Today's video focuses on DraftKings (DKNG 0.71%) and an update on its earnings reported on Nov. 5 before the market opened. Here are some highlights from the video. 

  1. DraftKings' third-quarter revenue was $213 million, up 60% year over year (YOY). The revenue increase was driven by monthly unique players, which rose to 1.34 million, up 31% YOY and 19% quarter over quarter.
  2. Online sports betting and online casinos are still in their early stages in the US. Online sports betting is only live in 15 states, representing only 29% of the US population. Online casinos are live in only five states, representing only 11% of the total US population. New York has recently legalized online sports betting, and sportsbooks are expected to launch in early 2022.
  3. For the fiscal year 2021, DraftKings expects revenue growth of at least 90% YOY, and for 2022 it expects growth of roughly 40% YOY.

Click the video below for my full thoughts and analysis. 

*Stock prices used were the premarket prices of Nov. 5, 2021. The video was published on Nov. 5, 2021.