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DraftKings is on its way to achieving a path to profitability as it works to increase gross margins and reduce spending on customer acquisition, the company said at its annual investor day Thursday.
The online sports betting company reiterated its belief that five more states would become contribution profit positive in fiscal 2022, after five states, including New Jersey, went positive in 2021. If no new states are added in the current fiscal year, the company could be contribution profit all around.