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DraftKings Leases Private Jet From Its CEO
Company has thus far refused to say whether there is any financial benefit to investors by leasing a private jet from the boss.
August 8, 2022
This year DraftKings (DKNG), a sports betting company, began chartering the private jet owned by the company’s CEO Jason Robins. Though the company does not say why a private jet is suddenly necessary, DraftKings paid $700,000 to charter the plane in the first six months of 2022.
In March 2022, DrafKings began leasing a plane from an entity controlled by Robins. DraftKings leases the plane for $600,000 a year and pays all operating, maintenance and other expenses. In this case, DraftKings provides a reason for leasing the jet, suggesting it’s necessary to protect Robins and his family.
In the first six months of 2022, DrafKings disclosed it had incurred $100,000 under the aircraft lease.
On August 4, 2022, Robbins and other DraftKings executives agreed to take $1 as base salaries for 2022.
DuDil has contacted DraftKings about the arrangement. Specifically, we’ve asked whether there is a financial benefit to investors by leasing the jet through Robins rather than the company leasing directly. We’ll update subscribers when new information is developed.
For perspective, the company spent $11 million in the quarter primarily lobbying officials in Florida for a license to operate there.
Related: BETS, RSI, PENN, IBET, BETZ, GMBL
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