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DraftKings

DraftKings Reaches Agreement to Acquire Jackpocket for $750 Million

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2 months ago

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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.”

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DraftKings

Lori Kalani to Join Draftkings as First Chief Responsible Gaming Officer

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3 days ago

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April 24, 2024

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DraftKings announced the appointment of Lori Kalani as Chief Responsible Gaming Officer reporting to DraftKings’ chief executive officer, Jason Robins. Kalani becomes DraftKings’ first Chief Responsible Gaming Officer committed to the continued elevation and integration of the company’s player safety and protection activities and initiatives across all facets of its platforms and player communities.

“Responsible gaming is one of our top priorities and it is a core part of our mission to build games that our customers can enjoy responsibly. In this leadership role, Lori will further advance our responsible gaming initiatives and uphold our commitment to setting new industry standards,” Jason Robins, CEO and Co-Founder of DraftKings, said.

Leveraging a systems-based approach, DraftKings’ responsible gaming initiatives utilize, among other things, technology, employee training, evidence-based research, collaboration with third parties and advocacy groups, and comprehensive player education to promote responsible play across all platforms and all player communities, and to provide players with tools to help them manage their play responsibly.

“I have long admired DraftKings’ impact as an entertainment and engagement platform that brings a community of gaming enthusiasts together. Joining DraftKings represents an exciting opportunity for me to bolster the efforts of the company and look for opportunities to reinforce our responsible gaming initiatives. I am eager to partner with colleagues, regulators, industry leaders, and community advocates to further demonstrate DraftKings’ commitment to responsible gaming and promote a healthy gaming environment for all customers,” said Lori Kalani.

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Kalani’s extensive experience in consumer protection law and proven accomplishments in developing working relationships with regulators, attorneys general and other key stakeholders will enable her to effectively work alongside DraftKings’ Compliance team to further cultivate DraftKings’ dedication to best-in-class consumer safety and protection practices.

Kalani previously was a partner at the Cozen O’Connor law firm and Co-Chaired the State Attorneys General practice. Her extensive background spans diverse industries including gaming, social media, telecommunications, hospitality and healthcare. Kalani’s nuanced understanding of regulatory environments and her expertise in representing clients in industry-shaping challenges that intersected law, politics, and policy make her the ideal leader to advance DraftKings’ responsible gaming initiatives.

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DraftKings

KT Group is the betting terminal of choice for the Kentucky Derby and Wrigley Field this season

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2 weeks ago

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April 11, 2024

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KT Group is excited to announce that its Whizz kiosks have been selected as the preferred self-service betting terminals for two iconic locations: the Kentucky Derby and Wrigley Field this season. This selection by Churchill Downs and DraftKings solidifies KT Group’s position as a leader in innovative self-service solutions.
Whizz kiosks offer superior quality, functionality, and versatility, ensuring a seamless and enhanced betting experience for patrons at these prestigious events. With industry leaders like Churchill Downs and DraftKings choosing Whizz kiosks, KT Group further strengthens its reputation as a trusted provider of cutting-edge self-service solutions in the betting industry.
The Kentucky Derby, often dubbed “The Run for the Roses,” stands as one of the most prestigious events in the world of horse racing. Held annually on the first Saturday in May at Churchill Downs in Louisville, Kentucky, the Derby attracts thousands of spectators and enthusiasts from around the globe.
“The Kentucky Derby’s rich heritage, dating back to 1875, is truly unmatched,” said Kenneth Larsen, founder of KT Group. “From the mint julep tradition to the stirring rendition of ‘My Old Kentucky Home,’ the event embodies Southern charm. We’re incredibly proud to be providing our products to be enjoyed by customers at such an iconic venue.”
Wrigley Field stands as an iconic symbol of baseball history and tradition. Located in Chicago, Illinois, Wrigley Field is the beloved home ballpark of the Chicago Cubs, one of Major League Baseball’s oldest and most storied franchises. Opening its gates in 1914, Wrigley Field has witnessed countless memorable moments and legendary players throughout its century-long history.
“Wrigley Field’s charm is undeniable,” said Kenneth Larsen, founder of KT Group. “From the ivy-covered walls to the iconic marquee, it’s a place steeped in baseball history.  And while the roar of the crowd during a close game is unmatched, Wrigley Field’s recent evolution into a multifaceted entertainment destination is exciting. We’re thrilled to be a part of providing fans with an unforgettable experience, whether they’re there for a Cubs game, a concert, or something entirely new.”
“We are incredibly proud to have our Whizz family of kiosks chosen as the betting terminals for esteemed venues like the Kentucky Derby and Wrigley Field,” says Kenneth “It’s an honour to partner with iconic brands such as Churchill Downs and DraftKings to provide cutting-edge self-service solutions for these landmark events.”
He continued, “The selection of Whizz kiosks for these high-profile events underscores our commitment to delivering cutting-edge technology and exceptional service to our clients. With a focus on innovation and customer satisfaction, KT Group continues to revolutionise the self-service industry, empowering businesses to enhance their operations and provide unparalleled experiences to their customers.”
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Boxes

Hacksaw Gaming and DraftKings Score Again in Ontario

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1 month ago

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March 27, 2024

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2023 saw Hacksaw Gaming go live in West Virginia and New Jersey and now we have made our long-awaited entry in Ontario, Canada. Securing this trio has hit new heights and hopes for further successes throughout the rest of this year.

DraftKings Casino entered the iGaming market in Ontario in May of 2022 and partnered with Hacksaw Gaming in the back end of the same year. As Ontario’s regulated iGaming market only went live in April of 2022, the pair have given an outstanding performance with effective launch strategies and expansive footing in North America.

Apart from gaining an unprecedented reach across regulated markets, the mobile-friendly format of Hacksaw Gaming games can be visited on phone or tablet via the DraftKings Casino app. Boasting an impressive online casino’s selection of over 300 games, DraftKings now welcomes Hacksaw Gaming favourites such as Chaos Crew, Mines, Omnom and Boxes.

“The benchmarks we have set as a partnership are remarkable and we are ready to take on more challenges continuing into 2024,” the Chief Executive Officer for Hacksaw Gaming, Marcus Cordes, said.

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