- DraftKings adds $133m in Q3 revenue, but posts $348m loss
- Company spends record $203m on marketing in quarter
- Illinois already second largest market behind New Jersey
Buoyed by a one-of-a-kind sporting calendar that included the return to play of major American sports, DraftKings continued playing offense in the battle to capture sports-betting market share by spending over $203m on marketing in the third quarter.
The company reported $133m in third-quarter revenues on Friday, a 98 percent increase year-on-year, albeit with the caveat that this year’s quarter included NBA and NHL playoffs, in addition to pent-up player demand following a spring and early summer without major professional sports in the U.S.
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