DraftKings CEO hints at international expansion although focus will remain on “tremendous” US market

Jason Robins suggests Boston-headquartered operator’s product is “very portable” amid global market upside  

DraftKings CEO Jason Robins has refused to rule out an international expansion of the DraftKings brand, but asserted he would never do so at the expense of the “tremendous opportunity” in the US market.

Robins spoke as part of DraftKings Q3 2023 financial earnings call, in which the firm reported a 57% year-on-year (YoY) upward spike in its revenue for the period to $790m.

The firm was also recently crowned US market leader in terms of gross gaming revenue by gaming analysts Eilers & Krejcik Gaming, edging out longtime rival FanDuel.

The DraftKings CEO was asked in the light of regulatory changes in certain markets and a perceived settling of the international environment, would DraftKings look to expand beyond the US.

“We obviously are aware of the global gaming market and I think long term, there’s a lot of upside for us there.

“We believe that the product and technology investments and other operational infrastructure [and] marketing infrastructure we’re building will be very portable throughout the globe,” Robins answered.

“That said, we also understand that the largest market in the world is developing right now, and we’re in a really strong position. A lot of what we feel has helped us and benefited us has been our singular focus here, so that’s something that we’re very cognizant of,” Robins added.

DraftKings is legal in several European countries, including the United Kingdom, Ireland, Germany, France, Spain, Italy, Sweden, Denmark, Finland, and Norway. 

The firm also operates in Canada and has also relaunched operations in Australia earlier this year after a two-year hiatus.

This international expansion, however, pales in comparison when compared to the company’s US operations.

DraftKings longtime international strategic tsar, Jeffrey Haas, left the firm in May 2022 after eight years in which the firm’s international growth was largely confined to DFS expansion only.

In January, DraftKings pulled its fantasy products from four European jurisdictions; Austria, Germany, Ireland and Malta, ostensibly out of a desire to redirect that focus to the US.

However, for Robins, international expansion will always be a side note to the firm’s US operations, with the DraftKings CEO keen to ensure that this status quo remains so.

“As we think about longer-term opportunities, it’s really important that we always keep that in mind and continue to make sure that the focus is here,” Robins told analysts.

“If we can figure out over time how to find other ways to capitalize on the global opportunity, we will, but certainly would never do so at the expense of our focus in the US, which we think is the tremendous opportunity in front of us.

“I think a lot of what’s benefited us is having that focus and we don’t want to give that up easily,” he added.

 

​EGR Intel

Read More

​ 

You May Also Like