DraftKings successfully closes on $700m term loan B facility, $750m revolving credit facility

DraftKings has successfully closed on a previously reported $700m senior secured term loan B credit facility and $750m revolving credit facility, which will be utilized for repurchasing a portion of convertible notes issued by DraftKings Holdings and “general corporate purposes.” 

The new revolving facility replaces the operator’s existing $500m senior secured revolving credit facility, originally scheduled to mature during November 2029. The updated facility will provide revolving loans, swing line borrowings and letters of credit of up to $750m, set to mature in August 2031.

According to DraftKings, the term loan B was increased to $700m from the original $600m amount due to “strong demand” and will mature in August 2033. 

The new closures were reported after DraftKings released its financial results for the second quarter of 2026 and first-half period, having witnessed a net loss of $67.6m during Q2 and a revenue decrease of 4.6% to just over $1.44bn.

Despite the results, DraftKings Co-Founder and CEO Jason Robins highlighted growth across monthly unique players (MUPs) for DraftKings, which increased 9% for Q2 to 3.6 million customers.

“We delivered a strong second quarter and enter the back half of the year with real momentum, as our core business grew across handle, users and engagement,” Robins said. 

“Our Super App is now live nationwide, and Predictions is already growing faster than we anticipated. The similarity of Predictions customer metrics to Sportsbook customer metrics, our advantaged LTV position and our playbook to innovate on a leading Predictions offering all underpin our confidence that we can win the category this NFL season and beyond.”

For the H1 period, DraftKings’ net revenue increased 5.8% to nearly $3.09bn, while adjusted EBITDA fell by 30% to $282.5m. The operator reported a net loss of more than $46.5m for the period, following a net income of $124.1m during the first half of 2025.