DraftKings in June became the first major mobile sports wagering operator to post a monthly loss in Arizona, significantly dragging down the overall revenue for the month in the Grand Canyon State, according to figures released Tuesday by the state’s Department of Gaming.
The online titan was the first book with at least $5 million handle to post a gross revenue loss. Its bettors came out $3.2 million ahead on $92.8 million wagered in June, resulting in a -3.4% win rate. When including promotional play, DraftKings’ adjusted loss climbed to more than $4.5 million — a swing of more than $16.7 million compared to the $12.2 million it claimed in May.
Overall, state operators generated close to $12.1 million from $318.8 million handle, giving them a 3.8% hold. Promotional offerings were again robust, though the $9.2 million was the lowest since launch last September. Handle dropped 30.9% compared to May’s $461.5 million wagered, but gross revenue plummeted 78.1% as the June win rate was more than eight percentage points off the all-time high that nearly reached 12% the previous month.