DraftKings vs Red Rock Resorts
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The short version
- DraftKings is the larger business, with $6.1B of revenue in fiscal 2025 against $2.0B for Red Rock Resorts, about 3.0 times as much.
- DraftKings grew revenue faster (27.0%, against 3.7%).
- Red Rock Resorts kept more of each dollar of sales as operating profit (29.7% operating margin, against β0.3%).
- Red Rock Resorts turned more of its sales into free cash flow (14.4% FCF margin, against 10.7%).
- Red Rock Resorts earned a higher return on the capital invested in it (14.7%, against β0.7%).
| Latest fiscal year | DKNG Β· FY25 | RRR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $2.9B |
| Revenue | $6.1B | $2.0B |
| Free cash flow | $648M | $291M |
| Net income | $3.7M | $188M |
| Growth | ||
| Revenue growth | 27.0% | 3.7% |
| 5-year growth | 58.0% | 11.2% |
| Share count change | 2.9% | β1.0% |
| Profitability | ||
| Gross margin | 41.3% | β |
| Operating margin | β0.3% | 29.7% |
| Net margin | 0.1% | 9.4% |
| FCF margin | 10.7% | 14.4% |
| Return on capital | β0.7% | 14.7% |
| Return on equity | 0.5% | 88.8% |
| Balance sheet | ||
| Net debt | $132M | $3.3B |
| Net debt / EBITDA | 0.5x | 4.1x |
| Dividends and buybacks | $572M | $200M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 8 | 7 |
Revenue
FY16
DKNG β
RRR $1.5B
FY17
DKNG β
RRR $1.6B
FY18
DKNG $226M
RRR $1.7B
FY19
DKNG $323M
RRR $1.9B
FY20
DKNG $615M
RRR $1.2B
FY21
DKNG $1.3B
RRR $1.6B
FY22
DKNG $2.2B
RRR $1.7B
FY23
DKNG $3.7B
RRR $1.7B
FY24
DKNG $4.8B
RRR $1.9B
FY25
DKNG $6.1B
RRR $2.0B
DKNG
RRR
Operating margin
FY16
DKNG β
RRR 21.0%
FY17
DKNG β
RRR 20.2%
FY18
DKNG β33.9%
RRR 22.1%
FY19
DKNG β45.3%
RRR 10.0%
FY20
DKNG β137.2%
RRR 7.5%
FY21
DKNG β120.5%
RRR 24.8%
FY22
DKNG β67.5%
RRR 33.7%
FY23
DKNG β21.5%
RRR 32.4%
FY24
DKNG β12.8%
RRR 29.3%
FY25
DKNG β0.3%
RRR 29.7%
DKNG
RRR
Free cash flow
FY16
DKNG β
RRR $184M
FY17
DKNG β
RRR $41.5M
FY18
DKNG β$59.3M
RRR β$233M
FY19
DKNG β$63.3M
RRR β$36.6M
FY20
DKNG β$206M
RRR $154M
FY21
DKNG β$435M
RRR $549M
FY22
DKNG β$658M
RRR $214M
FY23
DKNG β$22.7M
RRR β$205M
FY24
DKNG $408M
RRR $264M
FY25
DKNG $648M
RRR $291M
DKNG
RRR
Return on capital
FY16
DKNG β
RRR 10.7%
FY17
DKNG β
RRR 5.6%
FY18
DKNG β
RRR 10.2%
FY19
DKNG β
RRR 4.1%
FY20
DKNG β176.2%
RRR 2.0%
FY21
DKNG β155.4%
RRR 13.4%
FY22
DKNG β117.2%
RRR 18.2%
FY23
DKNG β59.7%
RRR 15.7%
FY24
DKNG β41.8%
RRR 14.5%
FY25
DKNG β0.7%
RRR 14.7%
DKNG
RRR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.