DraftKings posts big loss but revenue soared despite lack of live sports
Gamblers are still betting on plenty of other events, such as virtual NASCAR races and esports tournaments, DraftKings said.
The betting and fantasy sports site has also launched free contests centered around pop culture and news events such as this year’s Democratic presidential debates and popular reality TV shows like “Survivor” and” “Top Chef” to keep users engaged.
The company said in the earnings release that it did not anticipate that the coronavirus outbreak would impact its financial results in 2021 or change its long-term plans.
The Masters golf tournament, for example, has been rescheduled to November from April, while the Kentucky Derby, originally planned for May, will take place in September.
DraftKings is also rolling out other features beyond sports betting and fantasy sports leagues. The company just launched online casino games for customers in Pennsylvania, including virtual blackjack, roulette and slot machines.