DraftKings Investor Day Presentation Deck
I
Increasing long-term Adjusted EBITDA estimate to $1.7B
($ in billions)
At 64% of Canada
Population
Legalized
At 30% of U.S.
Population
Legalized
At 65% of U.S.
Population
Legalized
●
●
Canada(2) Other(¹)
●
iGaming (3)
Online Sports Book(4)
DFS
$5.4
$ 0.2
$0.4
$1.6
$ 2.8
$ 0.4
$(2.4)
$3.0
$(0.5)
$2.5
$(1.1)
Net Revenue
COGS
Gross Profit
External Marketing
Contribution Profit
Assumes 65% of U.S. population has live OSB and 30% of U.S. population has live iGaming, and then rolls forward 5 years to "maturity"
Assumes DKNG has 25% and 17.5% market share in U.S. OSB and U.S. iGaming, respectively
• Assumes 64% of Canada population legalizes OSB and iGaming and DKNG achieves 15% share across OSB and iGaming; 50% flow through of DKNG's Canada net revenue to EBITDA
SG&A at scale in most functions; will continue to invest in product & technology functions to drive differentiated user experience
Only includes existing product verticals
Note: Figures may not foot due to rounding.
(1) Includes B2B, media, and retail revenue streams.
(2) Assumes 64% of Canadian population has access to legalized OSB and iGaming with DraftKings achieving 15% market share. Net of promotional allowances (22% of gross revenues).
(3) Assumes 30% of U.S. population has access to legalized iGaming with DraftKings achieving 17.5% market share. Net of promotional allowances (22% of gross revenues).
(4)
Assumes 65% of U.S. population has access to legalized sports betting with DraftKings achieving 25% market share. Net of promotional allowances (22% of gross revenues).
(5)
Based on bottoms up build from internal management plan, analyzing fixed vs. variable vs. semi-variable cost centers. SG&A includes compensation and non-compensation costs for Sales & Marketing, Product & Technology, and G&A expenses.
$0.2
SG&A (5)
$1.7
Synergies
Adjusted EBITDA
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