DraftKings Boosts Full-Year Revenue, Earnings Forecasts
- Gambling company plans launch in Canada in second quarter
- Outlook is encouraging, but losses ‘significant,’ analyst says
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DraftKings Inc. raised its revenue and earnings expectations for the year, while a planned launch in Canada is poised to give the online gambling company an additional boost.
Sales this year will be $1.93 billion to $2.03 billion, up from a prior expectation as low as $1.85 billion, according to a statement Friday detailing first-quarter results. The midpoint of the new range is above Wall Street’s expectation and implies as much as 56% growth over the prior year.