DraftKings Investor Day Presentation Deck
NJ is an appropriate extrapolation point given its gross revenue per adult compared to
other states
OSB Gross Revenue Per Adult - First Consecutive September to December
(Four Months of Gross Revenue Per Adult)
Gross Revenue /
Adult as % of NJ
NJ Adj. Gross
Revenue / Adult(¹)
Adj. Gross Revenue /
Adult as % of NJ
●
●
●
●
$7.27
NJ
100%
$7.27
100%
$3.26
WV
45%
$5.10
70%
$12.00
IN
165%
$15.11
208%
$5.90
PA
81%
$6.67
92%
$12.30
NH
169%
$13.72
189%
$13.85
IA (3)
190%
$15.98
220%
$12.16
со
167%
$12.41
171%
$11.43
IL
157%
$11.78
162%
$20.75
Source: State Gaming Data; U.S. Census Bureau; U.S. Bureau of Economic Analysis
Note: Slight discrepancies compared to 2021 Investor Day disclosures are due to reliance upon more recent Census Bureau and U.S. Bureau of Economic Analysis data.
(1) Adjusted Gross Revenue /Adult for GDP per adult in each state relative to that of NJ.
(2) AZ Gross Revenue / adult for October and November 2021 combined was $15.13, while NJ gross revenue / adult for October and November 2018 was $3.35.
(3) lowa's results reflect September to December 2021 due to the fact mobile registration began in the state in January 2021. Gross Revenue / Adult for September to December 2019 was $3.38, or $3.90 adjusted for relative GDP per adult.
TN
285%
$27.24
374%
$17.45
Non-NJ Gross Revenue / Adult = $13.02
NJ Gross Revenue / Adult = $7.27
MI
240%
$23.59
$21.12
324%
We benchmarked Gross Revenue per adult for the first September through December for the 10 states in which DraftKings' brand had launched prior to September 2021
Used September to December to control for seasonality of sports calendars and different launch dates
Eight of the ten states were larger than NJ on a Gross Revenue per Adult basis during this period, each by more than 50%
AZ, which launched in September 2021, outperformed NJ in its first full October and November by 351% on a Gross Revenue per Adult basis(2)
VA
290%
$23.40
322%
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