DraftKings Is Raising Expectations for 2021
DraftKings' (NASDAQ: DKNG) first-quarter earnings results released last week were better than expected, and they gave management the confidence to raise revenue targets for the rest of 2021. The outperformance can be partly attributed to an executive order by the Illinois governor extending the timeline to sign up for mobile sportsbooks online. Without the extension, new customers would have had to register in person and that inconvenience would likely have decreased the pace of signups.
Such an action ended up being a lucky break for DraftKings, but it wasn't the only factor leading to the excellent first quarter or the improved revenue outlook on the year.
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Source Fool.com
