Similar consolidation acquisitions are expected to continue. completed a $4 billion acquisition of William Hill, the third-largest sportsbook operator in the country. In the statement, Jason Robins, DraftKings’ CEO, says the deal “creates meaningful synergies such as increased combined company revenues driven by additional cross-sell opportunities, loyalty integrations and tech-driven product expansion.' This deal follows Penn National Gaming's purchase of Score Media and Gaming, which runs sports betting platform theScore, for $2 billion last Thursday. The acquisition will allow DraftKings ‘to leverage Golden Nugget’s well-known brand, iGaming product experience and existing combined database of more than 5 million customers,” according to a statement released by DraftKings.
Online casino games, especially those involving live dealers, have been a boon for iGaming entities. Key Background:ĭraftKings, which owns a sizable share of the fantasy sports and sports betting market in the U.S., aims to expand its reach into the iGaming space. The market’s immediate reaction to the announcement was favorable, with DraftKings stock rising more than 3% and Golden Nugget Online Gaming nearly 50% in premarket trading.
