1038 ET - DraftKings raised its 2025 revenue guidance by $50 million at the midpoint, a lift largely attributed to investments in the company's live betting operations, Benchmark analyst Mike Hickey says in a research note. Part of that investment was its acquisition of Simplebet, which is expected to enhance its live-betting capabilities and product offerings, the analyst says. Simplebet's technology is expected to boost DraftKings's parlay handle mix and structural sportsbook hold percentage, or the cut of money it makes after paying out winning bets, the analyst says. DraftKings surges 14%.(dean.seal@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 10:38 ET (15:38 GMT)
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