DraftKings CEO: Investors will not be concerned by short-term losses

DraftKings CEO Jason Robins has played down the company’s recent financial losses as it prepares for its IPO.

The operator recently announced year-on-year revenue growth of 44% for the first nine months of 2019, to $191.1m, although this was countered by net losses of $114.1m, up 52%.

However, as DraftKings looks ahead to its IPO, following the acquisition of SBTech via acquisition firm Diamond Eagle Acquisition, its CEO says investors are more interested in long-term financials.

Speaking to Sports Handle, Robins said: “For investors who have convictions in the industry, they don’t get too hung up on what happens this quarter or even next year.

“If you have conviction and believe in the ultimate market, you’ll be patient as it unfolds.

“Those are the types of investors we want because it takes some of that volatility out of the equation.”

Tim Poole

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