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DraftKings Announces Leadership Changes to Increase Focus on Operational Efficiencies

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DraftKings Inc. announced that Jason Park, DraftKings’ Chief Financial Officer, will become the Company’s Chief Transformation Officer, effective as of May 1, 2024. In this newly created role, Mr. Park will lead initiatives to deploy cutting edge technologies to capture additional operating efficiencies as well as oversee the integration of the proposed acquisition of Jackpocket Inc. (Jackpocket). Alan Ellingson, DraftKings’ Senior Vice President, Finance and Analytics, will be elevated to Chief Financial Officer, effective as of May 1, 2024. Mr. Ellingson will continue to enhance shareholder value over time by driving the Company toward its financial objectives.

Jason Robins, Chief Executive Officer and Co-Founder of DraftKings, said: “I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years. Jason’s unique skill set, based on his accomplishments over the last five years as our Chief Financial Officer and 11 years as a private equity Operating Partner, will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming. There are also potentially transformational AI applications on the horizon that could change the way businesses operate and serve their customers to create potential long-term advantages.”

Mr. Park joined DraftKings as Chief Financial Officer in June 2019 and oversaw the Company’s transition to the public markets. During his tenure as Chief Financial Officer, DraftKings’ revenue grew from $323 million in 2019 to $3,665 million in 2023. The Company also produced positive Adjusted EBITDA in the second and fourth quarters of 2023 due in part to Mr. Park’s leadership of operational efficiency programs. In addition, from the Company’s initial trading day on July 25, 2019, through March 15, 2024, the Company’s stock price increased more than 325%.

Jason Park said: “I am thrilled to take on this new role which tackles several significant opportunities to improve how we operate and taps into my passion for building great and highly efficient companies. Alan is perfectly suited to seamlessly step into the Chief Financial Officer role as an established company leader with deep credibility across the entire organization. I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation program during our next earnings call.”

Alan Ellingson joined DraftKings in 2020 and currently serves as the Company’s Senior Vice President, Finance and Analytics. For the past four years, Mr. Ellingson has worked closely with Mr. Park to develop a world-class finance and accounting organization, which includes building the forecasting capabilities that support the creation, tracking and ongoing refresh of the Company’s multi-year financial objectives.

Jason Robins added: “I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”

Alan Ellingson, incoming Chief Financial Officer, said: “We have built a world class finance organization, and I look forward to expanding my leadership role with the team. In addition, I look forward to working closely with Jason Robins to deliver outstanding financial performance and generate incredible shareholder returns.”

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Full House Resorts Announces Promotion of Lewis Fanger to President

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Full House Resorts Inc. announced that it has promoted Lewis Fanger to President, Chief Financial Officer, and Treasurer, effective July 11, 2025. The title of President was previously held by Daniel Lee, the Company’s Chief Executive Officer. As previously disclosed, Mr. Lee extended his employment agreement as the Company’s Chief Executive Officer in June 2025.

“Since our arrival approximately ten years ago. Full House Resorts has undergone a significant transformation, from a small regional casino operator to one of the fastest-growing companies in our industry. Lewis’s financial leadership has helped enable that growth, allowing us to improve our existing assets and expand the Company through new developments such as American Place and Chamonix. Lewis has been an invaluable part of our team over the past decade, and his promotion to President will help ensure a continuity of leadership,” Mr. Lee said.

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NCPG Announces 2025 Board of Directors Election Results and Board Leadership

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The National Council on Problem Gambling (NCPG) has announced the newly elected members of its Board of Directors, as well as the slate of officers who will lead the organization for the upcoming year.

Following the annual election in June, NCPG members voted to elect the following individuals to serve on the Board of Directors from 2025 to 2028:

• Diana Goode – Affiliates Seat

• Wiley Harwell – Affiliates Seat

• Lori Manson – Affiliates Seat

• Glenn Yamagata – Affiliates Seat

• Jamie McKelvey – Organizations Seat

• Amanda Quintana – Organizations Seat

• Brian Ward – Individuals Seat

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Glenn Yamagata and Jamie McKelvey will serve a two-year term from 2025 to 2027.

In addition, the Board has elected the following officers to lead NCPG for the 2025–26 term:

• President: Derek Longmeier, Executive Director, Problem Gambling Network of Ohio

• Vice President: Christina Gray, Executive Director, Indiana Council on Problem Gambling

• Secretary: Wiley Harwell, Executive Director, Oklahoma Council on Problem Gambling and Gaming

• Treasurer: Amanda Quintana, Player Health Manager, Colorado Lottery

The Board’s esteemed leadership and expertise are instrumental in fostering NCPG membership, shaping policies, implementing strategies, and attaining organizational objectives. By leveraging their subject matter knowledge, skills, and experience, Board members are dedicated to serving all NCPG stakeholders through the development of comprehensive policies and programs for all those affected by problem gambling.

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SharpLink Gaming Announces $425,000,000 Private Placement to Initiate Ethereum Treasury Strategy

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SharpLink Gaming Announces $425,000,000 Private Placement to Initiate Ethereum Treasury Strategy

 

SharpLink Gaming Inc. announced that it has entered into securities purchase agreements for a private investment in public equity (PIPE) for the purchase and sale of 69,100,313 shares of common stock (or common stock equivalents in lieu thereof) at a price of $6.15 per share ($6.72 per share for certain members of the Company’s management team), for expected aggregate gross proceeds of approximately $425,000,000, before deducting placement agent fees and other offering expenses.

Consensys Software Inc. acted as the lead investor, and the offering included participation by prominent crypto venture capital firms and infrastructure providers such as ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, Galaxy Digital, Ondo, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital among others including Rob Phythian, SharpLink’s CEO, and Robert DeLucia, SharpLink’s CFO.

The closing of the offering is expected to occur on or about May 29, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the funds to acquire the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH” pending identification of working capital needs and other general corporate purposes. ETH will serve as the Company’s primary treasury reserve asset.

A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the offering.

“This is a significant milestone in SharpLink’s journey and marks an expansion beyond our core business. On closing, we look forward to working with Consensys and welcoming Joseph to the Board,” said Rob Phythian, Founder and CEO of SharpLink.

“On close, Consensys looks forward to partnering with SharpLink to explore and develop an Ethereum Treasury Strategy and to work with them in their core business as a strategic advisor. This is an exciting time for the Ethereum community, and I am delighted to work with Rob and the team to bring the Ethereum opportunity to public markets,” said Joseph Lubin, Founder and CEO of Consensys and Co-Founder of Ethereum.

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