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DraftKings Raises Its 2020 Outlook

TheMotleyFool

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DraftKings (NASDAQ: DKNG) benefited from a rebounding sports calendar to post significant sales growth through late September. The sports betting specialist on Friday revealed that revenue jumped 98% year over year in the fiscal third quarter.

Much of that gain came from its acquisition of the Diamond Eagle business, but sales still rose 42% after adjusting for that purchase.

Executives credited the restarting of the professional sports calendar for helping push DraftKings' pool of active users up 64% to over 1 million. "The resumption of major sports such as the NBA, MLB, and the NHL in the third quarter generated tremendous customer engagement," CEO Jason Robins said in a press release.

Source Fool.com

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