Clicky

High Hopes as DraftKings Acquisition of SBTech Nears - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
sbtech-drafkings
Published on
Update on
Author

DraftKings, one of the most popular gaming operators in the United State is currently on the verge of completing its bid to acquire online gambling and sports betting company SBTech. The announcement of the acquisition plans came just a week after SBTech had appointed a new president for its operation in the United States. This acquisition deal is reportedly set to cost between $300 million and $600 million and is set to give DraftKings an even stronger footing in the rapidly growing online gambling and sports betting markets in the country.

As it turns out, SBTech which was founded by two Israeli entrepreneurs has already agreed on a sale to DraftKings. This will give DraftKings access to its own in-house platform providers as it rolls out more of its services across the United States. DraftKings, however, is yet to give any official statement on the matter but the company’s officials gave some hints about the company’s plans by saying:

“DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to discuss the specifics of any of those discussions.”

If the acquisition deal in indeed legitimate, it will be a great step in the right direction for DraftKings especially because it will finally be able to become a “one-stop shop” for online betting and sports wagering without having to rely on third parties. One of the third parties it has partnered with includes Kambi which currently facilitates its operations in New Jersey.

Rather than spend a ton of resources and money on its own platform, acquiring the SBTech will platform will make it the new owner of both an omnichannel sports betting platform and a robust gaming platform.

Other DraftKings Initiatives

DraftKings has evolved and grown tremendously since its early days as a daily fantasy sports provider. It has been a leader in terms of innovation and continues to pursue a number of impressive projects. One of its most recent innovations in the gaming space is a “Flash Bet” service that allows customers to place bets faster during tennis matches. This live wagering feature further compliments existing offerings especially considering the fact that it has become a crucial aspect of modern customer engagement and experience.

The feature is further powered by embedded graphics which allows the customers to follow the tennis ball as it travels in the court in real-time. DraftKings has plans to roll out this amazing feature to other sports in the future so be sure to look out for that.

Latest Headlines

Pennsylvania Land-based Casino Traffic Remains Low

The past year has been quite challenging for several businesses across the United States. Pennsylvania, like many other states, also suffered a huge blow to its economy. One of the biggest casualties in the state was the gambling sector. This was due to the closure of land-based gambling and entertainment venues as a response to […]

Record Revenue for Pennsylvania Casinos in May

The Keystone State’s online gambling sector has been through a lot since the COVID-19 pandemic hit. The worst of the pandemic is now behind us and the state’s gambling industry is already beginning to gain some level of normalcy. This has translated to very impressive revenues for the industry. The Pennsylvania Gaming Control Board (PGCB) […]

Barstool Sportsbook Coming to Pennsylvania Soon

Penn National Gaming, one of the most popular casino and entertainment operators in Pennsylvania is preparing to bring the first East Coast Barstool Sportsbook and bar. The operator plans to have this at its Hollywood Casino York, a mini-casino development that it will be launching later this year. Needless to say, this will be a […]

Pennsylvania Lottery Wins Commercial Gambling Lawsuit

While Pennsylvania is certainly one of the most vibrant gambling markets in the United States, there has not been a shortage of issues plaguing various aspects of these operations. Most of them have been relatively easy to handle but some have dragged out for quite some time. One of the most notable ones is a […]

Pennsylvania Casinos to Return to Full Capacity on Memorial Day

The past year or so has been incredibly tough for the retail gambling sector in Pennsylvania and the United States as a whole. However, after several months of speculation about when things could get back to normal, the country is finally ready to take things to the next step. One by one states have been […]

Similar Stories in Gambling

Pennsylvania Land-based Casino Traffic Remains Low

The past year has been quite challenging for several businesses across the United States. Pennsylvania, like many other states, also suffered a huge blow to its economy. One of the biggest casualties in the state was the gambling sector. This was due to the closure of land-based gambling and entertainment venues as a response to […]

Record Revenue for Pennsylvania Casinos in May

The Keystone State’s online gambling sector has been through a lot since the COVID-19 pandemic hit. The worst of the pandemic is now behind us and the state’s gambling industry is already beginning to gain some level of normalcy. This has translated to very impressive revenues for the industry. The Pennsylvania Gaming Control Board (PGCB) […]

Barstool Sportsbook Coming to Pennsylvania Soon

Penn National Gaming, one of the most popular casino and entertainment operators in Pennsylvania is preparing to bring the first East Coast Barstool Sportsbook and bar. The operator plans to have this at its Hollywood Casino York, a mini-casino development that it will be launching later this year. Needless to say, this will be a […]

PGCB Releases Gaming Revenue Figures for February 2021

The Pennsylvania Gaming Control Board (PGCB) on March 16 released a report detailing the performance of the state’s gambling industry. Generally speaking, the performance of most sectors was pretty solid especially because they all also have to deal with various efforts that will help to recover from the ravaging economic and social impacts of the […]