DraftKings End Discussions with Entain

DraftKings has confirmed that it has terminated talks with Entain, with a takeover deal no longer on the table. 

This comes after DraftKings made two proposals to acquire Entain last month. The first proposal valued the business at £25.00 per share and was made up of both cash and stock. The second offer took the value of Entain up to £28.00n which was also rejected by the board.

Chief executive, Jason Robins, claimed that the business was confident in its technology and brand.

“After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time,” Robins said.

“Based on our vertically-integrated technology stack, best-in-class product and technology capabilities and leading brand, we are highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market.”