DraftKings Gains on Higher 2021 Forecast, Strong Revenue
- Multiple external factors went well, CEO Jason Robins says
- Company beat revenue estimates for third time since IPO
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DraftKings Inc. gained as much as 8.4% Friday after boosting its revenue expectations for the year, another signal that sports betting isn’t slowing down.
The online gambling company expects $900 million to $1 billion in revenue for 2021, up from $750 million to $850 million. The raised guidance topped Wall Street expectations for $863 million and implies 40% to 55% growth compared with the year prior.