DraftKings revenue rises 60% in Q3 as losses mount

US operator migrates to in-house technology stack ahead of schedule as unfavourable NFL results reduce third-quarter revenue by $40m

DraftKings revenue increased by 60% annually to $213m for Q3 2021, according to the US sports betting heavyweight’s latest financial report. The Nasdaq-listed firm revealed Q3 net losses of $545m, worsening from the $395m reported during the same period in 2020. Pro forma costs relating to sales and marketing, product and technology, and general administrative…

DraftKings | Finance | Jason Robins | Q3 2021 | US | US sports betting