Bloomberg Talks DraftKings CEO Jason Robins Talks Earnings, Future of Gambling
May 9, 2025
DraftKings CEO Jason Robbins dives into impressive quarterly earnings, highlighting a significant $170 million revenue despite challenges in Texas. He discusses the influence of March Madness and the shifting landscape of gambling, examining the balance between onsite and online options. The conversation also sheds light on the potential of integrating platforms for future growth and the complicated relationship between online gambling and traditional casinos, revealing both benefits and concerns for the industry.
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March Madness Impact on Revenue
- DraftKings' March Madness losses totaled about $200 million, a significant but somewhat offset figure.
- Sports outcomes fluctuations are natural and expected to balance out over time, reflecting the nature of betting.
Jackpocket's Growth Potential
- Jackpocket remains a small but promising part of DraftKings, with growth and better integration expected.
- Cross-sell success is stronger than anticipated, indicating potential future gains.
Online vs Land-based Casinos
- Online gambling's impact on land-based casinos is mixed, with some markets declining and others growing post-legalization.
- The fear of cannibalization is overblown; education is needed to convey the true market dynamics.