DFS and sports betting operator DraftKings Inc has achieved public listing on the Nasdaq Global Select Market this week. The firm confirmed on Thursday that it had completed its business combination with sports gaming technology supplier SBTech and Diamond Eagle Acquisition Corp (DEAC).
The business combination, which was approved on April 23, 2020, by DEAC’s stockholders, creates the only vertically integrated pure-play sports betting and online gaming company based in the US.
DraftKings’ shares of Class A common stock will now trade on the Nasdaq Global Select Market under the ticker symbol “DKNG” and its warrants will trade on Nasdaq under the ticker symbol “DKNGW”.
Co-Founder and CEO Jason Robins described the development as marking “another milestone for DraftKings and the future of digital sports entertainment and gaming in America”.
He said: “By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best, most innovative sports and gaming products to our customers.”
DraftKings will continue to be led by Robins and the management team which includes Co-Founder and President, North America, Matt Kalish; Co-Founder and President, Global Technology and Product, Paul Liberman; Chief Legal Officer, R Stanton Dodge; and Chief Financial Officer Jason Park.
Robins will also serve as Chairman of the Board with Harry Sloan of Diamond Eagle serving as Vice Chair.
The firm, which employs circa 2,300 workers, will maintain its global headquarters in Boston, as well as additional US-based offices in Hoboken, Las Vegas, New York and San Francisco, and international offices including Dublin, Kyiv, Plovdiv, Sofia and Tel Aviv.