DraftKings
DraftKings Reaches Agreement to Acquire Jackpocket for $750 Million
DraftKings Inc. announced that it has reached an agreement to acquire Jackpocket, the leading lottery app* in the United States, for total consideration of approximately $750 million, with approximately 55 percent of the consideration payable in cash funded from the Company’s balance sheet with no capital raise required and approximately 45 percent of the consideration payable in the Company’s Class A common stock, subject to customary purchase price adjustments and the collar mechanism described below (the “Proposed Transaction”).
Jackpocket is the leading provider of digital lottery services in the U.S. with proprietary and highly-scalable technology, a strong brand, and an outstanding founder-led management team. The Proposed Transaction will enable DraftKings to access and grow into the massive U.S. lottery industry, but more importantly strengthen its position in Sportsbook and iGaming through higher customer lifetime value – based on demonstrated cross-sell capabilities – and an enhanced customer acquisition engine.
“We are very excited to enter the rapidly growing U.S. digital lottery vertical with our acquisition of Jackpocket,” said Jason Robins, Co-founder and CEO of DraftKings. “This transaction will create significant value for DraftKings not only by giving our customers another differentiated product to enjoy but also by improving our overall marketing efficiency similar to how our daily fantasy sports database created an advantage for DraftKings in OSB and iGaming.”
“Together with DraftKings, we will be able to bring tremendous value to our customer base as we advance our mission to create a more convenient, fun, and responsible way to take part in the lottery,” said Peter Sullivan, CEO of Jackpocket. “DraftKings’ broad footprint and exceptional mobile products present an opportunity to meaningfully expand the digital lottery vertical, and we could not be more excited to come together with DraftKings.”
Swedish-founded gaming giant live in New Jersey, Michigan, Connecticut, and now Pennsylvania and West Virginia with top-tier operators
Play’n GO, the world’s leading casino entertainment provider, has today announced a five-state partnership with leading US operator DraftKings, which also includes its sister brand, Golden Nugget.
Having launched in New Jersey, Michigan, and Connecticut earlier this year, today marks a clean sweep of five regulated states where Play’n GO is active and in partnership with DraftKings. To date, DraftKings players in the aforementioned states have enjoyed classic Play’n GO titles such as Piggy Blitz, Fire Joker, and the game taking the US by storm, Colt Lightning Firestorm, all of which are now available in Pennsylvania and West Virginia too.
Play’n GO first partnered with DraftKings in May 2024, and have wasted no time in launching in each regulated state. Having first launched in the US in July 2022, Play’n GO is now live in five US states with multiple operators.
Magnus Olsson, Chief Commercial Officer at Play’n GO, commented “The DraftKings and Golden Nugget brands are synonymous with gaming in the US, and we are excited to further strengthen our partnership with both brands by expanding into these fourth and fifth states together. We believe our games portfolio, our preference for direct integration, and our commitment to listening to our customers all make us the best casino entertainment provider in the world, and the ideal partner for any operator. We are proof that a sustainable, entertainment-led business model is the key to success in the long-term, and we believe that this will allow us to continue providing world-class content in the US and beyond for many years to come.”
DraftKings, one of North America’s leading operators, has gone live with EveryMatrix casino content in Ontario, Canada – the tier-1 supplier’s latest entry into a large iGaming jurisdiction in North America.
EveryMatrix will provide DraftKings customers in Canada’s largest province with games from its in-house studios including Armadillo Studios via seamless integration with SlotMatrix, its proprietary B2B aggregation and content provision offering.
The Ontario launch is the second North American territory to see EveryMatrix content go live with DraftKings, following New Jersey in June last year.
The leading iGaming technology provider is the industry’s largest content aggregator and has secured commercial agreements with several tier-1 operators in the US through SlotMatrix.
EveryMatrix has more than 300 global customers with North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.
Erik Nyman, President, EveryMatrix Americas, said: “EveryMatrix is thrilled to expand our partnership with DraftKings into Canada and the largest province, Ontario.
“This means we now reach half of the country’s population and marks yet another important milestone for the company. DraftKings is one of the largest iGaming and sportsbook operators in North America and we are one step closer to full market penetration with them.”
“DraftKings passing on the surcharge to its customers feels like an abuse of power in markets where customers are not always spoiled for choice,” said Neil Roarty, head of North American publishing at ClickOut Media.
“Regulation of sports betting was supposed to provide more customer protection. However, if the brand with the highest market share can just whack a charge on players because it doesn’t want to pay more in taxes, then the whole concept of legal sports betting becomes questionable.
“Would this happen in any other industry? A market leader should not be able to hike up prices with customers having no option but to pay it. Another option of course is that they simply choose to play elsewhere.”
-
Balkans7 days agoEGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
-
Bragg7 days ago
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
-
Amusnet7 days ago
Amusnet Joins GAT Caribe Cancún to Showcase Gaming Excellence
-
Australia7 days ago
ACMA: Tabcorp Pays $262,000 Penalty for Illegal In-Play Bets
-
Compliance Updates7 days ago
Massachusetts Gaming Commission Launches Official Seal of Approval
-
Latest News7 days ago
Week 46/2024 slot games releases
-
Africa4 days ago
South Africa: Tribunal Grants Lottoland Interim Relief – Orders Google to Grant Lottoland Access to its Advertising Platform
-
Latest News7 days ago
The MGA publishes its 2023 Annual Report and Financial Statements
