DraftKings loses $142.7m on increased technology costs

Operator reported marketing and tech costs were up during 2019 as it hired more engineers and marketed to newly entered states

Annual losses at DraftKings widened by 87% to $142.7m in 2019 on continued platform development and expansion into new states. Reporting its full-year financial results, adjusted EBITDA loss also increased 68% on the previous year to $98.6m while revenue was up 43% to $323.4m for the year. DraftKings attributed the revenue increase to its full…

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