{"id":1066,"date":"2024-01-09T11:11:45","date_gmt":"2024-01-09T08:11:45","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-q4-results-could-be-pinched-by-rough-november\/"},"modified":"2024-01-09T11:11:45","modified_gmt":"2024-01-09T08:11:45","slug":"draftkings-q4-results-could-be-pinched-by-rough-november","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/ja\/draftkings-q4-results-could-be-pinched-by-rough-november\/","title":{"rendered":"DraftKings Q4 Results Could Be Pinched by Rough November"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">\u76ee\u6b21<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/ja\/draftkings-q4-results-could-be-pinched-by-rough-november\/#DraftKings_2024_Outlook_Remains_Strong\" title=\"DraftKings 2024 Outlook Remains Strong\">DraftKings 2024 Outlook Remains Strong<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/ja\/draftkings-q4-results-could-be-pinched-by-rough-november\/#Competition_Comments_Could_Be_Key\" title=\"Competition Comments Could Be Key\">Competition Comments Could Be Key<\/a><\/li><\/ul><\/nav><\/div>\n<p>A strong November by U.S. sports bettors could weigh on DraftKings\u2019 (NASDAQ: DKNG) fourth-quarter results, according to Benchmark analyst Mike Hickey.<\/p>\n<figure aria-describedby=\"caption-attachment-260470\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" fetchpriority=\"high\" class=\"wp-image-260470 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-858x572.jpg\" alt=\"DraftKings\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/DKNG2-194x128.jpg 194w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">Employees at DraftKings headquarters. An analyst said the operator\u2019s fourth-quarter results could be hampered by reduced hold in November. (Image:<em> CNBC<\/em>)<\/figcaption><\/figure>\n<p>In a note to clients today, Hickey wrote that favorable results for bettors in the 11th month of the year may have sapped DraftKings\u2019 hold percentage by 150 basis points (1.5%). If accurate, that reduced hold rate could weigh on the operator\u2019s fourth-quarter revenue and adjusted earnings before, interest, taxes, depreciation, and amortization (EBITDA) by $50 million and $35 million, respectively.<\/p>\n<div class=\"callout\">\n<p>The analyst based that assumption on DraftKings\u2019 guidance calling for 2023 EBITDA loss of $105 million on revenue of $3.695 billion, <a href=\"https:\/\/www.casino.org\/news\/draftkings-boosts-2023-outlook-unveils-strong-2024-guidance\/\" rel=\"nofollow noopener\" target=\"_blank\">which was issued last November<\/a>. While December data isn\u2019t fully available, Hickey added that DraftKings\u2019 hold percentage likely normalized in the 9% range in the last month of 2023, indicating November was probably an anomaly.<\/p>\n<\/div>\n<p>He rates shares of the sportsbook operator \u201cbuy,\u201d with a $41 price target, which implies upside of about 24% from today\u2019s close.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DraftKings_2024_Outlook_Remains_Strong\"><\/span>DraftKings 2024 Outlook Remains Strong<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The gaming company is scheduled to deliver results for the October through December period on Feb. 15 after the close of U.S. markets. It <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-jumps-on-bullish-investor-day-guidance\/\" rel=\"nofollow noopener\" target=\"_blank\">has a knack for lifting<\/a> top and bottom line forecasts when it delivers quarterly results \u2013 something analysts and investors will likely be watching for next month.<\/p>\n<div class=\"callout\">\n<p>Boston-based DraftKings forecasts a positive 2024 EBITDA of $350 million to $450 million on sales of $4.5 billion to $4.8 billion. That implies the gaming company could be profitable on an EBITDA basis for most \u2014 if not all \u2014 of 2024, while easily shattering topline records.<\/p>\n<\/div>\n<p><strong>For 2025, the online sportsbook operator said it expects revenue in the mid-$5 billion range on adjusted EBITDA of $900 million, with those figures growing to $6.2 billion and $1.4 billion, respectively, the following year. In 2028, the operator expects to notch sales of $7.1 billion on EBITDA of $2.1 billion.<\/strong><\/p>\n<p>There may be some burden on DraftKings to deliver the goods in terms of upped guidance, because after the stock more than tripled last year, it shed 7.50% this week, as investors booked profits in the previously high-flying shares.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Competition_Comments_Could_Be_Key\"><\/span>Competition Comments Could Be Key<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With the reduced November hold percentage in the rearview mirror, one of the other issues analysts and investors are apt to focus on with regards to DraftKings is the operator\u2019s ability to retain and grow market share amid a flurry of new competition in the sports wagering space.<\/p>\n<p><strong>Data indicates ESPN Bet and Fanatics are off to solid starts in the states in which they\u2019re offering online sports wagering. But the numbers also confirm incumbents such as DraftKings and FanDuel aren\u2019t yet feeling much pressure from new rivals.<\/strong><\/p>\n<p>That <a href=\"https:\/\/www.casino.org\/news\/draftkings-holding-strong-in-face-of-new-sportsbook-rivals\/\" rel=\"nofollow noopener\" target=\"_blank\">sentiment has been echoed<\/a> by DraftKings, which said it welcomes new competitors, and sees that as a sign of a growing, maturing industry.<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/draftkings-lower-november-hold-could-crimp-q4-results\/\" rel=\"nofollow noopener\" target=\"_blank\">DraftKings Q4 Results Could Be Pinched by Rough November<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>A strong November by U.S. sports bettors could weigh on DraftKings\u2019 (NASDAQ: DKNG) fourth-quarter results, according to Benchmark analyst Mike Hickey. Employees at DraftKings headquarters. An analyst said the operator\u2019s fourth-quarter results could be hampered by reduced hold in November. (Image: CNBC) In a note to clients today, Hickey wrote that favorable results for bettors in the 11th month of the year may have sapped DraftKings\u2019 hold percentage by 150 basis points (1.5%). If accurate, that reduced hold rate could weigh on the operator\u2019s fourth-quarter revenue and adjusted earnings before, interest, taxes, depreciation, and amortization (EBITDA) by $50 million and $35 million, respectively. The analyst based that assumption on DraftKings\u2019 <a href=\"https:\/\/xxbet-company.com\/ja\/draftkings-q4-results-could-be-pinched-by-rough-november\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/1066"}],"collection":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/comments?post=1066"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/posts\/1066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media\/1067"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/media?parent=1066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/categories?post=1066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/ja\/wp-json\/wp\/v2\/tags?post=1066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}