This morning’s earnings call dug into some of the why: Improved product that is attracting and engaging more bettors, particularly on more profitable in-play and parlay bet types a better-than-expected rollover of NBA bettors into baseball and lower promotional spending than expected. We’ll start with the score on the most recent of the quarterly reports in the gambling sector: DraftKings lost $77.3 million in Q2, but beat analysts expectations thanks to higher than expected revenue of $762 million. Improved product helping DraftKings with profitability It’s Finance Friday here at SBJ Betting, coming off a week that included Q2 earnings calls from Caesars, MGM Resorts, Rush Street and, this morning, DraftKings. My job here is to get you to the why, or at least the part of it revealed during calls with analysts.
You already know the score up or down, met expectations or missed.
That’s sort of how I think about quarterly earnings. I came of age as a sportswriter at a time that telling the story of a game was becoming less about what happened than why it happened.
