DraftKings begins trading on Nasdaq following SBTech combination24th April 2020 9:04 am GMT
America’s first pure-play sports betting and online gaming business will begin trading on the Nasdaq Global Select Market today following completion of the business combination between DraftKings, SBTech and Diamond Eagle Acquisition Corp.
The business combination was first announced in December 2019 and brings together leading US sports betting operator DraftKings with sports betting technology supplier SBTech and Nasdaq-listed special purpose acquisition company Diamond Eagle Acquisition Corp (DEAC).
Following DEAC shareholder approval on April 23, DEAC will now be known as DraftKings Inc., with the company’s shares trading on Nasdaq under the ticker symbol DKNG and its warrants under the ticker symbol DKNGW.
“Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America,” said Jason Robins, co-founder and CEO of DraftKings.
“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.”
The combined business will continue to be led by Robins and its highly experienced management team of 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 DEAC serving as vice-chair.