Draftkings Completes Business Combination And Trades On Nasdaq

DraftKings has completed its business combination with SBTech and Diamond Eagle Acquisition Corp and will launch its official ticker symbol, ‘DKNG,’ listed on the Nasdaq Stock Exchange.

As a result of the combination approved yesterday by Diamond Eagle stockholders, the firm comments on the establishment of “the only vertically integrated, pure-play sports betting and online gaming company based in the United States with full control of its backend technology and trading platform.”

Jason Robins co-founder and CEO of DraftKings said: “Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America.

“By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best, most innovative sports and gaming products to our customers.”

In addition to Robins, a management team that includes Matt Kalish, co-founder and president of North America, Paul Liberman, co-founder and president of global technology and company, R Stanton Dodge, chief legal officer and Jason Park, chief financial officer, will continue to lead DraftKings. Robins will also serve as board president with Diamond Eagle’s Harry Sloan serving as vice chair.

With about 2,300 staff worldwide, DraftKings will retain its global headquarters in Boston and additional US-based hubs in Hoboken, Las Vegas, New York and San Francisco, as well as international offices including Dublin, Kyiv, Plovdiv, Sofia and Tel Aviv.

Slain said earlier about transaction:

“We are pleased to bring DraftKings and SBTech together as one public company. 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 capitalisation, DraftKings will be in a great position to continue its ambitious expansion plans in the United States.

“I have known Jason Robins for four years, and consider him a true entrepreneur. I believe our investors share my utmost respect for his vision and leadership.”