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DraftKings CFO Jason Park will assume a new role as chief transformational officer, where he will be charged with improving company efficiency.

Park, who has served in the position since June 2019, will be charged with deploying technology to capture operational efficiencies, as well as integrating the recent $750m Jackpocket acquisition.

Alan Ellingson, currently SVP of finance and analytics at DraftKings, has been tapped as the operator’s new chief financial officer, effective 1 May.

“I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years,” said CEO Jason Robins,

“I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in US online gaming.

“There are also potentially transformational AI applications on the horizon that could change the way businesses operate and serve their customers to create potential long-term advantages.”

Earlier this month, Robins told analysts at Morgan Stanley that AI would be a friend to DraftKings‘ future endeavours by improving user experience through greater personalisation and faster response times.

Jason Park’s term as CFO

During Park’s term, revenue rose from $323m in 2019 to $3.67bn for 2023. The tail end of this also saw the company reach EBITDA profitability in Q2 and Q4 of 2023.

Park’s service as CFO has coincided with DraftKings’ switch to a public company, which began July 2019. From initial trading to 15 March 2024, the company’s share price has risen by 325%.

“I am thrilled to take on this new role which tackles several significant opportunities to improve how we operate and taps into my passion for building great and highly efficient companies,” said Park.

“Alan is perfectly suited to seamlessly step into the CFO role as an established company leader with deep credibility across the entire organisation.

“I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation programme during our next earnings call.”

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