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DraftKings Makes Surprise $195M Bid for PointsBet U.S. Assets

Jun 16, 2023

Market competition in the still-developing U.S. sports betting market has heightened dramatically as DraftKings has made a surprise bid for the American assets of PointsBet.

The Massachusetts-based DraftKings has submitted a $195 million, all-cash, and unsolicited bid for PointsBet’s U.S. operations, seeking to supplant the $150 million deal Fanatics made for that company a month ago.

DraftKings — looking to outflank the oncoming market threat from well-capitalized Fanatics — argues that not only is it offering to pay a 30% premium, but that its bid offers a shorter path for regulatory approvals, greater market synergies, and simpler deal terms.

Source: Front Office Sports

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