DraftKings Exceeds Q1 Revenue Expectations, Announces Executive Changes and Jackpocket Acquisition to Fuel Growth

Quarter-to-date state data shows DraftKings' Q1 2024 revenue is trending 5-8% higher than expected before the launch in North Carolina.

DraftKings announced management changes - CFO becoming Chief Transformation Officer, SVP of Finance becoming new CFO.

DraftKings is acquiring lottery courier company Jackpocket for $750 million to expand offerings.

Analysts see upside for DraftKings from same-state growth, operating leverage, and free cash flow generation.

Bank of America analysts say DraftKings is setting itself apart with focus on both marketing and product/technology.