FanDuel, DraftKings and others scale back marketing as NFL season arrives

FanDuel, DraftKings and others scale back marketing as NFL season arrives

Article brief provided by Wall Street Journal
  • Katherine Sayre, Wall Street Journal
August 17, 2022 6:53 PM
  • Katherine Sayre, Wall Street Journal

    Sports-betting companies are revisiting their game plans.

    Gambling operators have been pouring hundreds of millions of dollars into the pursuit of new customers as more states have adopted online sports betting. Now, those companies are under pressure to rein in spending because they have said they plan to turn a profit sometime next year.

    The college football and National Football League seasons-a prime time to advertise and entice more people to gamble-will be a balancing act on the path to profitability for companies such as FanDuel Group, DraftKings Inc. and BetMGM, the market leaders. Other competitors also are scrutinizing their bottom lines.