SBTech

7th May 2021

DraftKings ups guidance as revenue grows 252% but losses rise further

DraftKings’ revenue continued to rocket in Q1, growing 252.7% to $312.3m, but losses widened as the operator’s sky-high costs of sales and marketing costs continued…

9th March 2021

DraftKings ups long-term EBITDA guidance to $1.7bn

DraftKings has upped its long-term earnings before interest, tax, depreciation and amortisation (EBITDA) guidance from $1bn to $1.7bn, following strong igaming results in 2020. The…

13th November 2020

DraftKings raises 2020 guidance following Q3 growth

A third quarter in which revenue grew strongly has prompted DraftKings to raise its full year guidance for 2020, though the operator and technology provider’s…

8th October 2020

State of the Union: DraftKings, IL, Boyd and more

This week’s State of the Union, in partnership with Segev LLP, covers DraftKings’ efforts to raise $1.66bn, record sports betting figures for the US in…

8th October 2020

OR sets betting handle record in September, but GGR declines

Oregon’s SBTech-powered Scoreboard sportsbook set another record for handle at $26.2m in September, but saw revenue fall by 8.1% to $1.5m thanks to a negative…

7th October 2020

DraftKings targets $1.66bn from share placement

DraftKings Inc is set to raise a further $600m from the new share placement announced earlier this week, after further details were released. The Boston-headquartered…

5th October 2020

DraftKings looks to raise $1bn in new funding round

Nasdaq-listed sports betting giant DraftKings is looking to raise $1.03bn through a new public offering of common stock. The US group – formed by the…

15th September 2020

Oregon Lottery sets betting handle record in August

Oregon’s SBTech-powered betting app scoreboard took in revenue of $1.7m, up 6.6%, in August, and set a new record for turnover at $25.8m, up 83.8%.…

28th August 2020

Churchill Downs shifts online offering to Kambi and GAN

Churchill Downs Incorporated (CDI) has announced that it will migrate its BetAmerica-branded sports betting and igaming business to Kambi and GAN’s software.  The deal will…

20th August 2020

State of the Union: DraftKings, Covid-19, Puerto Rico and more

This week’s State of the Union, in partnership with Segev LLP, includes DraftKings’ first financial statements since its merger with SBTech and public listing on…

14th August 2020

DraftKings revenue up 27.1% in H1 as net loss widens

Sports betting and daily fantasy giant DraftKings reported a 27.1% year-on-year rise in revenue for the first half of 2020, though the business’ net loss…

3rd August 2020

Soccer and MMA drive OR lottery betting growth in June

The Oregon Lottery’s SBTech-powered sportsbook app Score Board has seen revenue and handle growth continue into June, thanks again to the strong performance of soccer,…

30th July 2020

State of the Union: DraftKings, Rush Street, NV and more

This week’s State of the Union, in partnership with Segev LLP, covers DraftKings and Kambi’s decision to cooperate as the operator migrates from Kambi’s platform…

24th July 2020

DraftKings and Kambi to cooperate for Q3 2021 tech migration

Daily fantasy and sports betting operator DraftKings and B2B sports betting supplier Kambi have reached an agreement to cooperate on DraftKings’ migration from Kambi’s back-end…