elevate esports for all.
The outcomes of GEF 16th Board Meeting reaffirm the GEF’s role as a convening platform, uniting athletes, publishers, Member Federations, and partners to power the future of esports globally.
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