Industry News

DraftKings Reaches Late Stage Negotiations for Acquiring SBTech

Published

6 years ago

July 1, 2019

Niji Narayan

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DraftKings, the US based daily fantasy sports content provider, has reached the late stage negotiations for acquiring the online gambling and sports betting company SBTech.

Multiple sources have confirmed negotiations between the two parties, but as yet no information has been made available with regards to deal timings or provisions.

DraftKings did not confirmed the deal but stated “DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to discuss the specifics of any of those discussions.”

The takeover of SBTech would offer DraftKings the chance to avoid costly sports betting product development, securing an “in-house platform” through M&A. The estimated price that DraftKings could propose range between $300m and $500m to completely acquire SBTech.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.