Last Updated on June 2, 2020

Even without major live sports to bet on, DraftKings revenue continues to grow despite the CoronaVirus pandemic.

 

DraftKings Inc. (NASDAQ: DKNG) reported their first quarter financial results in a press release today.

“We are uniquely positioned at the intersection of digital sports entertainment and gaming in a rapidly growing industry,” said Jason Robins, DraftKings co-founder, CEO and Chairman of the Board. “DraftKings recorded standalone Q1 year-over-year revenue growth of 30% despite the effects of COVID-19.  Additionally, the engagement we continue to see from our customers validates the connection they have with our content, their passion for our products and most importantly their loyalty to our brand.”

 

New Products Offsetting COVID-19 Impact

Even with the CoronaVirus pandemic hitting harshly in many states, DraftKings has created new products and technology to allow consumers different ways to continue to bet in legal states.

Fantasy sports still remain available as well as betting on Counter Strike, Rocket League and eNASCAR. Furthermore, DraftKings does not anticipate long-term hits due to the pandemic.

 

U.S Sports Betting & iGaming Legislative Impact

Since the start of 2020, DraftKings has launched in the following states in a variety of capacities. In Iowa, DK has launched both online and retail sports betting, along with online sports betting in Colorado. iGaming options are laso now available from DK in the state of Pennsylvania.

Ben Heisler
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