DraftKings confirms exec changes to deliver ‘significant profitability’

DraftKings has confirmed executive changes at the company with Jason Park taking up the newly created position of Chief Transformation Officer to lead strategic initiatives for additional growth, including a targeted acquisition of Jackpocket.

Park’s existing role as Chief Financial Officer will be filled by Alan Ellingson, who is elevated from his current position as Senior Vice President of Finance and Analytics. 

The changes will take place as of 1 May 2024, with the rationale explained by Jason Robins, Chief Executive Officer and Co-founder of DraftKings.

“I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years,” he said.

“Jason’s unique skill set, based on his accomplishments over the last five years as our Chief Financial Officer and 11 years as a private equity Operating Partner, will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming.”

Robins indicated the company is set to move with the times to exploit transformational artificial intelligence (AI) applications which have the potential to deliver a long-term advantage for betting platforms.

He continued, “I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”

Last week, DraftKings announced the launch of its online sportsbook in North Carolina, the 27th US state in which it now operates.

The company detailed the latest expansion for the gambling platform, as the arrival of online and mobile DraftKings betting in North Carolina follows on from an agreement earlier this year with NASCAR, which opened up its initial foray into digital sports entertainment and gaming in the state. 

Image credit: DraftKings

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