DraftKings Inc. (DKNG) Earnings Call Transcript & Summary

Welcome, ladies and gentlemen, to the 2021 Virtual meeting -- shareholder meeting of DraftKings, Inc. I am Stanton Dodge, the Chief Legal Officer and Secretary of DraftKings, Inc., and I will be serving as the secretary for today's meeting. It is now 12:30 p.m. Eastern Time, so let's get started. I will now turn over the meeting to Jason Robins, our Chief Executive Officer, Chairman and Co-founder.

Thank you for joining our 2021 Virtual Shareholder Meeting. I'm Jason Robins, and I'll be serving as the Chairman for today's meeting. The polls are now open for voting on your shareholder webcast portal. During the meeting, shareholders will have an opportunity to submit questions through the webcast portal. We will do our best to respond to the appropriate questions regarding the business of this shareholder meeting. For those that would like to ask a question unrelated to the business of today's shareholder meeting or related to our Q1 results, we note that we will file our Q1 results shortly and hold our first quarterly earnings call on May 7. Therefore, we will defer those questions until we see you at our earnings call. I would also like to welcome our Board of Directors who are present today. I would like to thank each of them for their service during the past year, and I would like to particularly thank Rich Rosenblatt and Gavin Isaacs. Richard and Gavin have decided to step down from our Board when their terms expire today. Also present is John Blanchette, a representative of BDO USA, LLP, our independent registered public accounting firm. I'll now ask Mr. Dodge as Secretary for this meeting to present proof that notice of the meeting has been properly given.

Thank you, Mr. Chairman. I am pleased to confirm that notice of this meeting has been duly given and that a proxy statement was duly sent to all of the company's shareholders of record as of March 1, 2021, and additional proxy materials were filed with the Securities and Exchange Commission.

Mr. Dodge as inspector of elections has filed his oath of office with the company. Mr. Dodge has also filed his certificate stating that the holders of a quorum of the voting securities of the company are virtually present or are represented by proxy at this meeting. There are 3 proposals to be voted on today. They are all discussed in detail on our -- in our proxy statement. And 3 proposals are: number one, the election of 13 directors; number two, the ratification of BDO USA, LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021; and number three, to hold a nonbinding advisory vote on the frequency of executive compensation votes. We will now review any appropriate questions received during the business of this shareholder meeting. Okay. Sounds like there are no questions. I will turn it back to Stanton.

Thank you, Mr. Chairman. We have not received any appropriate questions regarding the business of the shareholder meeting.

Thank you. The Secretary has also informed me that the polls are now closed and the tabulation is complete. Mr. Secretary, may I have your report?

Mr. Chairman, based on the votes cast virtually and by proxy, all 3 proposals have received more than 90% of the total required vote and are, therefore, passed.

Thank you, Mr. Secretary. That concludes our proceedings today, and the meeting is hereby adjourned. Thank you, everyone, for participating in today's meeting and for your continued support of DraftKings. We look forward to talking with you further on our earnings call once we have filed our Q1 earnings on May 7.