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DraftKings Inc

DraftKings Completes Acquisition of Jackpocket





DraftKings Inc. announced the completion of its previously announced proposed acquisition of Jackpocket Inc., the leading digital lottery app in the US.

“Today we are announcing the completion of our acquisition of Jackpocket, and the commencement of our value creation plan. We are well-prepared to quickly launch cross-sell programs, further improve customer acquisition efficiency, and continue to innovate and differentiate with our overall product portfolio for our customers. We look forward to continuing to deliver enhanced value to our customers and shareholders as we integrate Jackpocket into the DraftKings ecosystem,” Jason Robins, CEO and Co-founder of DraftKings, said.

Jackpocket is renowned for its innovative digital lottery services, robust technology infrastructure, and strong brand presence. This acquisition empowers DraftKings to tap into the expansive U.S. lottery vertical, while expanding its position in sportsbook and iGaming by enhancing customer lifetime value and bolstering customer acquisition capabilities.

“The completion of the acquisition represents an exciting new chapter for Jackpocket and DraftKings alike. Together, we are confident that we will be even more capable of helping lotteries fulfill their mission of delivering revenue back to the beneficiaries they support. DraftKings’ proven reach and cutting-edge mobile platforms will continue to allow us to drive growth and innovation in the digital lottery vertical,” Peter Sullivan, CEO of Jackpocket, said.


Daniel Umfleet

DraftKings and Kindbridge Behavioral Health Expand Program That Provides Treatment Resources for Individuals Experiencing Potential Indications of Problem Gaming





DraftKings Inc. announced an expanded relationship with Kindbridge Behavioral Health (Kindbridge) to provide access to therapy and treatment for problem gaming in every jurisdiction where DraftKings operates its online sportsbook and iGaming products. DraftKings and Kindbridge, a pioneering mental health service provider dedicated to supporting individuals facing challenges related to problem gaming, originally joined forces in September 2023 to launch a pilot program to deliver personalized support for sports bettors in Colorado.

“We appreciate the opportunity to deepen our collaboration with Kindbridge Behavioral Health and strengthen our commitment to providing important resources to those experiencing potential indications of problem gaming. We want everyone on our platform to engage in responsible play and we are committed to educating consumers on the multitude of resources offered. For those who recognize signs of problem gaming and decide to utilize our tools to self-exclude, they now have access to therapy and treatment free of cost through Kindbridge Behavioral Health,” said DraftKings Chief Compliance Officer Jennifer Aguiar.

After a successful launch of the program in Colorado last year, DraftKings and Kindbridge have established a system that effectively links self-excluded players with numerous support options, including receiving pertinent educational content, engaging in initial assessment calls, and scheduling initial counseling sessions.

“DraftKings’ integration of direct care into their platform, in collaboration with Kindbridge across 25 states, marks a significant step in enhancing player health. This effort underlines our commitment to combat problem gaming with personalized, accessible support. This collaboration sets a new industry benchmark for comprehensive care, ensuring swift and essential support is accessible to those in need,” said Daniel Umfleet, CEO of Kindbridge.


Beginning April 1, every customer in the 25 states where DraftKings operates its online sportsbook and iGaming products and in Ontario, will have access to comprehensive mental health assessments, care providers, and personalized care plans via Kindbridge when they self-exclude within the DraftKings platform. This expanded partnership further enhances DraftKings’ long-standing commitment to investing in and providing access to resources that support player well-being. The joint initiative aims to not only aid individuals facing challenges, but also provide valuable insights and data into the effectiveness of treatment resources for those who seek assistance via online gaming platforms.

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Alan Ellingson

DraftKings Announces Leadership Changes to Increase Focus on Operational Efficiencies





DraftKings Inc. announced that Jason Park, DraftKings’ Chief Financial Officer, will become the Company’s Chief Transformation Officer, effective as of May 1, 2024. In this newly created role, Mr. Park will lead initiatives to deploy cutting edge technologies to capture additional operating efficiencies as well as oversee the integration of the proposed acquisition of Jackpocket Inc. (Jackpocket). Alan Ellingson, DraftKings’ Senior Vice President, Finance and Analytics, will be elevated to Chief Financial Officer, effective as of May 1, 2024. Mr. Ellingson will continue to enhance shareholder value over time by driving the Company toward its financial objectives.

Jason Robins, Chief Executive Officer and Co-Founder of DraftKings, said: “I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years. Jason’s unique skill set, based on his accomplishments over the last five years as our Chief Financial Officer and 11 years as a private equity Operating Partner, will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming. There are also potentially transformational AI applications on the horizon that could change the way businesses operate and serve their customers to create potential long-term advantages.”

Mr. Park joined DraftKings as Chief Financial Officer in June 2019 and oversaw the Company’s transition to the public markets. During his tenure as Chief Financial Officer, DraftKings’ revenue grew from $323 million in 2019 to $3,665 million in 2023. The Company also produced positive Adjusted EBITDA in the second and fourth quarters of 2023 due in part to Mr. Park’s leadership of operational efficiency programs. In addition, from the Company’s initial trading day on July 25, 2019, through March 15, 2024, the Company’s stock price increased more than 325%.

Jason Park said: “I am thrilled to take on this new role which tackles several significant opportunities to improve how we operate and taps into my passion for building great and highly efficient companies. Alan is perfectly suited to seamlessly step into the Chief Financial Officer role as an established company leader with deep credibility across the entire organization. I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation program during our next earnings call.”


Alan Ellingson joined DraftKings in 2020 and currently serves as the Company’s Senior Vice President, Finance and Analytics. For the past four years, Mr. Ellingson has worked closely with Mr. Park to develop a world-class finance and accounting organization, which includes building the forecasting capabilities that support the creation, tracking and ongoing refresh of the Company’s multi-year financial objectives.

Jason Robins added: “I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”

Alan Ellingson, incoming Chief Financial Officer, said: “We have built a world class finance organization, and I look forward to expanding my leadership role with the team. In addition, I look forward to working closely with Jason Robins to deliver outstanding financial performance and generate incredible shareholder returns.”

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Chief Executive Officer and co-founder

DraftKings Announces Plans to Launch Online Sportsbook in Maine Through Deal with Passamaquoddy Tribe




Yesterday, DraftKings Inc. (Nasdaq: DKNG) announced it has reached an agreement in principle, subject to licensing and regulatory approvals, with the Passamaquoddy Tribe paving the way for the launch of its online sportsbook in Maine.

“Building a relationship with the Passamaquoddy Tribe is a fantastic opportunity for DraftKings, as we look to bring customers in the state of Maine safe and legal sports betting,” said Jason Robins, Chief Executive Officer and co-founder, DraftKings. “We look forward to our continued collaboration with the Maine Gambling Control Unit as we become the official mobile sports betting provider of the Passamaquoddy Tribe and launch in our industry-leading 25th state.”

The agreement between DraftKings and the Passamaquoddy Tribe will allow sports fans 21 years of age and older to access DraftKings’ innovative, immersive and entertaining sportsbook app experience that includes a variety of wagering options including pre-match and in-game options as well as signature, built in-house same-game-parlay features.

“The Passamaquoddy Tribe is excited to enter into a mobile sports wagering agreement with DraftKings,” said Chief William Nicholas, Passamaquoddy Tribe. “We couldn’t have landed a better organization in the mobile sports wagering arena, and we look forward to continued progress and investment for future growth in the state of Maine.”

“The Passamaquoddy Tribe at Sipayik is incredibly thrilled to have a mobile sports wagering deal with DraftKings,” said Chief Pos Bassett, Pleasant Point Tribal Government. “They are the industry leaders, and we are excited to be a part of bringing a first-class mobile sports wagering experience to Maine. This is a huge step forward for my community and the state.”


In response to the tragic events in Lewiston, ME on October 25, DraftKings will be donating $100,000 to Lewiston-Auburn Area Response Fund to support those affected. With Maine Community Foundation (MaineCF) as a conduit, 100% of every dollar donated will be allocated to people impacted and the organizations that will help guide Lewiston-Auburn through the process of healing. Donations to the Lewiston-Auburn Area Response Funds will be distributed with deep community guidance, including from MaineCF’s statewide board, engagement by MaineCF’s Androscoggin County Committee, and community steering committees.

An active member of the American Gaming Association (“AGA”), DraftKings is committed to promoting the AGA’s Have A Game Plan.® Bet Responsibly™ public service campaign, which educates customers on responsible gaming best practices, such as establishing and adhering to a budget and only engaging with legal, regulated operators. DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine and innovate through the DraftKings S.E.R.V.E.S. program.

Eligible customers in Maine can access the latest betting markets and more by downloading the DraftKings Sportsbook app available via iOS and Android. To become a DraftKings Dynasty Rewards member, visit sportsbook.draftkings .com/dynasty. For problem gambling support or services, please call 1-800-GAMBLER. Persons under 21 years of age may not participate in sports wagering.

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