When you sign-up through links on our site, we may earn an affiliate commission. Learn more >
DraftKings, SBTech, and Diamond Eagle Acquisition have officially merged.
The result makes the new entity, listed as DKNG, the first publicly traded Sportsbook on the New York Stock Exchange, valued at $2.7 billion.
This is a major step for not only DraftKings, but the world of online sportsbooks and sports betting.
It was announced in late-June of 2019 by several industry insiders that DraftKings was looking at purchasing SBTech.
The combination of the two companies now allies DraftKings with a sports betting technology company. They will be the first vertically-integrated sports betting and online gambling company in the United States.
Co-Founder of DraftKings Jason Robins stated:
The combination of DraftKings’ leading and trusted brand, deep focus on customer experience and data science expertise and SBTech’s highly innovative and proven technology platform creates a vertically-integrated powerhouse.
DraftKings’ acquisition of SBTech allows them to continue their rollout across the United States, as Sports Gambling Bills throughout each state battles for approval. Their plans for expansion also resonates with Diamond Eagle’s Harry Sloan:
DraftKings is already a premier online fantasy sports and betting platform. With the full integration of SBTech’s technology and innovative product expertise coupled with the right capitalization, DraftKings will be in a great position to continue its ambitious expansion plans in the United States.
Growth for all major sportsbooks may be in the cards after DraftKings’ massive announcement.
All that is left for DraftKings is an investors meeting planned for April 23rd. Should that meeting go off without a hitch, the newly merged company will officially go public.
DraftKings will be the first and only publicly traded sports betting and online gaming company in the United States.
There are currently 17 states where sports betting is legal. They are Arkansas, Delaware, Illinois, Indiana, Iowa, Michigan, Mississippi, Montana, Nevada, New Hampshire, New Jersey, New York, New Mexico, Oregon, Pennsylvania, Rhode Island, West Virginia.
Betting
North Carolina Sports Betting Legalization Coming Soon?
Betting | 30 May, 2023 | Caleb Tallman
Betting
New York 3rd Party Sports Betting Advertisers & Affiliates Legal Updates
Betting | 24 May, 2023 | Caleb Tallman
Betting
Fanatics Put Betting Promo Merchandise Combo Offer on Hold
Betting | 22 May, 2023 | Caleb Tallman
Christian Jope is a writer, social media strategist, and data analyst. A Queen’s University Alumni, Christian is an author and social media strategist with Raptors Cage, while also working closely with MLSE and Canada Basketball through community-driven events.
Email: [email protected]
More info on Christian Jope
© Rebel Penguin ApS 2023 (a subsidiary of Gaming Innovation Group Inc.)
We support responsible gambling. If you feel like you're losing control over your gambling experience, call
1-800-GAMBLER (NJ, PA, WV), 1-800-9-WITH-IT (IN), 1-800-BETS-OFF (IA), 1-800-522-4700 (NV), 1-800-522-4700
(CO,
TN), 1-855-2CALLGA (IL), 1-800-270-7117 (MI).
WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey
Division of Gaming Enforcement (DGE) under affiliate vendor ID
89744,
with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by
the
Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number
117656-1,
possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account
number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board,
an
interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery
Commission, a sports betting vendor registration, under registration number #100400, issued by the Director
of
Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a
Vendor
Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.
Advertising disclosure: WSN contains links to online retailers on its website. When people click on our
affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various
sportsbooks.