DraftKings Q1 Earnings Preview: Here's What You Need to Know
DraftKings (NASDAQ: DKNG) had a volatile 2020. When several major sports leagues canceled or postponed their seasons at the pandemic's onset, engagement on its platform sank heavily. Eventually, it rebounded as sporting events returned (albeit in a modified form) and the fantasy sports platform and sports betting operator got back to doing what it does best.
As much of the company's revenue relies on customers placing wagers on the outcome of a sporting event, the return of sports was vital. Weirdly, the increasing number of people staying at home to protect against the pandemic further helped DraftKings recover. With limited entertainment options, more consumers turned to wagering on sports to occupy their time.
Now states are easing business restrictions, making more outside entertainment options available to people. It will be interesting to see if DraftKings users have adapted their behavior permanently. When the company reports first-quarter results on Friday, May 7, you're going to want to know its monthly unique player (MUP) total.
Source Fool.com
