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DraftKings Reports First Quarter 2021 Results and Raises 2021 Revenue Guidance

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DraftKings Inc. reported first quarter 2021 financial results.

First Quarter 2021 Highlights

For the three months ended March 31, 2021, DraftKings reported revenue of $312 million, an increase of 253% compared to $89 million during the same period in 2020. 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 175% compared to the three months ended March 31, 2020.

“DraftKings is off to an outstanding start in 2021,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “We continued to make progress and remain on track with the migration to our own in-house proprietary sports betting engine, strengthened our content and technology capabilities with the acquisitions of VSiN and BlueRibbon Software, and invested in further differentiating our product offering with the upcoming rollout of social functionality in our DFS and mobile Sportsbook apps.”

Jason Park, DraftKings’ Chief Financial Officer, added, “Our $312 million in first quarter revenue, 114% increase in MUPs and 48% growth in ARPMUP reflect solid customer acquisition and retention as well as successful launches of mobile sports betting and iGaming in new states. We are raising our revenue outlook for 2021 due to the outperformance of our core business in the first quarter and our expectation for continued healthy growth.”

Strong Customer Retention and Acquisition Drove Q1 Results

Monthly Unique Payers (“MUPs”) for our B2C segment increased 114% compared to the first quarter of 2020. On average, 1.5 million monthly unique paying customers engaged with DraftKings each month during the first quarter. The increase reflects strong unique payer retention and acquisition across Daily Fantasy Sports, Online Sports Betting and iGaming.
Average Revenue per MUP (“ARPMUP”) was $61 in the first quarter representing a 48% increase versus the same period in 2020. Our ARPMUP was positively impacted by increased engagement with our iGaming and mobile sports betting product offerings as well as successful cross-selling.
Increasing 2021 Revenue Guidance

DraftKings is raising its fiscal year 2021 revenue guidance from a range of $900 million to $1 billion to a range of $1.05 billion to $1.15 billion, which equates to year-over-year growth of 63% to 79% and a 16% increase compared to the midpoint of our previous guidance.

The increase reflects solid performance in the first quarter of 2021, continued strong user activation due to the effectiveness of our marketing spend, well-executed launches of mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia, and a modest contribution from our recently completed acquisitions. 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 is available in DraftKings’ Quarterly Report on Form 10-Q, 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 Mobile Sports Betting and iGaming Footprint

In the first quarter of 2021, DraftKings launched mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia.
DraftKings is live with online sports betting in 12 states that collectively represent 25% of the U.S. population. DraftKings is live with iGaming in 4 states, representing approximately 10% of the U.S. population.
In 2021, 25 state legislatures have introduced legislation to legalize mobile sports betting, 5 state legislatures have introduced legislation to expand their existing sports wagering frameworks and 1 state legislature has introduced legislation to legalize sports betting limited to retail locations. In addition, 4 states have introduced iGaming legislation and 3 states have introduced online poker legislation.

Three of the states that introduced legislation to legalize mobile sports betting this year – Wyoming, Arizona and New York – have already enacted mobile sports wagering laws. Maryland has made significant progress with a mobile and retail sports wagering bill passing the legislature and now pending action from the Governor. The three states that have enacted mobile sports wagering laws this year represent 8% of the U.S. population and bring the percentage of the population with legalized mobile sports betting to 35%.
Leadership and Board Updates

DraftKings announced the appointment of Gisele Bündchen, environmental activist and philanthropist, as a special advisor to the Company’s Chief Executive Officer and board of directors for environmental, social, and governance (“ESG”) initiatives.
We expanded our executive team with the addition of Brian Angiolet to oversee and optimize content creation and media strategy as the Company’s first Chief Media Officer.
Environmental, Social and Governance Initiatives Continue to Grow

We undertook a variety of internal and external efforts in honor of International Women’s Day to support women entrepreneurs and small business owners throughout March, while also recognizing the day as an official company holiday for our global employees. Customer participation in the Women’s History Month Sports Popularity Pool, which highlighted the greatest athletes and moments in women’s sports, helped generate $300,000 in total donations to several U.S. and global organizations focused on empowering and aiding women entrepreneurs and women-founded small businesses.
We raised $184,000 through charity DFS contests in support of Feeding Texas’ efforts to provide help to those impacted by the winter storms in Texas.

Product Developments, Content Initiatives and Commercial Agreements

The migration to our proprietary in-house back end and trading technology continues to be on-track for completion by the end of the third quarter of 2021.
We are announcing the upcoming rollout of social functionality to our DFS and mobile Sportsbook apps, marking an industry-first innovation to create an integrated social community across sports betting and daily fantasy sports, as fans can interact with each other within a shared, peer-to-peer environment. The product is particularly unique because it amplifies our ability to create an interconnected ecosystem across our consumer products. Features like universal profiles, friends lists, commenting and loyalty/rewards will allow DraftKings to connect users across products.
We acquired Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company delivering trusted sports betting news, analysis and data to U.S. sports bettors since 2017.
We acquired BlueRibbon Software Ltd., a leading global jackpot and gamification company that provides platform-agnostic, real-time gamification tools that allow for fully customizable jackpot promotions.
We announced an agreement with DISH Network to bring DraftKings’ sportsbook and daily fantasy experiences directly to DISH customers nationwide, beginning with a first-of-its-kind and patent-pending DraftKings app integration on the DISH TV Hopper platform. The agreement also provided for the subsequent launch of SLING TV’s new exclusive sports betting information channels in collaboration with DraftKings. SLING TV subscribers and SLING Free users can now view real-time game scores and betting odds on the DraftKings Basketball, Baseball and Hockey channels. SLING TV will continue to bring the DraftKings sports betting experience to customers with more sports and expanded offerings in the future.
DraftKings became UFC’s first-ever “Official Sportsbook and Daily Fantasy Partner” in the United States and Canada and will now be able to offer in-game promotions, activations, in-broadcast odds integrations and UFC branding across its daily fantasy and betting products and will possess rights to use official UFC marks and logos.

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Alberta’s Next Step into a Regulated Commercial Gambling Market: What it Means for Operators and Affiliates

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Alberta is set to become Canada’s second commercial online gambling market, following in the footsteps of Ontario, which went live in 2022. With a summer launch expected, Alberta will soon shift from a single-operator market (PlayAlberta) to a competitive market in North America.

The change comes in the form of Bill 48, otherwise known as the iGaming Alberta Act. The measure was introduced in March 2025 to the Legislative Assembly of Alberta by Minister of Service Alberta and Red Tape Reduction, Dale Nally. The bill later received royal assent in May.

As seen with the emergence of new markets in the US, Alberta will be no different for operators and affiliates, offering more than just new gaming opportunities, but also the progression of a digital marketing ecosystem.

 

Understanding the Regulatory Shift

Alberta represents a big shift from one operator to many. With an evolving market comes more opportunities for operators, but also concerns regarding addiction and the cannibalization of retail venues.

Alberta’s new framework introduces a system that protects players, especially in the offshore gambling market, and also outlines ways in which iCasinos and land-based casinos can operate in relative harmony.

Looking more closely at Bill 48, it’s clear that the measure takes on similarities to Ontario’s established market but tweaks and expands on it to focus more on Alberta and how operators can thrive in the province, separate from Ontario.

To start with, the measure would create a new regulatory framework under the watchful eye of the Alberta iGaming Corporation, while the province’s current regulator, the Alberta Gaming, Liquor and Cannabis Commission (AGLC), would continue issuing licenses to prospective operators.

The Alberta Government also released its Standards & Requirements for Internet Gaming in January, an 85-page document that laid out the new regulatory framework. As part of this framework, it detailed mandatory licensing fees for operators and an 80/20 revenue split, with operators keeping 80% of the revenue they generate.

 

Why Alberta Matters Strategically

Alberta represents an ever-evolving and expanding iGaming-regulated market in North America. Focusing on Canada, it also provides insurance for other provinces to follow suit and expand their own markets to include commercial operators.

Alberta is home to five million residents, and according to a report from Canadian law firm BLG, it has one of the highest per-capita gambling spend in the country. While that is sure to entice operators to join the newly regulated market, reports also suggest the market is poised to generate $400 million in annual revenue.

Another reason Alberta has legalized commercial iGaming is to combat offshore operators. According to Nally, the province’s offshore market was estimated to have taken up 70% of Alberta’s online gambling market.

Another report commissioned by Ontario gambling regulator, the Alcohol and Gaming Commission of Ontario (AGCO), revealed that prior to the province’s regulated market, the offshore market was also expected to account for 70% of all iGaming. A year after the regulation, AGCO found that 86% of respondents preferred using regulated sites.

The growth of iGaming in Ontario can serve as a model for how Alberta will progress over the coming years.

 

Marketing and Affiliate Opportunities

Media Troopers is set to play a crucial role in Alberta’s new regulatory framework, especially in player acquisition. With Media Troopers’ assistance, operators can trust they are in reliable hands.

As a leading digital marketing and customer acquisition group, its presence in Alberta’s market can provide operators with up-to-date tools to capture players, including localized marketing channels, access to affiliate partnerships, and acquisition strategies structured around Alberta’s regulatory environment.

Media Troopers is dedicated to providing operators with the resources to grow in new regulated markets, with affiliates positioned as the key to building brand recognition in those markets.

 

Alberta’s Regulatory Standards

As Alberta shifts from a closed to an open market, it brings new regulations. Operators need to adhere to the province’s licensing, auditing, and advertising standards.

The Alberta government has also reiterated its commitment to responsible gaming, introducing a range of measures to protect players.

As part of these protections, the government partnered with Responsible Gambling Canada, and, through them, operators must achieve and maintain the organization’s RG Check accreditation to ensure platforms are up to date with responsible gambling measures, including gambling help and responsible messaging, among other things.

Those operators who take the new regulations in stride are sure to have the most success in the region.

 

Alberta’s Position as a Catalyst for iGaming in Canada

Alberta’s transition into a regulated commercial market is sure to be the cornerstone of iGaming in Canada. Following Ontario’s lead and curating its own gaming ecosystem, only time will tell whether other provinces follow suit.

That said, securing Alberta early should be important to operators, as it is already showing signs of becoming a major market in North America.

By: Shmulik Segal Founder and CEO of Media Troopers

The post Alberta’s Next Step into a Regulated Commercial Gambling Market: What it Means for Operators and Affiliates appeared first on Americas iGaming & Sports Betting News.

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IGSA Welcomes New Partner Members: Focal Research and RGC Canada

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As part of a new responsible gaming initiative, the International Gaming Standards Association (IGSA) has welcomed two new Partner Members, Focal Research Consultants and The Responsible Gambling Council, both from Canada.

IGSA President Mark Pace said: “IGSA is excited to welcome our new partners in Responsible Gaming. We are looking to work with organizations that are truly dedicated to doing good in the RG space. There is a lot of time, energy and money being spent in this area and we want to leverage the incredible work being done in an effort to amplify its positive effect.”

Tracy Schrans, Co-Founder and President of Focal Research, said: “We are pleased to partner with IGSA on this important initiative. Drawing on over three decades of applied research, responsible gambling evaluation, and player protection, we look forward to collaborating with IGSA members to advance practical evidence-based industry standards for keeping players safe.”

“Advancing industry standards for player protection depends on collaboration across the full ecosystem. With deep expertise in standards development, applied research, and harm prevention, RGC is pleased to work alongside IGSA members to develop practical, implementable standards that strengthen player protection in meaningful ways,” said Sarah McCarthy, CEO of the Responsible Gambling Council (RGC).

The post IGSA Welcomes New Partner Members: Focal Research and RGC Canada appeared first on Americas iGaming & Sports Betting News.

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LALIGA Announces Multi-year Partnership with Polymarket

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LALIGA North America has announced a multi-year partnership with Polymarket, the world’s largest prediction market, becoming the first European soccer league to do so.

As the Official and Exclusive Prediction Market Partner of LALIGA in the US and Canada, Polymarket will offer LALIGA fans the ability to engage with Spain’s premier soccer league and its stars at an unprecedented level.

“Soccer’s growth, especially in North America, is spearheaded by young, diverse and multicultural audiences who consume the game across multiple screens, so it’s our goal to continue to engage these demographics in new and unique ways. It’s imperative we go beyond traditional engagement efforts in order to bring these audiences closer to the beautiful game than ever before, and we couldn’t think of a better partner than Polymarket to achieve that,” said Boris Gartner, Relevent CEO & Partner.

For LALIGA North America, the partnership with Polymarket is a testament to the long-term investment and growth in the region as a result of the 20-year joint venture between LALIGA and Relevent launched in 2018. Polymarket joins a robust roster of regional partners including Walmart, Lowe’s, McDonald’s, Verizon, Remitly, and Panini, among others.

The multi-year partnership with Polymarket includes premium broadcast visibility, fan-focused digital and social programming, and exclusive fan experiences such as VIP match hospitality and virtual meet-and-greets with LALIGA legends. Polymarket will also receive exclusive rights to use LALIGA and club intellectual property in connection with LALIGA matches.

Through this partnership, LALIGA and Polymarket will collaborate to establish a responsible and transparent framework that promotes innovative fan participation while upholding the highest standards of sporting integrity, leveraging Polymarket’s recently announced next-generation sports integrity platform launched in partnership with Palantir Technologies and TWG AI.

“Our goal is to give fans a more expressive way to follow the game, where opinions on players, matches, and season outcomes can be reflected in real time. Partnering with LALIGA brings that level of interaction to one of the most passionate global fanbases and introduces a new, more dynamic way for North American audiences to engage with the league,” said Shayne Coplan, Founder and CEO of Polymarket.

Polymarket has rapidly established itself as the prediction market partner of choice for major sports leagues, having announced partnerships with MLB, NHL, UFC, and MLS, which includes serving as the exclusive and official prediction market for MLS Cup, MLS All-Star, and Leagues Cup.

The post LALIGA Announces Multi-year Partnership with Polymarket appeared first on Americas iGaming & Sports Betting News.

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