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In its recent earnings call, DraftKings, headquartered in Boston, disclosed sales of $770 million in the first quarter of 2025. Based on these latest results, analysts at DraftKings have projected a revenue of $3.20 billion for the year 2025.
DraftKings’ sportsbook, now available in Massachusetts, serves as a significant influential element for the company.
On March 10, sports betting began in Massachusetts with DraftKings Sportsbook being among the six online operators in the state.
DraftKings’ focus on advertising
DraftKings has actively embraced national advertising in recent months, with a particular focus on the NFL season.
During the earnings call, Jason Robins, the CEO and co-founder of DraftKings, mentioned that Ohio, Maryland, and Massachusetts witnessed nationwide advertising consistently throughout the year, including the entire duration of the NFL season.
Nevertheless, Robins highlighted that DraftKings, being headquartered in Boston, made a deliberate effort to cater to the local market.
Robins stated that the only modification made to our strategy was emphasizing that we are a local company, which is a distinctive trait in this area. He believes that people in New England have a strong affinity for supporting local businesses, so this approach worked well in capturing the market’s interest.
A significant aspect of the effort involved incorporating commercials with a local focus. An illustration of this is DraftKings’ decision to feature Boston icons Lenny Clarke, David Ortiz, Zdeno Chara, and Brian Scalabrine in a “Bet Local” commercial, which started airing in Massachusetts on March 10. This commercial has proven to be successful thus far.
DraftKings was top MA sportsbook in March
The revenue reported stands at $770 million, surpassing the consensus estimate of approximately $705 million by 9.9%. Furthermore, the company’s stock price has risen by 12% to reach $24.58, experiencing an impressive growth of 92% since the beginning of this year.
DraftKings, originally established in Massachusetts, is experiencing a robust year with a significant surge in revenue.
DraftKings wasted no time in seizing the opportunity when sports betting was introduced in Massachusetts earlier this year. Within the initial month of online sports betting in MA, DraftKings emerged as the market leader, raking in an impressive $257.6 million in handle, which accounted for a substantial 47% market share.
FanDuel, the main rival, came in a close second with a handle of $181.1 million, which accounted for 33% of the market. Collectively, the six online sportsbooks in Massachusetts reported a total betting handle of $548.1 million.
DraftKings Massachusetts generated $15.6 million in revenue during the initial month of March (from March 10 to March 31).
That may only be the beginning.
Robins mentioned that despite Massachusetts not having any football games yet, there is likely a considerable audience waiting.
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