A leading fantasy sports and sports betting company has been honored with the “Heavy Hitter” award from Benzinga, in the first ever Titans Sports Betting conference.
What’s A Heavy Hitter? The Heavy Hitter award is reserved for companies who’ve demonstrated material market share gains, competitive advantages and strategic acclaim. A jury evaluated key criteria including financials, innovative spirit, M&A and compliance.
The Decision: DraftKings DKNG was selected for its leadership in fantasy sports, betting and iGaming across the United States and other territories.
In the first quarter of 2023, revenue rose 84% from the year-ago period, reaching $770 million. That is up from the $133 million reported in its first quarter as a publicly traded company following its SPAC merger with Diamond Eagle Acquisition and SBTech.
In addition to top-line growth, DraftKings may now reach more than 50% of the fantasy football player market, according to some industry data.
DraftKings also demonstrated a penchant for innovation, by reportedly expanding into the video-streaming marketplace and non-fungible tokens.
Benzinga congratulates the DraftKings team and their efforts in transforming the market in the 21 states in which it offers sports betting and five states in which it operates iGaming.
Read Next: DraftKings Q1 Earnings Highlights: Revenue And EPS Beat, Guidance Raised And More
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
