DraftKings posts $769.6m in revenue, though its net loss totals $397.1m

However, the US sports betting giant posted a $221.6m adjusted EBITDA loss. DraftKings has posted its Q1 financial results, showing that it made $769.6m in total revenue – up 84% from 2022’s $417.2m. Meanwhile, its adjusted EBITDA sat at a $221.6m loss, an improvement over Q1 2022’s $289.5m. However, this is a trend that is frequently seen with DraftKings, as it drives significant amounts in revenue yet makes a loss due to its...