DraftKings CEO explains what Super Bowl means for the company

DraftKings Inc (NASDAQ: DKNG) has been a story of sheer strength in recent weeks and that strength, as per its chief executive, will only continue moving forward.

Super Bowl will be a big event for DKNG

CEO Jason Robins is convinced that the sports betting company will greatly benefit from “Super Bowl” this Sunday. Speaking recently with CNBC’s Contessa Brewer, he said:

It will be DraftKing’s biggest customer acquisition event of the year. Every year seems to be growing and at some point, that’ll end. But we’re on a nice growth trajectory for the industry. We expect big numbers in the Super Bowl.

The Boston-headquartered company is set to report its Q4 results next week. Consensus is for to lose 63 cents a share this quarter narrower than 80 cents per share it lost a year ago.

Year-to-date, DraftKings stock is up about 45% at writing.

DraftKings Inc recently announced layoffs

CEO Robins is confident that DraftKings is well-positioned to seamlessly handle the expected surge in volume. The big game is being played in Arizona this year – the southwestern state that legalised sports betting in 2021.

Earlier this month, the Nasdaq-listed firm announced plans of lowering its headcount by 3.5%. On CNBC’s “TechCheck”, the chief executive noted:

It was something we felt was the right choice as we’ve been very focused on efficiency. We took a look at different areas and how we’re organized and decided that reorganising some teams was the best way to become more efficient.

Wall Street currently has a consensus “overweight” rating on the DraftKings stock.