Despite shakiness in the overall sports economy, with declining TV ratings and event revenue due to Covid-19, DraftKings is wagering on the continued health of the sports betting business.The online gaming firm reported fourth-quarter results ahead of Wall Street forecasts, with revenue of $322 million and a loss of 24 cents per share on an adjusted basis.
Comparisons with the same period in 2019 are inexact because the company formed and went public last April. On a pro forma basis, the company said, the revenue figure rose 98%.
Wall Street analysts had expected a loss of 47 cents a share.Investors hailed the news, sending DraftKings shares up 5% in early trading, to $60.77 a share.The company reported having 1.5 million monthly unique
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