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  "documentTitle": "DraftKings | SPAC Presentation Deck | 49 slides",
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  "authorName": "DraftKings",
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  "presentationDate": "2020-03-01 00:00:00",
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  "notes": "The slide uses a waterfall chart to bridge revenue to EBITDA, highlighting the impact of the SBT acquisition.",
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      "text": "As a result of the acquisition of SBT, new DK will: Lower its COGS through the elimination of platform costs, Improve product and technology cost structure through an efficient worldwide engineering network, Consolidate administrative functions within G&A",
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      "text": "Assumes 65% of population has live OSB and 30% of population has live iGaming, and then rolls forward 5 years to \"maturity\". Assumes DK has 25% and 15% market share in OSB and iGaming, respectively",
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      "text": "Note: Figures may not foot due to rounding. (1) Assumes 30% of U.S. population has access to legalized iGaming with DraftKings achieving 15% market share. Net of promotional allowances (22% of gross revenues). (2) Assumes 65% of U.S. population has access to legalized sports betting with DraftKings achieving 25% market share. Net of promotional allowances (22% of gross revenues). (3) Assumes 10% SG&A growth per annum from today. SG&A includes Sales and Marketing, Product and Technology, and General and Administrative expenses.",
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      "kind": "title",
      "text": "Illustrative Path to $1 Billion+ in EBITDA",
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