DraftKings Is ‘Cautiously Optimistic’ Prop 27 Will Pass in California

An influential supporter of Prop 27 is “cautiously optimistic” that California voters will pass the measure in November, allowing mobile sportsbooks to operate in what should be a massive CA sports betting market.

DraftKings sent out a press release Friday that focused on revenue statements for the second quarter of 2022. But the release also addressed the upcoming California election.

“DraftKings is cautiously optimistic about the ultimate outcome in November and the potential to generate hundreds of millions of dollars to address homelessness, mental health, and addiction in partnership with the state’s Tribes,” the company said in the release.

DraftKings is among the prominent companies that have thrown their weight behind Prop 27, which would allow both online sportsbooks and California tribes to offer sports betting in the world’s fifth-largest economy. Critics claim that DraftKings and other out-of-state operators are trying to grab market share and profits for themselves at the expense of CA’s tribes.

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DraftKings Aligns With California Groups Seeking to Pass Prop 27

DraftKings co-founder, CEO, and Chairman of the Board Jason Robins cited the company’s healthy financial situation as a reason he’s optimistic about California and other potential markets.

“We remain well capitalized,” Robins said in the press release. “(DraftKings is) ready to enter new markets as they become live, and confident in our ability to compete and win with customers.”

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Last month when he spoke in Boston to the National Council of Legislators from Gaming States, Robins linked the issue of social assistance to DraftKings desire to enter California:

“We’re incredibly excited about the prospect of responsibly bringing online sports betting to the state while protecting minors and other vulnerable populations, and providing much-needed funding for critical issues like homelessness and mental health,” Robins said in July. “It is creative solutions to societal problems like (Prop 27) that make me most excited for the possibilities in the gaming industry’s future.”

OPPONENTS EMERGE: California’s Tejon Indian Tribe Publicly Backs Prop 26, Opposes Prop 27