TIDM0A40 TIDMENT
RNS Number : 5736P
DraftKings Inc.
19 October 2021
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.
FOR IMMEDIATE RELEASE
19 October 2021
DraftKings Inc. ("DraftKings")
Statement regarding Entain plc ("Entain")
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 DraftKings
DraftKings 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.
Enquiries
DraftKings Inc.
Press: Media@draftkings.com
Investor Relations: +1 617 986 6744
Joe DeCristofaro
The Raine Group, financial adviser to DraftKings
Inc. +44 20 3695 8600
John Salter
Colin Neville
Jason Schretter
Brett Varsov
Garrett Gomes
Credit Suisse, financial adviser to DraftKings +44 20 7888 8888
Michael Kamras
Joe Hannon
Ben Deary
Matt 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.
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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END
OFDDKCBPQBDDQKD
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October 19, 2021 10:56 ET (14:56 GMT)
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