Ahead of the 2025 NFL season, gambling stocks, like DraftKings (SYM: DKNG) are exploding.
Just as it did in 2024.
A year ago, the American Gaming Association said Americans were expected to spend about $35 billion on NFL games this year. That’s up from the $26.7 billion wagered a year prior.
At the time, as noted by CBS Sports, “The NFL remains king, and more money is wagered on the NFL than any other league. The NFL also attracts six-figure wages (and sometimes seven-figure wagers) on a regular basis throughout the season.”
From its August 2024 low of $31.26, DKNG ran to a high of about $45.72.
Even better, recent earnings weren’t too shabby either.
In fact, DKNG just posted better-than-expected earnings, and reiterated its full-year outlook. Its EPS of 38 cents did miss by three cents. However, revenue of $1.51 billion, up 37.3% year over year, beast by $80 million.
“We set records for revenue, net income and adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year,” said CEO Jason Robins. “We are pleased to be maintaining our fiscal year 2025 guidance, with revenue expected to be closer to the high end of our range, highlighting the strength of our platform as we prepare for an exciting new state launch.”
Sincerely,
Ian Cooper
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