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DraftKings increased spending on welcome promotions in the third quarter. The increase was part of a broader push to attract more online casino players. The operator also introduced exclusive games and new rewards.
Its Nov. 5 business update detailed customer growth across its casino business, including Michigan. The customer growth compares the third quarter of 2026 with the same period in 2025.
Gross casino revenue rose 7% from a year earlier. Net casino revenue reached $460.9 million. That was up 2% from $451.3 million in the third quarter of 2025. DraftKings attributed the slower net revenue growth to increased spending on promotions for new customers.
Through September, the company generated $1.38 billion in net casino revenue. The total was up 6.1% from the first nine months of 2025.
DraftKings holds third place in Michigan’s online casino market
DraftKings Casino operates in Michigan through the Bay Mills Indian Community. It generated $132.2 million in online casino gross receipts from July through September, according to Michigan Gaming Control Board figures.
DraftKings’ monthly online casino receipts increased throughout the quarter. They rose from $43.1 million in July to $44.3 million in August and then to $44.8 million in September. DraftKings finished third behind FanDuel and BetMGM in each of those three months.
DraftKings accounted for approximately 14.6% of Michigan’s $906 million in online casino gross receipts over the quarter. Its September revenue was up 10.9% from the $40.4 million recorded in the same month of 2025.
Cashingo combines slot reels with a bingo-style grid
DraftKings highlighted its exclusive Cashingo games in the update. The series adds a coin-collection feature to online slots. The feature gives players a separate grid to follow alongside the reels.
Under a multiyear agreement announced Aug. 27, DraftKings became the exclusive US home of Games Global’s growing Cashingo franchise. The exclusivity covers regulated online casino states.
The feature debuted in Links of Ra Cashingo from Slingshot Studios. Other titles using the feature include Eruption Blaze Cashingo and Mermaid Millions Cashingo.
Cashingo coins carry cash or jackpot prizes. They are copied from the slot reels onto corresponding positions on a separate grid. The aim is to complete a horizontal, vertical, or diagonal line. That is similar to filling a bingo card. Completing a line awards the combined value of the coins collected along it.
In Links of Ra Cashingo, moon coins collected on earlier spins remain on the grid as more coins land. Once a winning line is completed, it clears. That makes those positions available for new coins. If a moon lands on an occupied position, its value combines with the coin already there.
DraftKings reports higher October activity, expects faster growth in 2027
DraftKings said it increased spending on marketing and new customer promotions during the third quarter. It said that investment is continuing into the fourth quarter.
October gross casino revenue grew 12% from a year earlier. That marked an acceleration from the third quarter’s 7% increase.
DraftKings also reported a 24% year-over-year increase in October paid active days. The measure combines the number of active customers with the days they engaged with the app. It reflects overall customer activity rather than growth in player numbers.
DraftKings described its casino changes as a multi-quarter plan. It said it expects those investments to accelerate online casino revenue growth in 2027.
