In New York, DraftKings maintained its lead in terms of gross gaming revenue (GGR) for the second consecutive week. In the week ending June 18, DraftKings generated GGR of $12.4 million, surpassing FanDuel’s GGR of $11.8 million. This follows the previous week when DraftKings overtook FanDuel for the first time in GGR.

Wells Fargo analysts are optimistic about DraftKings’ future, citing the potential for a major EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) inflection. They anticipate double-digit net revenue growth for DraftKings driven by higher hold and lower promotional expenses.