DraftKings not to make a firm offer for Entain

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Following further analysis and discussions with the Entrain board of directors, DraftKings has decided that it will not make a firm offer for Entain at this time. This decision follows the extension of the deadline announced earlier this month relating to DraftKings possible offer for Entain.

After exploring potential benefits of such a move for its and Entain’s shareholder including: expansion into regulated and regulating market, accelerated product growth, innovation in new and existing verticals, DraftKings, which remained “very focused on opportunities in the high growth North America market”, has decided not to make a firm offer. “After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time. Based on our vertically-integrated technology stack, best-in-class product and technology capabilities and leading brand, we are highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market”, commented Jason Robins DraftKings CEO, Co-Founder and Chairman of the Board.