DraftKings Posts $3.2M Loss; Limited Event Operators Launch in AZ

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DraftKings Sportsbook in Arizona is feeling the heat. According to a report released by the Department of Gaming, Draftkings has reported a Gross Gaming Revenue (GGR) loss of $3.2 million in its June 2022 Arizona Operations.

DraftKings Sportsbook Loss in AZ

Despite being the second biggest sportsbook in Arizona in terms of handle, DraftKings reported a $3.2 million loss in June 2022. The $95.98 million winnings of players topped the $92.82 million amount wagered on its online gaming platform. This still does not include the $1.37 million free bets/promotional credits awarded.

The major setback makes DraftKings the first sportsbook with at least a $5 million handle to report negative figures for the Arizona sports betting market. This just comes after an impressive May 2022 operation which resulted in a $12.2 million revenue.

Performance of Other AZ Sportsbooks

Despite the 30% drop in the total amount wagered, major sportsbooks in the Grand Canyon State still report decent results. FanDuel reign as the Top AZ sportsbook in terms of the handle as it is the only one to breach the $100M mark. It contributed $7.37 million in revenue out of the  $12.1 million total amount retained by all sportsbooks. Here’s a quick summary of the performance of top sportsbooks:

AZ SportsbookHandleRevenueHold

DraftKings is not the only sportsbook that reported a loss, Golden Nugget also finished with negative numbers but with much smaller operations. Online sports betting operations of Fubo, Unibet, Bally Bet, SuperBook, and Desert Diamonds also resulted in a loss after the promotional expenses. 

Limited Event Wagering Operators Commence

Limited event wagering operators are already included in the June report as they commence. Even though the figures are substantially low compared to the regular sportsbooks, this is still something that gives Arizonians more betting options.

Charley’s Sports had the highest revenue with $5,794 as it retain 43.6% of its $13,276 handle. Turf Paradise handled the biggest amount with $123K followed by Harold’s Restaurant’s $20K. 

However, the bettors of Harold’s take home a total of $6,984 making it the sportsbook with the roughest opening month. Midtown Tavern and Brookside II also reported negative numbers.