Latest news with #JasonRobins
Business Wire
3 days ago
- Business
- Business Wire
Gambling.com Group Announces the 2025 American Gambling Awards Program
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Group Limited (Nasdaq: GAMB), (' Group' or the 'Company'), a fast-growing provider of marketing and sports data services for the global online gambling industry, today announced the launch of the 2025 program of the American Gambling Awards. Nominations are now open, and the nomination form is available here. This year's program features a new category: Advisor of the Year. Established in 2019 as the first awards dedicated exclusively to the online gambling market in the United States, this annual event celebrates excellence and innovation in the industry. 'The American Gambling Awards were created to recognize the people and organizations driving progress in the U.S. online gambling industry,' said Charles Gillespie, Co-Founder and CEO of Group. 'Now in our fifth year, the program has evolved into an elite celebration of leadership, innovation, and excellence. We're proud to continue shining a spotlight on the individuals and companies pushing our industry forward.' Group's 2025 American Gambling Awards features 12 distinct categories, spotlighting top-performing sports betting and iGaming operators, industry service providers, policymakers, regulators, and other key figures shaping the American online gambling sector. This year's program introduces the reimagined Advisor of the Year category, replacing the previous Dealmaker of the Year award. It honors the organization whose strategic, financial, or legal advisory contributions have made the most lasting impact on the U.S. online gambling industry, recognizing leadership that shapes the sector's future beyond transactions alone. The nominations for each award category will be evaluated by a panel of 20 judges, each bringing extensive U.S.-specific experience. This esteemed panel features returning industry leaders from last year's American Gambling Awards, including Jason Robins, CEO of DraftKings; Amy Howe, CEO of FanDuel; and Adam Greenblatt, CEO of BetMGM. Their insights and discernment ensure a fair and thorough selection process, reflecting the highest standards of excellence in the field. Several new judges are joining this year's panel, bringing fresh perspectives and deep expertise to the selection process: Jay Deuskar, Co-Founder and CTO of PrizePicks; George Rover, Executive Director of the Responsible Gaming Affiliate Association (RGAA); Ryan Spoon, President of Yahoo Media Group; and Thomas Winter, the driving force behind Golden Nugget's online success and now a member of the Board of Directors at Rush Street Interactive. Each winner of the American Gambling Awards receives a Golden Eagle trophy engraved with their details. Produced by Society Awards – the firm that has produced awards for the Golden Globes® and Emmys® – the Golden Eagle trophy is an 11-inch, gold-plated, cast-pewter statuette of an American Bald Eagle, proudly resting in front of a pile of casino chips. Group will again host a celebratory dinner in New York City for winners, judges, and partners. Following the success of last year's memorable evening, the 2025 event will once again be held at Michelin-starred Italian restaurant Torrisi, one of New York's most in-demand and acclaimed restaurants. This exclusive gathering serves as the highlight of the awards program, celebrating another year of outstanding industry achievements in a truly unforgettable setting. Watch the 2024 sizzle reel to see highlights from last year's celebration. Nominations are now open across 12 categories: Online Sportsbook of the Year Online Casino of the Year Gaming Product of the Year Betting Product of the Year Platform Provider of the Year Data Service Provider of the Year Payment Service Provider of the Year Responsible Gaming Award *NEW* Advisor of the Year Policymaker of the Year Regulator of the Year C-Suite Gaming Executive of the Year Key dates include: August 8, 2025: Nominations due August 26, 2025: Finalists announced October 6, 2025: Winners announced November 19, 2025: Invitation-only celebration For more information, please visit the official awards: About Group Limited Group Limited (Nasdaq: GAMB) (the 'Group') is a fast-growing provider of marketing and sports data services for the global online gambling industry. Founded in 2006, the Group operates globally, primarily from offices in the United States and Ireland. The Group helps online gambling operators, including for iGaming and sports betting, acquire new customers in 19 national markets across more than ten languages through a portfolio of premier branded websites including and Under OddsJam, OpticOdds and RotoWire brands, the Group's sports data services assist consumers and powers enterprises to succeed in sports betting and fantasy sports.
CNBC
18-06-2025
- Business
- CNBC
DraftKings CEO: Illinois' new tax on sports bets will drive players to illegal betting sites
Jason Robins, DraftKings CEO, joins CNBC's 'Squawk on the Street' to discuss Illinois' new tax on mobile and online sports wagers.
Business Upturn
13-06-2025
- Business
- Business Upturn
DraftKings to Introduce Transaction Fee in Illinois
BOSTON, June 12, 2025 (GLOBE NEWSWIRE) — In response to the recent and prior sports wagering tax increases passed by the Illinois state legislature on all mobile and online sports wagers placed with licensed operators, DraftKings Inc. (Nasdaq: DKNG) today announced that it will implement a 50-cent transaction fee on all mobile and online bets placed in Illinois through DraftKings Sportsbook, effective September 1, 2025. 'Illinois has been an important part of our growth, and we're proud to have contributed meaningfully to the state through tax revenue, job creation, and a sustained investment in responsible gaming tools and resources,' said Jason Robins, Chief Executive Officer and Co-Founder of DraftKings. 'We are disappointed that Illinois policymakers have chosen to more than triple our tax rate over the past two years, and we are very concerned about what this will do to the legal, regulated industry. Meanwhile, Illinois continues to fuel the rapidly growing illegal industry, which pays no taxes or fees and provides none of the consumer protections that regulated operators offer.' DraftKings continues to support collaborative policymaking that works for the state and allows for the long-term sustainability of the industry. Should the legislation be repealed, the company will immediately remove the Illinois-specific per wager transaction fee. About DraftKings DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings' mission is to make life more exciting by responsibly creating the world's favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings' daily fantasy sports product is available in 44 states, the District of Columbia, and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about the Company and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release, including statements regarding guidance, DraftKings' future results of operations or financial condition, strategic plans and focus, user growth and engagement, product initiatives, and the objectives and expectations of management for future operations (including launches in new jurisdictions and the expected timing thereof), are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as 'anticipate,' 'believe,' 'confident,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'going to,' 'intend,' 'may,' 'plan,' 'poised,' 'potential,' 'predict,' 'project,' 'propose,' 'should,' 'target,' 'will,' or 'would' or the negative of these words or other similar terms or expressions. DraftKings cautions you that the foregoing may not include all of the forward-looking statements made in this press release. You should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including the current macroeconomic environment, that it believes may affect its business, financial condition, results of operations, and prospects. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings' control and that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to, DraftKings' ability to manage growth; DraftKings' ability to execute its business plan and meet its projections; potential litigation involving DraftKings; changes in applicable laws or regulations, particularly with respect to gaming; general economic and market conditions impacting demand for DraftKings' products and services; economic and market conditions in the media, entertainment, gaming, and software industries in the markets in which DraftKings operates; market and global conditions and economic factors, as well as the potential impact of general economic conditions, and the potential impact of new and existing laws, regulations, or policies, including those relating to tariffs, import/export, or trade restrictions, inflation, rising interest rates and instability in the banking system, on DraftKings' liquidity, operations and personnel, as well as the risks, uncertainties, and other factors described in 'Risk Factors' in DraftKings' filings with the Securities and Exchange Commission (the 'SEC'), which are available on the SEC's website at Additional information will be made available in other filings that DraftKings makes from time to time with the SEC. The forward-looking statements contained herein are based on management's current expectations and beliefs and speak only as of the date hereof, and DraftKings makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law. Contacts Media: [email protected] @DraftKingsNews Investors: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
12-06-2025
- Business
- Yahoo
DraftKings to Introduce Transaction Fee in Illinois
BOSTON, June 12, 2025 (GLOBE NEWSWIRE) -- In response to the recent and prior sports wagering tax increases passed by the Illinois state legislature on all mobile and online sports wagers placed with licensed operators, DraftKings Inc. (Nasdaq: DKNG) today announced that it will implement a 50-cent transaction fee on all mobile and online bets placed in Illinois through DraftKings Sportsbook, effective September 1, 2025. 'Illinois has been an important part of our growth, and we're proud to have contributed meaningfully to the state through tax revenue, job creation, and a sustained investment in responsible gaming tools and resources,' said Jason Robins, Chief Executive Officer and Co-Founder of DraftKings. 'We are disappointed that Illinois policymakers have chosen to more than triple our tax rate over the past two years, and we are very concerned about what this will do to the legal, regulated industry. Meanwhile, Illinois continues to fuel the rapidly growing illegal industry, which pays no taxes or fees and provides none of the consumer protections that regulated operators offer.' DraftKings continues to support collaborative policymaking that works for the state and allows for the long-term sustainability of the industry. Should the legislation be repealed, the company will immediately remove the Illinois-specific per wager transaction fee. About DraftKingsDraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings' mission is to make life more exciting by responsibly creating the world's favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings' daily fantasy sports product is available in 44 states, the District of Columbia, and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games StatementsThis press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about the Company and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release, including statements regarding guidance, DraftKings' future results of operations or financial condition, strategic plans and focus, user growth and engagement, product initiatives, and the objectives and expectations of management for future operations (including launches in new jurisdictions and the expected timing thereof), are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as 'anticipate,' 'believe,' 'confident,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'going to,' 'intend,' 'may,' 'plan,' 'poised,' 'potential,' 'predict,' 'project,' 'propose,' 'should,' 'target,' 'will,' or 'would' or the negative of these words or other similar terms or expressions. DraftKings cautions you that the foregoing may not include all of the forward-looking statements made in this press should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including the current macroeconomic environment, that it believes may affect its business, financial condition, results of operations, and prospects. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings' control and that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to, DraftKings' ability to manage growth; DraftKings' ability to execute its business plan and meet its projections; potential litigation involving DraftKings; changes in applicable laws or regulations, particularly with respect to gaming; general economic and market conditions impacting demand for DraftKings' products and services; economic and market conditions in the media, entertainment, gaming, and software industries in the markets in which DraftKings operates; market and global conditions and economic factors, as well as the potential impact of general economic conditions, and the potential impact of new and existing laws, regulations, or policies, including those relating to tariffs, import/export, or trade restrictions, inflation, rising interest rates and instability in the banking system, on DraftKings' liquidity, operations and personnel, as well as the risks, uncertainties, and other factors described in 'Risk Factors' in DraftKings' filings with the Securities and Exchange Commission (the 'SEC'), which are available on the SEC's website at Additional information will be made available in other filings that DraftKings makes from time to time with the SEC. The forward-looking statements contained herein are based on management's current expectations and beliefs and speak only as of the date hereof, and DraftKings makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by in to access your portfolio
Yahoo
11-06-2025
- Business
- Yahoo
DKNG Q1 Earnings Call: Customer-Friendly Outcomes Drive Guidance Lower Despite Product Gains
Fantasy sports and betting company DraftKings (NASDAQ:DKNG) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 19.9% year on year to $1.41 billion. The company's full-year revenue guidance of $6.3 billion at the midpoint came in 1.1% below analysts' estimates. Its non-GAAP profit of $0.12 per share was in line with analysts' consensus estimates. Is now the time to buy DKNG? Find out in our full research report (it's free). Revenue: $1.41 billion vs analyst estimates of $1.46 billion (19.9% year-on-year growth, 3.4% miss) Adjusted EPS: $0.12 vs analyst estimates of $0.12 (in line) Adjusted EBITDA: $102.6 million vs analyst estimates of $98.92 million (7.3% margin, 3.8% beat) The company dropped its revenue guidance for the full year to $6.3 billion at the midpoint from $6.45 billion, a 2.3% decrease EBITDA guidance for the full year is $850 million at the midpoint, below analyst estimates of $910.4 million Operating Margin: -3.3%, up from -11.8% in the same quarter last year Monthly Unique Payers: 4.3 million, up 900,000 year on year Market Capitalization: $17.97 billion DraftKings' first quarter performance was shaped by a combination of increased product adoption and the impact of unpredictable sports outcomes. CEO Jason Robins explained that while product enhancements led to higher sportsbook hold percentages and more efficient promotional spending, customer-friendly results during March Madness significantly reduced actual hold relative to expectations. Robins emphasized, 'If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and adjusted EBITDA guidance.' The company also saw growth in live betting and improved efficiency in marketing, as recent acquisitions began to contribute positively to operational results. Looking forward, DraftKings' revised guidance reflects ongoing uncertainty around sports outcomes, evolving state tax and regulatory environments, and continued emphasis on product innovation. Management highlighted the company's commitment to optimizing promotional strategies and leveraging artificial intelligence (AI) to drive both revenue and operational efficiencies. CFO Alan Ellingson noted, 'We continue to expect sports book net revenue margin of 7% to 7.5% as we anticipate higher structural sports book hold percentage and increased promotional efficiency to offset the impacts from customer-friendly sports outcomes year-to-date.' The company expects to further integrate recent acquisitions and capitalize on advancements in live betting and AI-driven initiatives, while monitoring regulatory developments and market maturity across key states. Management attributed quarterly revenue growth and margin improvement to product-driven gains and promotional discipline, offset by unfavorable sports results and regulatory changes. Live betting acceleration: DraftKings saw a significant increase in live betting activity, with live handle surpassing 50% of total handle for the first time. This shift was attributed to recent product improvements and acquisitions, particularly in live betting technology, which management believes will continue to drive engagement and future growth. Product mix and parlay adoption: The company reported a higher mix of parlay bets, both among new and existing customers, contributing to increased sportsbook hold percentages. Management described this as a key lever for profitability and noted that customers continue using parlay products even after promotional incentives subside. Promotional spend optimization: DraftKings continued to reduce promotional reinvestments as a share of gross gaming revenue, reflecting the maturation of customer cohorts and more targeted marketing strategies. Management expects this trend to persist as newer states mature and the customer base becomes less reliant on promotions. AI integration and operational efficiency: The company has expanded its use of AI across business functions, improving both customer service and internal productivity. Management highlighted cost reductions and efficiency gains, with CEO Robins describing AI adoption as a "company-wide movement" that is reshaping how teams approach operational challenges. Regulatory and tax headwinds: Increases in state tax rates, such as in Maryland, and the exit of Jackpocket operations in certain markets negatively affected quarterly results. DraftKings is closely monitoring regulatory risks as states consider new taxes or changes that could impact profitability and competitive dynamics. DraftKings expects future performance to be driven by product innovation, operational efficiency, and market responses to regulatory and sports outcome variability. Expansion of live and in-play betting: Management believes growth in live betting, driven by technology investments and improved user experiences, will be a major contributor to handle and revenue. The company is targeting continued increases in live handle mix, inspired by higher adoption rates in more mature international markets. AI-driven operational gains: DraftKings is scaling its use of AI to enhance both customer-facing products and internal operations, aiming for efficiency improvements in areas such as customer service and risk management. Management expects these initiatives to reduce costs and support margin expansion, while also informing product development and betting models. Regulatory and tax environment: The company anticipates ongoing headwinds from state tax rate increases and evolving regulatory requirements. Management is focused on mitigating these impacts through product optimization, cost control, and advocacy to ensure a favorable operating landscape, while recognizing the risk of further tax changes and competition from illegal markets. In upcoming quarters, the StockStory team will be watching (1) the continued growth and profitability of live and in-play betting, (2) the impact of AI-driven operational efficiencies on margins and customer experience, and (3) the company's ability to navigate regulatory and tax changes across key states. Progress in integrating recent acquisitions and expanding new product offerings will also be important indicators of execution. DraftKings currently trades at a forward P/E ratio of 22.2×. Should you double down or take your chips? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
