CFO Jason Park named new Chief Transformation officer in DraftKings reshuffle

Park moving over from current post as CFO

DraftKings is moving its Chief Financial Officer Jason Park into the role of Chief Transformation Officer amid a reshuffle at the C-suite for the betting and gaming giant.

In his new role, Park will be tasked with deploying “cutting edge technologies” to aid operating efficiencies as well as overseeing the planned acquisition of Jackpocket.

“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 in a statement.

Park has been with DraftKings since joining as CFO in 2019. In that position, he oversaw the company’s transition to the public markets and oversaw exponential increases in revenue and stock price. His move to Chief Transformation Officer is at the request of DraftKings CEO and co-founder Jason Robins.

“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 Robins. “Jason’s unique skill set 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.”

Park will be replaced as CFO by Alan Ellingson, who is being promoted from Senior Vice President of Finance and Analytics and has worked closely with Park to develop what the company calls a world-class finance and accounting department.

“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,” added Robins. “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.”

Both personnel moves will be effective from May 1, 2024.

A bet on Jackpocket’s future?

Robins’ focus on Jackpocket in explaining Park’s shift seems to suggest that DraftKings have high hopes for the digital lottery supplier they are acquiring for a projected $750 million USD ($1 billion CAD).

DK said at the time of that announcement in February that it expects the purchase to result in between $260m to $340m USD ($353m to $462m CAD) in incremental revenue in the 2026 fiscal year as it enters the U.S. digital lottery vertical. That projected journey is one for which Robins wants Park to be in the driving seat.

DraftKings level new accusations at former employee

Park and Ellingson aren’t the only DraftKings employees in the news right now.

In a new filing, DraftKings said new information has come to light that proved former staffer Mike Hermalyn, who left for Fanatics days before the 2024 Super Bowl, stole company documents and attempted to persuade employees of the company join him at Fanatics.

DraftKings launches new responsible gambling tool

Last week, DraftKings launched a new responsible gambling tool, My Stats Sheet, which allows players to view and track their personal stats through a series of “intuitive” charts and filtering options.

The tool is intended to empower players to make data-driven decisions on their own play and is now available on all DraftKings and Golden Nugget Products.

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