Draftkings Likely to Keep Guidance Unchanged Despite Big Super Bowl -- Market Talk

Dow Jones

Feb 13, 2025

1337 ET - The Super Bowl seemed to be a good day for online sports betting companies, with Flutter Entertainment's Fanduel reporting a 19% increase in bets to 16.6 million, and BetMGM calling it "one of the best single game results in company history," BofA Securities analysts say in a research note. The ability to grow double-digits during the biggest event of the year could help ease concerns of slowing handle, or the amount of money wagered by bettors, the analysts say. DraftKings led active user share on Sunday at 23%, followed by FanDuel at 17%, while Bet365, PrizePicks and ESPN Bet each had 10% share, BofA says. Still, the analysts don't expect DraftKings to raise guidance, as it might face $100 million of annualized headwinds from higher taxes in Maryland and Ohio, together with launch costs in Missouri. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

February 12, 2025 13:37 ET (18:37 GMT)

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(sabela.ojea@wsj.com; @sabelaojeaguix) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 12, 2025 13:37 ET (18:37 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Draftkings Likely to Keep Guidance Unchanged Despite Big Super Bowl -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDraftkings Likely to Keep Guidance Unchanged Despite Big Super Bowl -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-13 02:37</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1337 ET - The Super Bowl seemed to be a good day for online sports betting companies, with Flutter Entertainment's Fanduel reporting a 19% increase in bets to 16.6 million, and BetMGM calling it \"one of the best single game results in company history,\" BofA Securities analysts say in a research note. The ability to grow double-digits during the biggest event of the year could help ease concerns of slowing handle, or the amount of money wagered by bettors, the analysts say. DraftKings led active user share on Sunday at 23%, followed by FanDuel at 17%, while Bet365, PrizePicks and ESPN Bet each had 10% share, BofA says. Still, the analysts don't expect DraftKings to raise guidance, as it might face $100 million of annualized headwinds from higher taxes in Maryland and Ohio, together with launch costs in Missouri. 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The ability to grow double-digits during the biggest event of the year could help ease concerns of slowing handle, or the amount of money wagered by bettors, the analysts say. DraftKings led active user share on Sunday at 23%, followed by FanDuel at 17%, while Bet365, PrizePicks and ESPN Bet each had 10% share, BofA says. Still, the analysts don't expect DraftKings to raise guidance, as it might face $100 million of annualized headwinds from higher taxes in Maryland and Ohio, together with launch costs in Missouri. 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The ability to grow double-digits during the biggest event of the year could help ease concerns of slowing handle, or the amount of money wagered by bettors, the analysts say. DraftKings led active user share on Sunday at 23%, followed by FanDuel at 17%, while Bet365, PrizePicks and ESPN Bet each had 10% share, BofA says. Still, the analysts don't expect DraftKings to raise guidance, as it might face $100 million of annualized headwinds from higher taxes in Maryland and Ohio, together with launch costs in Missouri. (sabela.ojea@wsj.com; @sabelaojeaguix) \n\n\n  (END) Dow Jones Newswires\n\n\n  February 12, 2025 13:37 ET (18:37 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}