DraftKings has raised its full-year revenue guidance and adjusted earnings before tax, depreciation, and amortization (EBITDA), following the growth of its first quarter in 2023.
The operator stated that the increased revenue was due to a combination of factors including efficient acquisition of customers, product innovations driving higher hold rates, reduced promotional intensity in mature states, and continued customer retention.
DraftKings also saw a boost from the launch of their online sports betting products in Massachusetts, and Ohio. This brings the total of states where it offers wagering up to 21. The operator offers igaming services in five states, and also has a presence in Ontario, Canada.