DraftKings merges with SBTech and Diamond Eagle

US market leader DraftKings has agreed to a three-way merger with top industry platform and systems provider SBTech and sports entertainment fund Diamond Eagle Acquisition Corp.

The boards of each company have reached an agreement to create a new company that will trade under the name "DraftKings INC." The company intends to list on the US Nasdaq exchange.

With the approved merger, a new US betting behemoth with a market capitalization of an estimated $3.3 billion will be created.

 

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US market leader DraftKings has agreed to a three-way merger with top industry platform and systems provider SBTech and sports entertainment fund Diamond Eagle Acquisition Corp.

The boards of each company have reached an agreement to create a new company that will trade under the name "DraftKings INC." The company intends to list on the US Nasdaq exchange.

With the approved merger, a new US betting behemoth with a market capitalization of an estimated $3.3 billion will be created.

DraftKings, a leader in the US betting market, has announced a three-way merger with SBTech, a top platform provider, and Diamond Eagle Acquisition Corp., a sports entertainment fund. The merged entity, set to be named "DraftKings INC.," will be listed on the US Nasdaq exchange. This merger will create a powerful betting company with an estimated market capitalization of $3.3 billion, positioning it as a dominant force in the US sports betting and entertainment industry. The agreement marks a significant step in expanding DraftKings' influence in the growing market.