DraftKings To Go Public, Combine With SBTech

DraftKings is going public in a deal that values a new combination of the company and gambling technology provider SBTech at about $3.3bn, the Boston-based group announced Monday.

The company said it has agreed to be sold, alongside SBTech, to Diamond Eagle Acquisition Corporation, a publicly traded special purpose acquisition company.

The combined group will house both DraftKings and Isle of Man-based SBTech under the name DraftKings Inc. It did not give details about its planned public offering, other than say a listing would occur in 2020.

“We are pleased to bring DraftKings and SBTech together as one publicly traded company,” said Harry Sloan, founding investor of Diamond Eagle.

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