Wall Street is enthusiastic<\/a> about DraftKings is the growth of internet casinos and online sports betting. The operator is obliging, saying its online sports wagering handle for the September quarter surged 460 percent year-over-year, while its iGaming handle jumped 335 percent.<\/p>\nHowever, the company warned its third-quarter results may not be directly comparable with future periods due to the unusual sports schedule forced by the coronavirus pandemic.<\/p>\n
\u201cThe unique sports calendar, with overlapping seasons for all four major US sports during a portion of the three months ended September 30, 2020, has also favorably impacted our handle in a manner that may not be representative of our performance in other periods,\u201d <\/strong>said DraftKings in the regulatory filing.<\/p>\n","protected":false},"excerpt":{"rendered":"DraftKings (NASDAQ:DKNG) stock is tumbling Monday after the daily fantasy sports (DFS) provider said it’s selling 32 million shares of equity to raise capital, and that it expects third-quarter revenue of $131 million to $133 million. The company said sales increased 97 percent year-over-year, or 41 percent on a pro forma basis, assuming the midpoint […]<\/p>\n","protected":false},"author":46,"featured_media":151121,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
DraftKings Q3 Revenue Forecast Decent, Share Sale Coming<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n