DraftKings Completes Merge with SBTech

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DraftKings Inc., a Boston, MA-based digital sports entertainment and gaming company operating daily fantasy sports and mobile sports betting platforms, completed the business combination with SBTech (Global) Limited, an international provider of sports gaming technologies, and Diamond Eagle Acquisition Corp. (Nasdaq: DEAC).

The amount of the deal was not disclosed.

The combination creates a vertically integrated pure-play sports betting and online gaming company based in the United States.

Launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is a digital sports entertainment and gaming company operating daily fantasy, regulated gaming and digital media products. It is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S.

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DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia. Its daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. It is the official daily fantasy partner of the NFL as well as an authorized gaming operator of the MLB and NBA.

In addition to CEO Robins, DraftKings is led by Kalish, President, North America, Liberman, President, Global Technology and Product, R. Stanton Dodge, Chief Legal Officer, and Jason Park, Chief Financial Officer. Robins will also serve as Chairman of the Board with Harry Sloan of Diamond Eagle serving as Vice Chair.

Today, DraftKings has approximately 2,300 worldwide employees in global headquarters in Boston, as well as in additional U.S.-based offices in Hoboken, Las Vegas, New York and San Francisco, and international offices in Dublin, Kyiv, Plovdiv, Sofia and Tel Aviv.

Established in 2007, SBTech is a provider of interactive sports betting solutions and services to tier 1 operators in regulated markets across online, mobile and land-based channels. The sportsbook covers 50,000+ events a month, including over 25,000 in-play events, and offers 2,000+ proprietary bet markets on more than 50 sports. Its offerings also include an iGaming platform and an online casino.

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*Since April 24, 2020, DraftKings’ shares of Class A common stock have been traded on the Nasdaq Global Select Market under the ticker symbol “DKNG” and its warrants traded on Nasdaq under the ticker symbol “DKNGW”.

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