Home > Finance > Quarterly results > DraftKings increases FY guidance after Q1 growth
DraftKings raised full-year guidance for revenue and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) following growth in the first quarter of its 2023 financial year.
The operator said efficient acquisition of new customers, product innovation driving higher hold percentage, decreased promotional intensity in more mature states and continued healthy customer retention helped drive revenue up year-on-year in the three months to March 31.
DraftKings was also helped by the launch of its online sports betting product in the states of Massachusetts and Ohio, bringing the total number of states in which it is live with wagering to 21. The operator also runs igaming in five states and has a presence with both offerings in Ontario in Canada.
Read the full story on iGB North America.
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