3G Capital Exits DraftKings Stake Despite Strong Quarterly Performance

Investment company 3G Capital Partners has sold all its DraftKings shares, getting rid of 70,000 Class A stocks in the second quarter of 2025, as shown in its newest report to the US Securities and Exchange Commission. This sale ends the hedge fund’s connection to the online betting company, which it had started to reduce earlier in the year.

3G Capital Sells DraftKings Stake Amid Wider Portfolio Overhaul

The position, though small, was set up at an average buy price of $38.20 per share, a level the stock seldom hit between April and June. This hints that the sale might have resulted in a loss. The choice to sell is part of a bigger portfolio shake-up by the company, which Alexandre Behring, a Brazilian billionaire, helped start. This shake-up also involved selling off stakes in Amazon and several other firms while buying more shares in PDD Holdings.

Even with 3G Capital’s exit, DraftKings still has strong support from big investors. Other hedge funds, like Scopia Capital, Contour Asset Management, and Whale Rock Capital Management, keep large stakes in the stock.

Notably, DraftKings enjoyed a stellar quarter. During Q2 2025, the company brought in a record $1.51 billion in revenue, growing 37% from the previous year. Its adjusted EBITDA jumped to $301 million, doubling from before and reaching a 20% margin. The company pointed to its strong sportsbook results, lucky sports outcomes, and tight cost management as the key factors behind this growth.

DraftKings Mixes Viral Marketing, Legal Wins, and New Lawsuits in Eventful July

In late July 2025, DraftKings grabbed attention for several reasons, from clever marketing to courtroom fights. The company ran an unusual “pick a number” campaign on X (formerly Twitter), asking users to guess a number between 1 and 1,000,000 without even offering a prize. This stunt had an impact on social media, getting over 1.5 million views and 21,000 comments. Fans followed hints that narrowed down the range. 

In other company news, DraftKings won a legal battle in New York. A federal judge threw out a proposed class action that claimed its $1,000 deposit bonus offer misled customers. The judge ruled that DraftKings had spelled out the terms of the offer. 

However, just a few days after, the operator got hit with another class action lawsuit in Pennsylvania. This one accused them of using ads that mislead and promotional terms that were not clear.

These pushed players to gamble with high risks, with some losing more than $50,000 in just a few months. The lawsuit takes issue with phrases like “risk-free bet” and “no-sweat first bet,” saying they did not show the real financial risk. Additionally, the company’s venture arm Drive by DraftKings said it plans to put more money into the growing real-money gaming market. They think global gross gaming revenue will go over $150 billion by 2030.