DraftKings has just unveiled their Q3 numbers which show that revenue is way up while the company continues lower its losses. The numbers for Q3 dwarf the previous years $213 million with $502 million in revenue growth. DraftKings did reports net losses of $450 million for Q3 but that is a good improvement from their 2021 Q3 losses of $545 million. DraftKings CEO Jason Robins released some words on the Q3 report stating, “DradtKings has a very strong third quarter. Our team continued to drive top-line growth through highly effective customer engagement and compelling product and technology enhancements while remaining focused on our path to profitability.”

Penn Entertainment has just unveiled their Q3 report and the numbers are way up, showing an annual net income increase of 43% to $123.2 million from the prior year of $86.1 million. The company reported $1.6 billion in revenue up 7.5%. Penn is crediting its increase in revenue to adjusted EBITDA results including the Kansas launch as well as a successful media campaign in Ontario. Snowden elaborated on the Ontario strategy stating, “In Ontario, we are enjoying early success during our first football season while benefitting from theScore Bet’s seamless transition to our own fully-integrated, proprietary tech stack.”

The Virginia Lottery has just revealed the sports betting handle for September and the numbers are up. The handle saw a 30% jump at $411.2 million when compared to August with $284.7 million. The win rate stayed firm as well with a 35% month-on-month increase in revenue with a gross revenue of $48.3 million. Virginia’s sportsbook tax of 15% raked in $7.3 million as nine of their thirteen operators were profitable. Of the wagers made professional basketball was the preferred sport, being responsible for 23.66% of the year-to-date bets placed. Baseball trailed at 14.1% and football followed at 10.88% and one-fifth of all total bets were placed as parlays.