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  "documentTitle": "DraftKings | SPAC Presentation Deck | 26 slides",
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  "presentationDate": "2019-12-01 00:00:00",
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  "notes": "The slide highlights a 9.6x LTV/CAC ratio for the total cohort and notes that ~90% of year 1 marketing spend was recouped by the end of 2019.",
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      "text": "Note: LTV calculated as 5 years of undiscounted gross profit (less than 1 year of actuals, remainder is a projection) plus a terminal value assuming a 30% discount rate and 0% growth rate. NJ Acquisition Spend accounts for external marketing directly attributable to New Jersey.",
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      "text": "By end of 2019, DK will have recouped ~90% of year 1 marketing spend in New Jersey",
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      "text": "Cohort, NJ OSB + iGaming New Customers, NJ Acquisition Spend, CAC, LTV, LTV / CAC, Estimated Gross Profit (Jul-2018 to Dec-2019)",
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      "kind": "title",
      "text": "STRONG ROI ON EARLY MARKETING INVESTMENT IN NEW JERSEY",
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      "from": 15,
      "name": "Zoom In",
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