DraftKings Q1 losses rise 132% to $67m

SBTech costs also hit $7.5m on transaction costs relating to its three-way deal with DraftKings and Diamond Eagle

DraftKings (DK) recorded a net loss of $66.7m in Q1, an increase of 132% on the previous year due to its investment in SBTech and launching its IPO. EBITDA loss increased to $49.5m from $20.4m last year despite a revenue uptick of 30% year-on-year and 60% pre-coronavirus. The operator expects to incur further operating losses…

DraftKings | Esports | Finance | Jason Robins | SBTech | Virtual sports