DraftKings Lines Up $600 Million Term Loan After Softer Second Quarter

DraftKings has launched a $600 million Term Loan B facility, adding to its balance sheet roughly a week after reporting second-quarter results that showed profitability improving even as revenue declined. The financing gives the sportsbook operator additional flexibility as it funds product expansion and marketing into the autumn sports calendar.

For the June quarter, DraftKings reported earnings of $0.09 per share against consensus of $0.03, while revenue of $1.44 billion fell about 5% from $1.51 billion a year earlier. The company posted a net loss of roughly $68 million but held its full-year 2026 revenue guidance at $6.50 billion to $6.90 billion, pointing to customer acquisition trends, its Predictions product, and the continued rollout of its Super App.

Geographic expansion continues in parallel. An Alberta launch in July brought the DraftKings sportsbook and Golden Nugget online casino into a second Canadian province, taking the company to 34 North American jurisdictions. Analyst ratings have stayed largely positive despite the revenue shortfall.