DraftKings reported a 4.6% year-on-year decline in second-quarter revenue, totaling $1.44 billion. The North American betting and gaming operator attributed the decrease to sports results and ongoing investment in its sportsbook and prediction markets.
Financial Results and User Growth
Revenue for the first half of the year reached $3.09 billion, representing a 5.8% increase from the previous period. Adjusted EBITDA for the quarter fell to $114.6 million, down from $300.6 million, while the first-half total dropped to $282.5 million from $403.3 million. Monthly unique players rose 9% to 3.6 million, though average revenue per monthly active user fell 13% to $132.
The company maintained its full-year revenue guidance between $6.5 billion and $6.9 billion. Adjusted EBITDA guidance for the year remains set between $700 million and $900 million. CEO Jason Robins noted that the core business entered the second half of the year with growth across handle, users, and engagement.
He highlighted the nationwide launch of the Super App and faster-than-expected growth in the Predictions category. CFO Alan Ellingson stated that the core business is on track to generate approximately $1 billion in adjusted EBITDA this year.
These results were announced shortly after rival Flutter Entertainment confirmed the departure of CEO Peter Jackson, with Dan Taylor set to replace him.