The leading North American sports betting and iGaming operator, DraftKings, released its latest financial report. On Thursday, the company disclosed details regarding its performance for the fourth quarter and fiscal year 2023, highlighting a significant increase in revenue.

DraftKings’ latest unaudited report reveals that its revenue for 2023 hit $3.67 billion. This result, compared to the $2.24 billion figure posted for the fiscal 2022 shows an increase of nearly 64% year-over-year.

Besides year-over-year, the company posted exceptional results during the fourth quarter as well. In Q4 2023, DraftKings’ revenue soared to $1.23 billion. A comparison to the $855 million reported for the same period in 2022 shows an increase of $376 million or 44%.

The company explained that the result comes after a “continued healthy customer engagement, efficient acquisition of new customers, the expansion of the Company’s Sportsbook product offering into new jurisdictions, and product innovation leading to increased parlay mix and thus higher structural sportsbook hold percentage.”

The fourth quarter marked an uptick in the number of monthly unique players (MUPs). The latest trading update reveals that DraftKings’ MUPs in Q4 increased by 37% year-over-year to 3.5 million. DraftKings said that this uptick highlights strong customer retention and acquisition rates for its iGaming and sportsbook products. Moreover, the company acknowledged that its expansion into new jurisdictions positively impacted the number of MUPs.

The Company Ends 2023 with Excellent Results

Jason Park, DraftKings’ chief financial officer, revealed that the latest results underline the company’s ongoing commitment to implementing operating efficiencies and delivering strong revenue growth. In light of the exceptional performance for the fourth quarter and the first six weeks of 2024, he confirmed that the company updated its revenue guidance.

Park explained: “We are raising the midpoint of our fiscal year 2024 revenue guidance range to $4.775 billion from $4.65 billion and the midpoint of our fiscal year 2024 Adjusted EBITDA guidance range to $460 million from $400 million.” Finally, the chief financial officer said DraftKings anticipates 2024 will be its first full year of positive adjusted EBITDA.

“DraftKings ended 2023 with excellent performance across customer acquisition, retention and engagement as well as structural sportsbook hold percentage despite the worst stretch of sport outcomes we have seen as a public company in the fourth quarter.“

Jason Robins, CEO at DraftKings

Jason Robins, DraftKings’ CEO, also highlighted the strong results posted by the company for the last quarter of 2023. He said that despite challenges related to the outcome of sports events, DraftKings demonstrated strong customer engagement and retention. Focusing on 2024, Robins predicted that the company would keep the focus on its customers while growing the reach of its products and delivering supreme services.

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The business-to-business (B2B) iGaming technology provider, EveryMatrix, released its second quarter results, posting the seventh consecutive record quarter with an increase in profit margin and revenue. The latest financial update reveals that the company’s net revenue in Q2 this year hit €27 million ($29.4 million), marking a year-over-year growth of 82%.

Similarly, EveryMatrix’s EBITDA for the second quarter of this year soared. Judging by the recent trading update, the company posted an EBITDA of €15 million ($16.3 million). This result, when compared to the corresponding period in 2022 marked an increase of 188%.

The results represented not only an increase year-over-year but quarter-on-quarter as well. The revenue posted for the latest trading period was up 15% quarter-on-quarter while EBITDA for the second quarter increased by 42% when compared to Q1 2023.

EveryMatrix revealed that during the record-breaking quarter, all of its business segments saw exceptional results and growth. This includes its Casino, Sports and Platform, reaffirming their success, potential and growing position within the global gambling sector.

A breakdown provided by EveryMatrix revealed that its Casino net revenue in Q2 this year hit €12.6 million ($13.7 million), up by 83% when compared to the same period last year. Similarly, the company’s Platform business saw a year-over-year net revenue increase of 85%. Additionally, EveryMatrix’s Sports business arm posted gross gaming revenue of €57 million ($62.1 million), an increase of 137% year-over-year.

The Latest Results Bring Excitement to EveryMatrix

Besides the financial results, the company highlighted multiple important achievements completed in Q2 2023. During the latest trading period, EveryMatrix signed 26 new contracts within eight regulated gambling markets. Its LotteryEngine solution has gone live with its first partner, the Malta National Lottery.

Moreover, EveryMatrix expanded its portfolio of partners with more than 50 new clients under the acquisition of DeepCI. During the second quarter of this year, the company has also gone live with WynnBet and DraftKings in the United States, among other important achievements and milestones.

“This business, and our team of more than 750 people across 12 countries, continue to amaze me every day generating consistent, record growth and profitability for our customers who continue to benefit from the industry’s best casino, sports, and platform products.“

Ebbe Groes, Group CEO of EveryMatrix

Ebbe Groes, EveryMatrix’s Group CEO, spoke about the dedication and consistent efforts of the company’s growing team of experts that helped it achieve another record quarter. He highlighted the importance of EveryMatrix’s partners that leverage its engaging betting, casino and platform products.

Groes added that an important goal for the company is to deliver quality services and solutions, powering the growth of its partners. Finally, he predicted further growth and expansion for EveryMatrix.

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