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regulated gaming expansion of the past half-decade is entering a more expensive phase: market share that once came cheaply now requires aggressive acquisition spend, and the operators still chasing it are paying for it in margin.
DraftKings (NASDAQ: DKNG), the second-largest U.S.
online sportsbook operator, made that trade visible in its second-quarter 2026 results, posting $1.44 billion in revenue that came in 4.48 percent below consensus while adjusted EBITDA collapsed 61.88 percent year-over-year to $114.6 million.
The Q2 numbers, read plainly Sports consumer volume rose 15 percent year-over-year and monthly unique payers grew 9 percent. Neither offset what happened to the margin.
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