{"id":314506,"date":"2024-03-18T17:34:30","date_gmt":"2024-03-18T22:34:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=314506"},"modified":"2024-03-19T10:38:07","modified_gmt":"2024-03-19T15:38:07","slug":"draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/","title":{"rendered":"DraftKings CFO Jason Park Transitions to New Role, Alan Ellingson Takes Over"},"content":{"rendered":"

DraftKings (NASDAQ: DKNG) announced Monday that CFO Jason Park is moving to another role within the gaming company. Senior Vice President of Finance and Analytics Alan Ellingson will assume the top financial job at the firm on May 1.<\/p>\n

\"Jason
Soon-to-be former DraftKings CFO Jason Park. He’s moving to a new role within the gaming company. (Image: Gary Higgins\/The Boston Business Journal<\/em>)<\/figcaption><\/figure>\n

Park joined Boston-based DraftKings as chief financial officer in June 2019. He lead financial operations at the gaming company through the 2019 reverse merger<\/a> with special purpose acquisition company (SPAC) Diamond Eagle Acquisition Corp. That paved the way for the sports betting giant to become a standalone publicly traded entity in April 2020.<\/p>\n

Park was also instrumental in helping DraftKings turn the corner from a money loser to a profitable company known for consistently upping<\/a> revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) forecasts.<\/p>\n

During his tenure as Chief Financial Officer, DraftKings\u2019 revenue grew from $323 million in 2019 to $3,665 million in 2023. The Company also produced positive Adjusted EBITDA in the second and fourth quarters of 2023 due in part to Mr. Park\u2019s leadership of operational efficiency programs,\u201d<\/strong> according to a statement issued by the gaming company.<\/p><\/blockquote>\n

During Park\u2019s tenure, DraftKings stock has been turbulent, running from around $10 soon after the SPAC deal was announced to north of $74 in March 2021, before sliding below $10 at one point in May 2022. The shares have since more than quadrupled and the stock\u2019s overall performance with Park as CFO is impressive at a gain of 325% as of March 15.<\/p>\n

Park\u2019s New Role at DraftKings<\/h2>\n

In his new gig at DraftKings, Park will hold the title of chief transformation officer.<\/p>\n

\n

CEO and cofounder Jason Robins said in that role, Park will be responsible for unlocking value tied to the operator\u2019s recently announced acquisition of online lottery provider Jackpocket. He will also address possible benefits for the gaming company in the world of artificial intelligence (AI).<\/a><\/p>\n<\/div>\n

\u201cThere are also potentially transformational AI applications on the horizon that could change the way businesses operate and serve their customers to create potential long-term advantages,\u201d said Robins in the statement.<\/p>\n

Park noted that more information on the transition will be provided on DraftKings\u2019 next earnings conference call. Based on previous reporting patterns, it\u2019s estimated the gaming company will deliver first-quarter results on May 2.<\/p>\n

Ellingson’s Resume<\/h2>\n

Ellingson has been with DraftKings since 2020, and has spent much of that time working closely with Park, indicating his promotion to CFO is practical, and potentially seamless for the operator. Some of his previous duties included \u201cbuilding the forecasting capabilities that support the creation, tracking, and ongoing refresh of the company\u2019s multi-year financial objectives.\u201d<\/p>\n

\u201cAlan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value,\u201d noted Robins in the press release.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings (NASDAQ: DKNG) announced Monday that CFO Jason Park is moving to another role within the gaming company. Senior Vice President of Finance and Analytics Alan Ellingson will assume the top financial job at the firm on May 1. Park joined Boston-based DraftKings as chief financial officer in June 2019. He lead financial operations at […]<\/p>\n","protected":false},"author":46,"featured_media":314507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[81903,81871,80968],"acf":[],"yoast_head":"\nDraftKings CFO Jason Park Moving To New Role At Gaming Firm<\/title>\n<meta name=\"description\" content=\"DraftKings CFO Park Moving to New Role, Alan Ellingson Taking Job.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings CFO Jason Park Moving To New Role At Gaming Firm\" \/>\n<meta property=\"og:description\" content=\"DraftKings CFO Park Moving to New Role, Alan Ellingson Taking Job.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-18T22:34:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-19T15:38:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/JP2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"506\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/\",\"name\":\"DraftKings CFO Jason Park Moving To New Role At Gaming Firm\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/JP2.jpg\",\"datePublished\":\"2024-03-18T22:34:30+00:00\",\"dateModified\":\"2024-03-19T15:38:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings CFO Park Moving to New Role, Alan Ellingson Taking Job.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-cfo-jason-park-moving-to-new-role-at-gaming-firm\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/JP2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/JP2.jpg\",\"width\":900,\"height\":506,\"caption\":\"Soon-to-be former DraftKings CFO Jason Park. 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