DraftKings Inc.

DraftKings Inc. is a digital sports entertainment and gaming company. The company offers online and retail sports betting, referred to as "Sportsbook," along with online casino games, known as "iGaming." Additionally, DraftKings provides daily fantasy sports ("DFS"), digital lottery courier services, prediction markets, and other product offerings. The company's operations focus on creating an environment where users can engage with these offerings. DraftKings makes substantial investments in its product offerings and technology to continuously introduce new innovations. It also uses data science to improve marketing, merchandising, and operational efficiency, aiming to deliver a positive user experience. Significant investments are also directed towards sales and marketing, as well as incentives, to expand, retain, and monetize its paid user base. This includes personalized cross-product offers and promotions, and efforts to build brand awareness. DraftKings prioritizes continued investment in its product offerings, launching these offerings in new jurisdictions, establishing replicable and predictable state-level unit economics in sports betting and iGaming, and expanding its overall product portfolio. When entering a new jurisdiction with Sportsbook and iGaming, the company invests heavily in customer acquisition, user retention, and cross-selling until a critical mass of engaged users is achieved across its product offerings. The current technology platform is designed for high scalability, requiring relatively minimal incremental spending to launch offerings in new jurisdictions.