1106 ET - With its 4Q report, DraftKings put a bow on a 2024 that saw it clocking huge gains across a variety of metrics, Truist analysts say in a research note. The company acquired 3.5 million new customers at record low acquisition costs and grew its online sports-betting and iGaming handle, or the total amount wagered by bettors, by 21% from the year before, the analysts say. The company's structural hold, or share of money made after paying out winning bets, rose 70 basis points and its promotions rate dropped by 200 basis points, the analysts say. And importantly, 2024 was the company's first year with positive free cash flow, they say. DraftKings jumps 13% to $52.34. (dean.seal@wsj.com)

(END) Dow Jones Newswires

February 14, 2025 11:06 ET (16:06 GMT)

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