Draft Kings on Pace for Worst Drop on Record.  Ebitda Loss Guidance 'Disappointing,' Analyst Says.


stock was slipping Friday even while the organization raised its financial forecasts for 2022. A JP Morgan analyst explained the athletics betting enterprise is lagging behind its peers on its route to profitability.


(ticker: DKNG) stated it now expects revenue for the calendar year to be in the assortment of $2.16 billion to $2.19 billion, up from its former contact for among $2.08 billion and $2.18 billion. The sports betting business also modified its forecast for altered earnings prior to interest, taxes, depreciation, and amortization to place to a narrower loss of involving $800 million and $780 million, as opposed with its prior simply call for a decline of involving $835 million and $765 million.

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