DraftKings CEO Jason Robins Expects Kentucky Launch Timeline By August

Posted on May 8, 2023 - Last Updated on May 9, 2023

DraftKings CEO Jason Robins directly addressed the sportsbook’s future in Kentucky during his company’s 2023 first quarter earnings call last Friday. Most notably, he told investors to expect more clarity on a launch timeline during the August earnings call.

“Kentucky, of course, already passed this year,” Robins said. “We don’t have any update yet on the timing of launch, but we expect by our August call, we’ll have a little bit more clarity there and can factor that into any future guidance to the extent that it’s relevant to this year.”

How Kentucky affects DraftKings’ 2023 projection

Robins also said DraftKings has factored the Kentucky sports betting launch into its 2023 projection of full-year revenue of $3.235 billion, compared to $3.135 billion in 2022.

Kentucky is the only known launch for 2023.

That means that, as of now, DraftKings Kentucky will be the only new version of the Boston-based sports betting app this year. However, other states have bills currently being discussed.

“Right now, I think if you look at bills that are live, you could see a scenario where it’s above what we forecasted, below or right on,” Robins said. “Obviously, if Texas comes through then that plus Kentucky alone is already over the target.

“If Texas does not, you still get into that sort of range that we’ve said is an expectation if North Carolina, Minnesota and Vermont end up passing alongside Kentucky. So I think either of those are potential scenarios to get at or above. And obviously if some or none of those bills pass, then we won’t. So I think too early in the year to kind of call that.”

When might sportsbooks launch in KY?

Kentucky must launch its legal sports betting market by Dec. 28, per House Bill 551, which legalizes sports betting in the state. But officials hope to launch sooner than that.

The Kentucky Horse Racing Commission, which was tapped to regulate the market, is already working on drafts of regulations ahead of its June 20 public meeting. State lawmakers, including Gov. Andy Beshear, have publicly stated their goal of getting Kentucky sportsbooks up and running by the NFL season.

The Kentucky sports betting bill projected $23 million in annual sportsbook tax revenue.

Photo by AP Photo/Charles Krupa
Matthew Bain Avatar
Written by
Matthew Bain

Matthew Bain started as a Content Manager for PlayKentucky and other Catena Media sites in 2022. He covered the launch of Massachusetts sports betting and the Prop 26 vs. Prop 27 battle in California. Before that, he spent six years as a sports reporter and then deputy sports editor for the Des Moines Register, during which time he won nine statewide journalism awards, including the Genevieve Mauck Stoufer Outstanding Young Iowa Journalists Award. As deputy sports editor, Matthew oversaw the Register's recruiting coverage while also innovating the outlet's high school sports coverage. Matthew graduated from San Diego State and grew up in California, but he's somehow a Boston Celtics fan. Long story.

View all posts by Matthew Bain