DraftKings Completes Business Combination with SBTech and Diamond Eagle Acquisition Corp
DraftKings Inc has announced the completion of its business combination with SBTech Limited and Diamond Eagle Acquisition Corp (DEAC). The Business Combination creates the only vertically integrated pure-play sports betting and online gaming company based in the United States.
DraftKings’ shares of Class A common stock will trade on the Nasdaq Global Select Market under the ticker symbol “DKNG” and its warrants will trade on Nasdaq under the ticker symbol “DKNGW.”
“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,” Jason Robins, co-founder and CEO of DraftKings, said.
In addition to Robins, DraftKings will continue to be led by its highly experienced management team including co-founder and President, North America, Matt Kalish; co-founder and President, Global Technology and Product, Paul Liberman; Chief Legal Officer, R. Stanton Dodge; and Chief Financial Officer Jason Park. Robins will also serve as Chairman of the Board with Harry Sloan of Diamond Eagle serving as Vice-Chair.
