Jan. 16 at 6:54 PM
Shares of DraftKings and Flutter Entertainment fell after data showed a sharp decline in online sports betting revenue during the NFL Wild Card weekend. According to the New York State Gaming Commission, gross gaming revenue dropped about 40% year over year, totaling
$37.3 million for the week ended January 11, down from
$62.0 million a year earlier.
The decline was notable given that Wild Card weekend typically draws heavy betting activity. Piper Sandler noted that while the six NFL games generated strong engagement, much of the activity shifted toward prediction market platforms, suggesting changing bettor behavior.
The weakness spilled across the gaming sector, with shares of Caesars, Wynn Resorts, MGM Resorts, and Las Vegas Sands also declining. The disappointing results during a traditionally strong period raise questions about competitive pressures in online sports betting as alternative platforms gain traction.
$DKNG $FLTR $CZR $WYNN $MGM