DraftKings, a fantasy sports website
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The growth of online sports betting and casino gaming across the U.S. has led to soaring revenue for sportsbook companies, but an already crowded race for consumers’ dollars is about to get more competitive.
DraftKings, which reported quarterly results that beat Wall Street’s estimates on Thursday, has emerged as the biggest player in a space where several companies are jockeying for market share.
The gaming company said its revenue jumped 57% to $790 million for its third quarter ending Sept. 30 as it expands into new jurisdictions, broadens its customer base and keeps existing customers spending on its platform. Its success, which sent shares more than 16% higher Friday, came not only from sports betting, but also from online versions of casino games.
It’s been a winning plan that others in the fast-growing industry have followed. But a space that already boasts names like FanDuel, Caesars, MGM and Fanatics is about to get more…
2023-11-03 15:54:31
Post from www.cnbc.com
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