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DraftKings Reports Fourth Quarter and Full-Year 2020 Results and Raises 2021 Revenue Guidance

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DraftKings Inc. reported fourth quarter and full-year 2020 financial results.

Fourth Quarter 2020 Highlights

For the three months ended December 31, 2020, DraftKings reported revenue of $322 million, an increase of 146% compared to $131 million during the same period in 2019. After giving pro forma effect to the business combination with SBTech (Global) Limited (“SBTech”) and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue grew 98% compared to the three months ended December 31, 2019.

“With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to $322 million in fourth quarter revenue, a 98% year over year increase,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “In the fourth quarter of 2020, we saw MUPs increase 44% to 1.5 million and ARPMUP increase 55% to $65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance.”

Favorable Sports Calendar and Strong Customer Engagement Drove Q4 Results

  • Monthly Unique Payers (“MUPs”) for our B2C segment increased 44% compared to the fourth quarter of 2019. On average, 1.5 million monthly unique paying customers engaged with DraftKings each month during the fourth quarter. The increase reflects strong unique payer retention and acquisition across DFS, OSB and iGaming. For 2020, MUPs increased 29%, which includes the impact of COVID-19 on our MUPs for Sportsbook and DFS primarily during the second quarter and early in the third quarter.
  • Average Revenue per MUP (“ARPMUP”) was $65 in the fourth quarter representing a 55% increase versus the same period in 2019. Our ARPMUP was positively impacted by increased engagement with our iGaming and mobile sports betting product offerings as well as successful cross-selling. For 2020, ARPMUP increased 29%.

Increasing 2021 Revenue Guidance

  • DraftKings is raising its fiscal year 2021 revenue guidance from a range of $750 million to $850 million to a range of $900 million to $1 billion, which equates to year-over-year growth of 40% to 55% and a 19% increase compared to the midpoint of our previous guidance.
  • The increase reflects strong performance in the fourth quarter of 2020, substantial user activation due to the effectiveness of our 2020 marketing spend, and the launch of mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia. This guidance also assumes that all professional and college sports calendars that have been announced come to fruition and that we continue to operate in states in which we are live today.
  • Detailed financial data and other information for the fourth quarter and full-year 2020 is available in DraftKings’ Annual Report on Form 10-K, being filed today with the Securities and Exchange Commission (the “SEC”), as well as in a slide presentation that can be accessed through the “Investors” section of the Company’s website at investors.draftkings.com.

DraftKings Grows Its Nation-Leading Mobile Sports Betting and iGaming Footprint

DraftKings expanded its footprint to include mobile sports betting in Tennessee in the fourth quarter of 2020. In 2021, DraftKings launched mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia.

  • In November, DraftKings launched mobile sports betting in Tennessee. The state of Tennessee had the best two month launch in U.S. sports betting history with over $300 million in handle in its first two months of operation including 38% month-over-month growth in December.
  • On January 1, 2021, DraftKings began mobile registration in Iowa according to state regulations. By 3PM ET on January 5, DraftKings registered more customers via mobile registration than through the entirety of 2020.
  • Following successful launches in Michigan and Virginia in 2021 (combined these states represent 6% of the U.S. population), DraftKings is now live with mobile sports betting in 12 states, which is more than any other company in the industry. These 12 states together represent 25% of the U.S. population, a position that DraftKings has achieved less than three years after the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992.
  • In 2021, 19 state legislatures have introduced legislation to legalize online sports betting, five state legislatures have introduced legislation to expand their existing sports wagering frameworks and one state legislature has introduced legislation to legalize sports betting limited to retail locations. In addition, four states have introduced iGaming legislation and two states have introduced online poker legislation.

Commercial and Strategic Agreements

DraftKings announced several advantageous commercial and strategic agreements in the fourth quarter that are expected to provide the Company with access to unique and valuable content, intellectual property and marketing assets, including:

  • a multi-channel deal with the Mashantucket Pequot Tribal Nation and Foxwoods Resorts Casino, which would provide DraftKings with access for online sports betting ahead of the anticipated launch of legal sports betting in Connecticut, subject to necessary legislative and regulatory approvals. As part of the deal, DraftKings also became the official daily fantasy sports partner of Foxwoods Resort Casino;
  • a multi-year agreement with Turner Sports, making DraftKings the exclusive sportsbook and daily fantasy sports provider across select Turner Sports and Bleacher Report properties, excluding NBA programming;
  • an agreement with Triller which allowed DraftKings to be the “Official Sports Betting and Fantasy Sports Partner” of the boxing match between Mike Tyson and Roy Jones Jr.;
  • a multi-year deal with the Philadelphia Eagles, making DraftKings the Official Daily Fantasy Sports Partner and Official Sports Betting Partner of the team;
  • an exclusive, multi-year relationship with Bryson DeChambeau, who became the first active professional golfer to represent DraftKings via an integrated brand, content, marketing, and VIP centric collaboration;
  • an agreement with the Detroit Pistons, making DraftKings the team’s exclusive Official Daily Fantasy Sports Partner, as well as an Official Sports Betting and Casino Partner;
  • a multi-year deal with the Nashville Predators, making DraftKings the Official Daily Fantasy Sports Partner and an Official Sports Betting Partner of the team;
  • the successful launch of a mobile and online iGaming and sportsbook platform for PalaceBet (PalaceBet.co.za) in South Africa, powered by DraftKings’ cutting-edge B2B sports betting and iGaming technology;
  • the renewal and extension of our relationship with MansionBet, the Gibraltar-based sport betting brand of the Mansion Group, which will see DraftKings’ B2B technology continue to power the tier one operator’s sportsbook and casino platform; and
  • an agreement with InComm Payments to launch an industry-first retail gift card. The launch enables consumers to gift the DraftKings experience to others in $25 and $50 denominations and expands our brand across retail locations nationwide.

Product, Technology and Content

DraftKings’ migration to SBTech continues to be on-track for completion by the end of third quarter of 2021. We also continued to invest in our products and create engaging content:

  • maintained the highest DFS app store ratings for both iOS and Android as well as the highest iOS rating for Casino and Sportsbook. As of March 1, 2021, Google is expanding the number of countries where developers can publish licensed real money gaming apps to include the United States. DraftKings’ Sportsbook and Casino apps will be available to download for Android users via the Google Play Store;
  • announced a multi-year agreement to become a primary sponsor of the Center for Gaming Innovation, housed within the International Gaming Institute (IGI) at the University of Nevada, Las Vegas (UNLV); and
  • developed an original concept show, B/R Drop Zone: DraftKings Big Game Prop Reveal, that provided football fans with an exclusive first glimpse at DraftKings’ proprietary Super Bowl prop bets in a new reveal show which streamed live on the Bleacher Report app.

Environmental, Social and Governance Initiatives

DraftKings raised and donated over $1.6 million to charity through a variety of ESG-related initiatives in 2020. Fourth quarter 2020 and first quarter 2021 highlights include:

  • published our first ESG report on February 22, 2021 outlining our views on environmental, social and governance factors and highlighting those factors that are most relevant to our business;
  • raised $113,000 to help fund breast cancer research in collaboration with the Larry Fitzgerald Foundation through the second-annual DraftKings Pink ‘Em initiative, a month-long philanthropic effort that featured four charity contests on each NFL Sunday in October. More than 385,000 DraftKings customers participated throughout Breast Cancer Awareness Month this season;
  • raised $183,000 through charity DFS contests in support of the Company’s Tech for Heroes initiative, which provides recent and returning veterans and their spouses with free, high-tech skills training in areas like front end web development and cybersecurity; and
  • raised $180,000 through charity DFS contests in support of the Community Foundation of Middle Tennessee, which created the Neighbor’s Fund in response to the Christmas Day explosion that occurred in downtown Nashville, Tennessee.
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Adam Fonsica Co‑Founder & COO at Random State

Random State obtains Ontario iGaming licence

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May 19, 2025

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Random State (“RS”), the Swedish studio behind next‑generation iLottery and multiplayer bingo content, has been granted a Gaming‑Related Supplier – Manufacturer licence by the Alcohol and Gaming Commission of Ontario (AGCO). The approval, effective 14 May 2025, authorises RS to offer its games and platform services to licensed operators across Ontario.

“Securing the Ontario licence is a milestone our entire team has worked tirelessly toward,” said Adam Fonsica, Co‑Founder & COO at Random State. “Ontario not only validates the quality and integrity of our technology; it provides a launchpad for our broader North‑American expansion. We can’t wait to introduce our eInstant titles and multiplayer bingo hub to Ontario players later this year, together with a soon‑to‑be‑announced operator.”

The licence clears the way for RS to roll out its full product portfolio in Ontario:

Interactive eInstants – instant‑win games that re‑imagine traditional lottery mechanics with modern gameplay and rich visuals.

Multiplayer bingo – a complete suite of 90-, 75-, 80/60/40‑ and 30‑ball variants, featuring progressive jackpots, Pot Booster and real‑time chat hosting.

Turn‑key iGaming platform – advanced Player Account Management (PAM), certified RNG, gamification engine and a WYSIWYG game‑configuration tool that lets operators launch new games in minutes.

Random State expects its first Ontario go‑live in Q3 2025, delivering both eInstants and multiplayer bingo on day one.

The post Random State obtains Ontario iGaming licence appeared first on Gaming and Gambling Industry in the Americas.

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BCLC

Surrey Resident Wins Record-Breaking $80-Million Lotto Max Jackpot

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4 days ago

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May 16, 2025

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Justin Simporios is normally a sound sleeper who “can fall asleep anywhere” – but he had a very sleepless night, after learning he won an $80-million Lotto Max jackpot from the May 9, 2025 draw. This is the largest lottery jackpot ever won in B.C. and is also the largest jackpot ever won by a single individual in Canada.  

“It was 10:30 p.m.,” recalled Simporios of the moment he realized he won. “I saw that someone won $80 million in Surrey. I was joking and told my wife ‘we’re millionaires!’ and she told me to stop making that joke. After, I manually checked each number before scanning [using the BCLC Lotto! I cried and shouted, ‘we’re millionaires!’” 

The Surrey resident woke up his wife to share the news. “She was in complete disbelief and a bit mad at me because our daughter wasn’t feeling well.” Simporios’ wife luckily agreed this was a good reason to wake her.  

While still in disbelief about his win, Simporios is ultimately most excited to share his windfall with his family. “I want to help my family and my wife’s family. I’ll pay off my sister’s medical school debt and help my mom retire early – just giving my family a head start in life.”  

Giving back to the community in Surrey and B.C. is also a key priority for Simporios. “I’ve struggled before and needed help. Even if I can give an ounce of happiness, I want to help where we can. This feels like a dream.”  

As an avid LA Lakers fan, Simporios mentioned he would like to see LeBron James play before James retires. He also plans to visit his family in the Philippines for a family reunion. “My wife and kid have never visited!”   

On how it feels to win a record-breaking jackpot?   

“The biggest change will be having more time with my wife and family. We want to live with a purpose – to help the community around us.”  

Simporios purchased the winning ticket at the Walmart Supercentre in Central City on King George Boulevard in Surrey. 

So far in 2025, B.C. lottery players have redeemed more than $101 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST).  

Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices. Learn more about the BCLC Lotto! 

BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits. 

The post Surrey Resident Wins Record-Breaking $80-Million Lotto Max Jackpot appeared first on Gaming and Gambling Industry in the Americas.

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AGCO

AGCO calls on media platforms to step up the fight against unregulated online gambling sites

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4 days ago

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May 16, 2025

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The Alcohol and Gaming Commission of Ontario (AGCO) has contacted more than a dozen traditional and digital media platforms, calling on them to stop promoting unregulated online gambling and sports betting sites like Bodog to Ontario residents.

Operated by Il Nido Inc., Bodog is an offshore operator actively targeting Ontarians by advertising on popular traditional and digital media platforms. Despite blocking players in Quebec and Nova Scotia from accessing their unregulated gambling and sports betting sites, Bodog continues to allow Ontarians to access these sites while advertising heavily on traditional and digital media platforms targeting Ontarians.

Under the Gaming Control Act, 1992, Bodog and other online gambling sites are required to register with the AGCO and sign an operating agreement with iGaming Ontario in order to operate in Ontario. Ontario’s regulated igaming framework requires operators to meet comprehensive requirements related to game integrity, player protection, anti-money laundering and information privacy. Bodog’s efforts to direct Ontarians to unregulated gambling undermine player protection and other safeguards which exist in the regulated market, as well as fair market principles.

By airing ads for Bodog and other unregulated operators, legitimate media platforms are providing a veneer of legitimacy to unregulated and high-risk sites and creating confusion for Ontarians. The AGCO is therefore calling on these platforms to take a stand against the promotion of unregulated online gambling sites and remove the ads. By doing so, broadcasters and digital media companies will help reduce the risks these sites pose to Ontarians and support the long-term sustainability of Ontario’s regulated igaming market – all key objectives of the AGCO.

The AGCO will continue to work with its partners – both in Ontario and internationally – to combat these unregulated sites and protect the public.

“The AGCO is committed to protecting Ontario players and ensuring they have the safest experience by playing on regulated igaming sites. By refusing to carry advertising from unregulated and high-risk operators like Bodog, media organizations can exemplify social responsibility and play an important role in protecting Ontarians and supporting Ontario’s regulated market.”  – Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO.

The post AGCO calls on media platforms to step up the fight against unregulated online gambling sites appeared first on Gaming and Gambling Industry in the Americas.

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