Back to News
Mergers & Acquisitions

DraftKings Hits Public Market With SPAC Merger

Published: June 22nd, 2020
The daily fantasy and sports betting company has agreed to a merger with special purpose acquisition company Diamond Eagle Acquisition.

Those betting DraftKings was due for the public markets may have just hit pay dirt.

The daily fantasy company and recent entrant in to the sports betting scene has agreed to a merger with special purpose acquisition company Diamond Eagle Acquisition Corp. that will bring the Boston-based company public.

As part of the deal, which will create a $3.3 billion-in-market-cap company, DraftKings will merge with SBTech, an online gaming platform that provides technology to sports books including Churchill Downs, Virgin Bet and Golden Nugget online casinos.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Mergers & Acquisitions


The Deal Honors Top Women in Dealmaking

By The Deal Staff
Published: January 24th, 2021
The Deal honors exemplary women in the legal profession with a focus on M&A, private equity, restructuring and activist investing in this year's Top Women in Dealmaking list.
Mergers & Acquisitions

Drinks With The Deal: Goodwin Procter's Stuart Cable

By David Marcus
Published: January 7th, 2021
The vice chair and head of M&A discusses building the firm's biotech practice, helping Covid-19 vaccine developer Moderna grow over the years and recent transformational deals in the latest episode of the podcast.
Mergers & Acquisitions

Drinks With The Deal: Bryan Cave's Stephanie Hosler

By David Marcus
Published: December 18th, 2020
Hosler, who heads Bryan Cave Leighton Paisner's corporate and finance transactions group, talks about her experiences as a Latina M&A lawyer and her desire to help create a more diverse workplace on the latest Drinks With The Deal podcast.