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Sports betting giant DraftKings is going public with a triple-merger deal and a $3.3 billion valuation

DraftKings

  • Sports betting platform DraftKings plans to go public in the first half of 2020 after merging with acquisition firm Diamond Eagle and betting technology company SBTech, according to a company statement.
  • The combined firm will tout a market cap of roughly $3.3 billion, including more than $300 million in new investment from Capital Research and Management, Wellington Management, and Franklin Templeton.
  • DraftKings co-founder and CEO Jason Robins will lead the company following its initial public offering, and SBTech management will remain involved in the firm, according to the statement.
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Source:: BusinessInsider.Com