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Sports-betting company DraftKings Inc. posted higher revenue for the holiday quarter, but said it expects its adjusted loss to widen this year as it launches in new states like New York and Louisiana.

Online sports-betting companies, like Caesars Entertainment Inc. and Penn National Gaming Inc., are waging a costly turf war against one another to gain customers through aggressive marketing in key, newly legalized markets like New York, where mobile sports betting launched last month.

This post first appeared on wsj.com

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