DraftKings Fourth Quarter Earnings Report will be released on Friday and sales figures increases are expected to show that the brand is one of the top two in America for legal sports betting.
It is expected that there will be an announcement of an increase of around 75% in sales from the third to the fourth quarter of 2020 and that equates roughly to revenue of $233.3 million, up from $130 million in Q3.
The $DKNG stock has risen in value by almost 230% since going public in April and as one of the market leaders in legal online gambling in America, it is a popular pick at the moment. Strong sales figures will no doubt cement that position.
Macquarie analyst Chad Benyon, who has made DraftKings his number one online gambling pick, said on Tuesday:
“As our top pick in online gaming, we continue to believe that DKNG has all the right tools to maintain its position as a clear top 2 player—strong brand, pristine balance sheet, proprietary tech, data science and retention tools, league/team sponsorships, and media partnerships,” he wrote.