DraftKings Reloads Marketing War Chest, Seeks Tribal Partnerships

  • DraftKings to raise $1bn through stock offering
  • Third-quarter revenue up sharply with sports return 
  • CEO Jason Robins urges tribes to embrace sports betting

DraftKings is continuing to reload its war chest with another stock offering to raise almost $1bn after a third quarter that required a $200m marketing spend.

The company announced a stock offering on Monday, its second offering since the Boston-based company went public in April. The decision to sell shares follows recent stock sales by Penn National Gaming and Caesars Entertainment, similarly geared to raising capital to pursue the sports-betting market.

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