Jason Robins: Yes, I mean, that is something that we’re actively looking at right now. So we’re still doing our work, but we’ll have more to say on that in the coming months.
Daniel Politzer: Thanks so much.
Jason Park: Yes, I would just add. I mean, if you look at our cash balance that we forecasted, $1.6 billion at the end of this year, including the $400 million, roughly, for the acquisition of Jackpocket, and then our multi-year plan that we outlined in November, we’re obviously going to be accumulating cash very quickly. So it’s a great position to be in and we’re exploring all those options in.
Daniel Politzer: Appreciate all the detail. Thanks.
Operator: Thank you. Our next question comes from Robert Fishman with MoffettNathanson. Your line is open.
Robert Fishman: Good morning. I’m curious, can you talk about the recent hiring of Marie Donoghue as Chief Business and Growth Officer? I’m wondering, how does her prior experience at Amazon Sports potentially impact DraftKings appetite to explore sports rights down the road?
Jason Robins: Yes, we’re really excited that Marie on board, I mean she not only was at Amazon, she’s at ESPN for many years and has an incredible reputation and really strong relationships throughout our ecosystem and industry. So very excited to bring her on. I wouldn’t say this is any way a signal that we’re looking at live sports rights. That’s not something that right now is on our mind. But I think she brings a number of different experiences and skill sets that will help us understand all parts of the ecosystem. And we do a lot of business with folks who own live sports rights. So having that understanding from the other side of the table, I think, will be very helpful in future opportunities that we explore and future negotiations. So very excited to bring her on, and I think she’s going to bring a lot of real depth of experience as well as a unique perspective to the team.
Robert Fishman: Cool, and maybe just switching gears, can you discuss any more detail around the growth that you mentioned in increased bet frequency versus the bet size averages in 2023? And how you’re prioritizing one over the other to drive the 2024 results? Thank you.
Jason Robins: We really look at both. I mean, for us, it’s about how do we first engage the customer? If we have the customer engaged, that’s table stakes. You can’t do anything if you don’t have that. So we start there, and then we really try to meet them where they’re at. If they’re looking for new types of bets, and that makes it more interesting than great. If they’re looking to try new sports, then we try to provide that to them. And really, I think for us, it’s about taking that customer and personalizing the experience, so they’re sticky and they feel like it’s easy and comfortable to use the app. So if you’re always betting on basketball, we’re going to show you basketball, but we might also show you other interesting basketball bets that we think you might find intriguing.
So it’s really something that I think starts with the customer. And there’s all sorts of different levers that you can pull. And the important thing is not to force anything, to try to just get the right products in front of the right customers. And I think we’ve done a good job doing that.
Robert Fishman: Great. Thank you, guys.
Operator: Thank you. Our next question comes from Joe Stauff with SIG. Your line is open.
Joe Stauff: Thanks. Good morning. Jason, I was wondering if you could size or discuss the North Carolina opportunity. Do you see that similar to maybe in Ohio or Massachusetts, or do you see it maybe at one of the maybe smaller new state launches? And then the second question I had was, I’m wondering if you could discuss just the differences in parlay penetration, right, between the new and, say. older states? And especially with that parlay penetration being lower in the older states, how easy is that to ratchet that higher and is it reasonable that it can get to those same levels that you see in the newer states? Hopefully that makes sense.
Jason Robins: Yes, so on the first question, I mean, I think you’re right, North Carolina will be similar. It’s a little smaller population-wise in Ohio, but it’s a top 10 state, and we expect it to be a great launch and contribute in a meaningful way. And it’ll be pretty standard. I mean, at this point, our playbook’s honed, so we’re not going to approach North Carolina any differently, other than a few optimizations that we always make around the edges. But I think you’re going to see North Carolina be a very similar state launch to the ones that you mentioned that we did last year. And as far as parlay mix, yes, you’re absolutely right, newer states. I think it’s always easier when you have a product that you’re introducing customers to for the first time to get them to try new things and harder to get them if they’ve been using the product in a certain way for years to change behavior.
So it’s more of a grind, but the trends are absolutely continuing every single year in the oldest states that we have. From a parlay mix perspective, the trends are continuing to move in the right direction. So I think that’s another one that’ll just be a continuous tailwind for us over time and eventually it’ll converge what we’re seeing in the new states. It’ll just take a little longer.
Joe Stauff: Thanks a lot.
Operator: Thank you. Our next question comes from Stephen Grambling with Morgan Stanley. Your line is open.
Stephen Grambling: Hey there, can you hear me?
Jason Robins: We can hear you.
Stephen Grambling: Excellent. Thank you. Apologies for that. So on [Jackpot] (ph), I guess 1 question. Is that going to stay a single app or be folded into the DraftKings app or both? And does the ramp to $60 million to $100 million in 2026 assume any new states get approved?
