DraftKings Inc. is acquiring Jackpocket, a digital lottery app, for $750 million. The deal involves 55% cash and 45% DraftKings stock.
This move allows DraftKings to enter the U.S. lottery market. They predict Jackpocket will bring in $260-$340 million in revenue by 2026, growing to $350-$450 million by 2028.
The deal, consisting of $412.5 million cash and $337.5 million in stock, should finalize in the second half of 2024.
This move allows DraftKings to enter the U.S. lottery market. They predict Jackpocket will bring in $260-$340 million in revenue by 2026, growing to $350-$450 million by 2028.
The deal, consisting of $412.5 million cash and $337.5 million in stock, should finalize in the second half of 2024.
