DraftKings Investor Day Presentation Deck
Adj. Gross Margin Rate
Adj. Gross Margin Rate(¹) increases as states mature
Adj. Gross Margin Rate by State Vintage
2020A
2021A
2022A
2023E
34%
37%
41%
46%
12%
28%
43%
48%
2018-2019 State Vintage (²)
2020-2021 State Vintage (3)
(1) Non-GAAP financial measure. Refer to the Financial Reconciliations section of this presentation for a reconciliation of historical results. Golden Nugget Online Gaming is included from acquisition date (May 5, 2022).
(2) Includes OSB and iGaming operations in New Jersey, West Virginia, Indiana, Pennsylvania, and New Hampshire. The 5 states represent 10% of the U.S. population.
(3) Includes OSB and iGaming operations in lowa, Colorado, Illinois, Tennessee, Michigan, Virginia, Wyoming, Arizona, and Connecticut. The 9 states represent 18% of the U.S. population.
(4) Includes OSB and iGaming operations in Oregon, New York, Louisiana, Ontario, Kansas, Maryland, Ohio, Massachusetts, Kentucky, and Maine. The 9 states (excluding Ontario) represent 19% of the U.S. population.
4%
2022-2023 State Vintage (4)
30%
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