DraftKings CEO Jason Robins said the sports betting industry is at a turning point as more people across the country realize they can gamble legally.
"We're at a very, you know, important inflection point in the industry," Robins said."Most people assume that it's legal in most states now if not all. And we're just seeing a lot of great growth." It's been six years since the Supreme Court lifted the federal ban on sports betting, and the practice is now legal in 38 states and Washington, D.C.CEO Jason Robins said the online sports betting industry is at a turning point as more people across the country realize they can gamble legally."We're at a very, you know, important inflection point in the industry," Robins said."Most people assume that it's legal in most states now if not all.
DraftKings cut its full-year guidance for 2024 when it reported Thursday after the close, sending shares down nearly 6% in extended trading. The company now expects lower revenue due to"customer-friendly sports outcomes early in the fourth quarter of 2024," which essentially means that gamblers on the platform won big.Robins said the business remains"in a heavy acquisition period" that isn't slowing down.