DraftKings Inc., a leading name in digital sports entertainment and gaming, is pleased to announce strategic changes within its executive leadership team, effective May 1, 2024. Jason Park, currently serving as the Chief Financial Officer of DraftKings, will transition into the role of Chief Transformation Officer. In this new position, Mr. Park will spearhead initiatives focused on leveraging advanced technologies to achieve greater operational efficiencies and manage the integration of the proposed acquisition of Jackpocket Inc. Concurrently, Alan Ellingson, the current Senior Vice President of Finance and Analytics at DraftKings, will ascend to the role of Chief Financial Officer.
Since joining DraftKings in June 2019, Jason Park has been instrumental in guiding the company through its transition to public markets and driving significant revenue growth—from $323 million in 2019 to $3,665 million in 2023. Under his financial leadership, DraftKings achieved positive Adjusted EBITDA in the second and fourth quarters of 2023, thanks to successful operational efficiency initiatives. Moreover, DraftKings’ stock price has seen a remarkable increase of over 325% from its initial trading day on July 25, 2019, through March 15, 2024, reflecting the company’s robust financial health and market confidence.
Alan Ellingson, who joined DraftKings in 2020, has been pivotal in shaping a first-rate finance and accounting department alongside Jason Park. His efforts in developing the company’s forecasting capabilities have been key to setting, monitoring, and updating DraftKings’ financial objectives over the multi-year horizon.
These strategic appointments underscore DraftKings’ commitment to its financial goals and operational excellence, positioning the company for continued success in the iGaming industry.
“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 Jason Robins, Chief Executive Officer and Co-Founder of DraftKings. “Jason’s unique skill set, based on his accomplishments over the last five years as our Chief Financial Officer and 11 years as a private equity Operating Partner, will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. 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.”
“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 Jason Park. “Alan is perfectly suited to seamlessly step into the Chief Financial Officer role as an established company leader with deep credibility across the entire organization. I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation program during our next earnings call.”
Jason Robins added, “I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”
“We have built a world-class finance organization, and I look forward to expanding my leadership role with the team,” said Alan Ellingson, incoming Chief Financial Officer. “In addition, I look forward to working closely with Jason Robins to deliver outstanding financial performance and generate incredible shareholder returns.”
