First Sports & Social DraftKings venue to open in Detroit
DraftKings and Live! Hospitality and Entertainment will open a sports bar this fall.
US.- DraftKings and Live! Hospitality and Entertainment have announced that their Sports & Social DraftKings venue in Metro Detroit, Michigan, will open this autumn. The venue is located at Somerset Collection, a shopping destination.
The first Sports & Social DraftKings will have a bar and restaurant, sports viewing and wagering. Guests will be able to use the DraftKings app to play fantasy sports and place bets from their mobile devices on a variety of sports while watching live. There will be a 32-foot LED media wall and flat-screen televisions.
The 10,400 square-foot location will include a DraftKings Lounge that can be used by guests for private parties and events, as well as a dog-friendly outdoor patio.
Michael Kibort, senior director, retail sportsbooks at DraftKings, said: “We are thrilled to debut the first-ever Sports & Social DraftKings and offer customers in Michigan our innovative mobile sportsbook app with an exciting in-person experience.
“Thanks to the strong support of Live! Hospitality & Entertainment, we believe we have created a premier dining, sports, and entertainment destination for fans to enjoy.”
Reed Cordish, principal of The Cordish Companies and CEO of Live! Hospitality and Entertainment, added: “DraftKings is an industry leader in sports and entertainment, and we are incredibly excited to be working with them on this new collaboration for Sports and Social.
“We are creating a new standard for dining and sports entertainment with Sports and Social DraftKings that is unmatched.”
Sports & Social and DraftKings confirmed that more locations are expected to be announced in the coming months.
DraftKings reports Q2 revenue of $466m
DraftKings has published its second quarter financial results. The company generated $466m in revenue, a 57 per cent increase from $298m in the same period in 2021. Revenue for the DraftKings’ B2C segment grew to $455m, an increase of 68 per cent compared to the three months ended June 30, 2021.
The company recorded a net loss of $217.1m for Q2 2022. Although this is not as high a loss as in Q1 2021, when losses topped $305.5m, the company’s net loss was greater in H1 2022 than in H1 2021. H1 2022 saw the operator record a net loss of $684.8m, compared to a loss of $651.9m in H1 2021.
