DraftKings (NASDAQ: DKNG) notes the announcement made by Entain
earlier today relating to the extension of the deadline, under Rule
2.6 of the City Code on Takeovers and Mergers (the “Code”), for
DraftKings either to announce a firm intention to make an offer for
Entain (in accordance with Rule 2.7 of the Code), or to announce
that it does not intend to make such an offer (in accordance with
Rule 2.8 of the Code), to 5:00 p.m. (London time) on 16 November
2021. This deadline may be further extended with the consent of the
Panel on Takeovers and Mergers, at Entain’s request.
DraftKings will continue to engage in
discussions between both companies and to conduct more substantive
due diligence and analysis regarding its possible offer.
DraftKings looks forward to exploring potential
benefits that could derive from this possible combination for its
and Entain’s shareholders, including:
- Expansion into regulated and regulating markets
- Accelerated product growth
- Innovation in new and existing verticals
DraftKings further notes that while it
progresses its discussions with Entain, it also continues to remain
very focused on opportunities in the high growth North America
market.
This announcement does not constitute an
announcement of a firm intention to make an offer under Rule 2.7 of
the Code. There can be no certainty that an offer will be made nor
as to the terms on which any offer will be made.
A further announcement will be made as and when
appropriate.
About DraftKingsDraftKings Inc.
is a digital sports entertainment and gaming company created to
fuel the competitive spirit of sports fans with products that range
across daily fantasy, regulated gaming and digital media.
Headquartered in Boston, and launched in 2012 by Jason Robins, Matt
Kalish and Paul Liberman, DraftKings is the only U.S.-based
vertically integrated sports betting operator. DraftKings is a
multi-channel provider of sports betting and gaming technologies,
powering sports and gaming entertainment for operators in 17
countries. DraftKings’ Sportsbook is live with mobile
and/or retail betting operations in the United States pursuant to
regulations in Arizona, Colorado, Connecticut, Illinois, Indiana,
Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York,
Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and
Wyoming. DraftKings’ daily fantasy sports product is
available in 7 countries internationally with 15 distinct sports
categories. DraftKings is the official daily fantasy partner of the
NFL, MLB, NHL, NASCAR, PGA TOUR and UFC as well as an authorized
gaming operator of the NBA, an official sports betting partner of
the NFL, MLB and NHL an official betting operator of PGA TOUR and
the official betting operator of UFC. Launched in August 2021,
DraftKings Marketplace is a digital collectibles ecosystem designed
for mainstream accessibility that offers curated NFT drops and
supports secondary-market transactions. DraftKings also owns Vegas
Sports Information Network, Inc. (VSiN), a multi-platform broadcast
and content company.
Inquiries
DraftKings Inc. |
|
Press:
Investor Relations: Joe DeCristofaro |
Media@draftkings.cominvestors@draftkings.com+1 617 986 6744 |
The Raine Group, financial adviser to DraftKings
Inc. |
+44 20 3695 8600 |
John SalterColin NevilleJason SchretterBrett VarsovGarrett
Gomes |
|
Credit Suisse, financial adviser to
DraftKings |
+44 20 7888 8888 |
Michael Kamras Joe HannonBen DearyMatt Hall (Corporate
Broking) |
|
Important Notices
This announcement is not intended to, and does
not, constitute or form part of any offer, invitation or the
solicitation of an offer to purchase, otherwise acquire, subscribe
for, sell or otherwise dispose of, any securities or the
solicitation of any vote in any jurisdiction whether pursuant to
this announcement or otherwise, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
The release, publication or distribution of this
announcement in whole or in part, directly or indirectly, in, into
or from certain jurisdictions outside the United Kingdom may be
restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about, and observe,
such restrictions. Any failure to comply with such restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
Financial Advisers
Raine Advisors Limited (“Raine”), which is an
Appointed Representative of Sapia Partners LLP, an entity which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority (FRN: 550103), is acting as financial adviser
exclusively for DraftKings and no one else in connection with the
matters set out in this announcement and will not be responsible to
any person other than DraftKings for providing the protections
afforded to clients of Raine, nor for providing advice in relation
to the content of this announcement or any matter referred to
herein. Neither Raine nor any of its affiliates owes or accepts any
duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Raine in connection with this
announcement, any statement contained herein or otherwise.
Credit Suisse International (“Credit Suisse”),
which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the UK, is acting as financial adviser
exclusively for DraftKings and no one else in connection with the
matters set out in this announcement and will not be responsible to
any person other than DraftKings for providing the protections
afforded to clients of Credit Suisse, nor for providing advice in
relation to the content of this announcement or any matter referred
to herein. Neither Credit Suisse nor any of its subsidiaries,
branches or affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of Credit Suisse in connection with this announcement,
any statement contained herein or otherwise.
Website
In accordance with Rule 26.1(a)(ii) of the Code,
a copy of this announcement will be available (subject to certain
restrictions relating to persons resident in certain restricted
jurisdictions) on DraftKings’ website (at
https://DraftKings.gcs-web.com) by no later than 12 noon (London
time) on 20 October 2021 (being the business day following the date
of this announcement). The content of such website is not
incorporated into, and does not form part of, this
announcement.
Important Information for US
Investors
In the event that DraftKings enters into any
transaction with respect to Entain (a “Transaction”), DraftKings
may be required to file certain relevant documents with the U.S.
Securities and Exchange Commission (the “SEC”). Such documents,
however, are not currently available. INVESTORS ARE URGED TO READ
ANY DOCUMENTS REGARDING A TRANSACTION IF AND WHEN THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors will be able to obtain a free copy of such filings
without charge, at the SEC’s website (http://www.sec.gov) once such
documents are filed with the SEC.
No securities to be issued in connection with a
Transaction have been registered under U.S. Securities Act of 1933,
as amended (the “U.S. Securities Act”), and no securities will be
offered or sold in the United States in connection with a
Transaction unless pursuant to registration under the U.S.
Securities Act or pursuant to an applicable exemption from the
registration requirements of the U.S. Securities Act. A Transaction
involving a scheme of arrangement may involve the issuance of
securities in reliance upon the exemption from the registration
requirements of the U.S. Securities Act provided by Section
3(a)(10) thereof, and would be subject to local disclosure
requirements (which disclosure requirements would be different from
those of the United States). A Transaction involving a tender offer
would be subject to applicable rules under the U.S. Securities
Exchange Act of 1934, as amended, including any applicable
exemptions provided under Rule 14d-1(d) thereunder.
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