DraftKings CEO Jason Robins not too long ago went on a Bloomberg radio present in what amounted to pitching his firm as way more than only a daily fantasy sportsbook web site.
He additionally indicated that the way forward for his firm lies in an preliminary public providing, though he didn’t provide a timeline for such a chance.
DraftKings and an IPO?
Robins was showing on Bloomberg Baystate Radio and speaking about the way forward for DraftKings. Curiously, little or no of the dialog needed to do with DFS and DraftKings’ DFS product. (That’s fascinating, in fact, in that that’s nearly all of DraftKings’ income, presently.)
We additionally bought a way of the place the long run lies for DraftKings within the wake of a merger with FanDuel that was known as off. In response to Robins, the long run he hopes for is an IPO:
“For us the objective has all the time been to construct an incredible enterprise and make that enterprise stand by itself deserves, and that actually would result in the IPO path…. Proper now we’re marching in direction of an IPO path,” Robins stated.
You’ll be able to take heed to the entire interview right here.
Robins, partially due to the interviewers’ questions and partially through his personal steering, was positioning DraftKings as way more than simply DFS. Bloomberg and its viewers are extra within the huge image and the enterprise aspect of issues. Nonetheless, the shortage of discuss in regards to the core DFS product was putting.
Robins spent the interview saying DraftKings may very well be a platform for all method of content material and commerce. That, in fact, makes DraftKings extra enticing for a possible IPO.
Stay streaming and DFS
Robins talked about his firm’s latest take care of the EuroLeague to reside stream video games as a mannequin that he hopes may be replicated, in some kind, for different sportsbook.
DraftKings clearly is just not ready the place it may bid with main media firms for broadcast rights, as Robins stated, however could be a automobile for that content material.
What we’re eager about is determining how can we accomplice with these rights holders and that may very well be these very people who pay these lots of of tens of millions, which can be in search of methods to distribute their content material.
And:
I additionally suppose with the ability to exhibit success from the EuroLeague deal will actually assist speed up among the discussions.
The thought is we’re a platform, we don’t should be one those who personal the rights and even broadcast the content material. We simply wish to be those that join the client that desires to see that content material with the content material rights proprietor or content material producer … and utilizing our platform, and our information, and our pockets relationship to do it.
Promoting greater than DFS entries
Past simply reside streaming, Robins additionally hinted at way more bold targets. Robins indicated that the info and his firm’s relationship with is prospects may be leveraged in methods past getting them to purchase entries for a DFS contest:
We will additionally promote into different classes that aren’t content material. We all know which prospects are followers and which kinds of gamers they like, that helps you perceive what attire to promote them, what tickets they may wish to go to sporting occasions. All these issues are on our roadmap.
This yr DraftKings opened up an e-commerce retailer, for instance, and has been very targeted on increasing its content material choices.
A few of DraftKings’ ambition is a long-held need to unfold its wings past DFS. A few of it’s maybe acknowledgment that the core DFS enterprise is just not the trail for extra progress.
Both means, its changing into more and more clear that DraftKings doesn’t wish to be put in a field of simply being a DFS contest operator.