Sports betting giant DraftKings has been cleared to become a public company following approval of a merger with SBTech and Diamond Eagle Acquisition, the public acquisition vehicle headed by indust…
Diamond Eagle Acquisition Corp., led by Sloan, announced Wednesday that it had received the approval from the Securities and Exchange Commission and is now moving to the final step in the process. An April 23 meeting has been scheduled for DEAC shareholders to vote on the business combination with DraftKings and SBTech.
Boston-based DraftKings offers mobile and online sports betting in Indiana, New Jersey, Pennsylvania and West Virginia, and sports betting at retail locations in Iowa, Mississippi, New Jersey and New York. The DraftKings deal was orchestrated by Sloan, who has launched six public acquisition vehicles with Sagansky since 2011. Diamond Eagle bowed in May with a $400 million public offering.
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