According to an official report from DraftKings Inc, the company's Q1 2024 revenue reached $1.175 billion, with a 53% year-over-year growth.
Adjusted EBITDA in Q1 made $22.4 million, while in Q1 2023 it was -$221.6m.
These and other positive points have led to DraftKings updating their FY 2024 guidance from $460 million to $540 million in EBITDA and from $4.78bn to $4.9bn in revenue.
Here are some more figures from DraftKings' report:
Monthly active users (MAU): 3.4m (+23% YoY);
Average check per user: $114 (+25% YoY);
Adjusted EBITDA flow-through percentage: 60% in Q1 2024; expected to be 53% for FY 2024.
Structural sportsbook hold percentage: Increased to 9.8% in Q1 2024, up approximately 150 basis points year-over-year.
Alongside FanDuel, DraftKings are one of the biggest gaming operators in the USA. As of now, the company provides bookmaking services in 25 states and operates as a casino in 5 states. Besides, DraftKings are licenced in Ontario.
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