DraftKings has submitted a $195m bid for PointsBet’s US belongings in an try and hijack Fanatics’ present $150m supply. [Image: Shutterstock.com]
DraftKings has entered the race to buy the US belongings of sportsbook operator PointsBet. It introduced on Friday that it submitted an all-cash bid of $195m to the Australia-based firm’s CEO and non-executive chairman.
Fanatics, primarily a sports activities merchandise firm, introduced final month that it was to buy these belongings for $150m. The 2 events had been assured that the deal would shut on the time and a PointsBet shareholder vote was to happen on June 30 to approve the bid.
a suggestion that’s value 30% greater than what’s already on the desk
Now it seems that DraftKings is making an attempt to swoop in with a suggestion that’s value 30% greater than what’s already on the desk. DraftKings co-founder and CEO Jason Robins believes that this potential transaction would permit his firm to “prudently capitalize” on a compelling alternative at a pretty valuation. He mentioned DraftKings’ scale and “skill to generate significant synergies” are different compelling components for PointsBet to contemplate.
DraftKings Chief Monetary Officer Jason Park believes an acquisition of PointsBet’s US belongings would offer new wager sorts to prospects and assist speed up the plan to carry extra of DraftKings’ cell sportsbook know-how in-house.