DraftKings Acquisition of Entain collapses

Home » Esports » DraftKings Acquisition of Entain collapses

A historic deal between DraftKings and Entain was just revealed to have fallen through. The agreement fell through after many weeks of discussions, which resulted with DraftKings paying a princely price of $22.4 billion for UK-based betting business Entain. At the last minute, DraftKings backed out of the deal, claiming a reluctance to accept Entain’s conditions.

Entain, on the other hand, indicated his dissatisfaction with DraftKings’ offer. DraftKings submitted a cash and stock offer as part of the grand buyout, with the latter accounting for the bulk. This component is said to have generated concern among Entain’s board of directors, causing the idea to falter. Following the announcement of the bankruptcy, DraftKings saw an immediate increase in stock value, while Entain saw a minor decrease.

When the news of DraftKings’ offer to buy Entain for $22.4 billion surfaced, there was a lot of excitement. It would have been a marriage of business titans, with unprecedented globalisation of betting. Entain has developed quickly in recent years, and at the start of 2021, the company turned down a big $11 billion bid from MGM.

Entain acquired Unikrn, a speciality esports betting platform that has seen a rapid growth in popularity in a very short period of time, in August of 2021. Unikrn was taken offline after the transaction, with the promise that it will resurface in earnest in 2022.

Previously, esports betting was not particularly valuable; now, these platforms are valued in the millions, if not billions, of dollars. DraftKings recognises the industry’s future potential and pledges more expansion, implying that this isn’t the company’s final bid for Entain. Jason Robins, the CEO of DraftKings, said in a statement:

We are confident in our ability to retain a leadership position and fulfil our long-term growth ambitions in the fast increasing North American market thanks to our vertically integrated technological stack, best-in-class product and technology capabilities, and leading brand.

This organisation should be familiarised by everyone interested in betting on the North American market. To find out, we’ve put together a detailed DraftKings review.

Following the failure of this proposition, Entain is still in a strong position. The UK-based betting firm has a sizable portfolio, and the betting and esports betting industry as a whole are only becoming bigger. The Entain Group stated in a press release that there were great expectations for Entain’s future:

Entain’s management is continuing to focus on executing its growth and sustainability plan, as well as delivering the potential outlined in Entain’s capital markets event on August 12th to triple its total addressable market to c.$160 billion.

One of the significant prospects noted was the possibility of ‘expanding into new interactive entertainment experiences, such as the growing esports wagering sector.’ Esports betting is becoming a hugely popular and valuable sector as time goes on, and businesses like Entain and DraftKings are at the forefront of that growth.

Since its establishment in 2012, DraftKings has swiftly risen to prominence as the foremost daily fantasy sports provider in the United States. Operating from its headquarters in Boston, DraftKings boasts a broader spectrum of contests across a diverse range of sports compared to any other bookmakers. For those searching for a reliable and trustworthy sportsbook in the United States, DraftKings can be a great option.
T&Cs Apply
21+ (18+ KY/NH/WY). Physically present in AZ/CO/CT/IL/IN/IA/KS/KY/LA(select parishes)/MA/MD/MI/NJ/NY/OH/PA/TN/VA/WV/WY only. Void in NH/ONT/OR. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). Licensee partner Golden Nugget Lake Charles (LA). Ends 10/02/23 at 11:59 PM ET. Bet $5 Get $200: Valid 1 per new customer. Min. $5 deposit. Min. $5 bet. $200 issued in bonus bets. No Sweat: Opt in req. 1 No Sweat token issued per eligible gameday, up to 3 per week. NFL bets only. Max bet $50 for new customers. Must use funds from cash balance. Bet must lose after applying Token. Paid as one Bonus Bet based on amount of losing bet. Tokens expire at start of the last game each gameday. No Sweat cannot be used to redeem Bet $5 Get $200 offer. Rewarded bonus bets expire 7 days (168 hours) after being awarded. Bonus bets must be wagered 1x and stake is not included in winnings
FanDuel, now a prominent name in sports betting, unveiled its comprehensive online sportsbook in 2018, coinciding with significant changes in U.S. online gambling regulations. As someone who values a strong market presence, I'm impressed by FanDuel's position as a leading force in the U.S. It's clear that FanDuel prioritises security and understands its audience well. The FanDuel Sportsbook offers a comprehensive package from promotions to banking and reliability.
T&Cs Apply
21+ and present in AZ, CO, CT, IA, IL, IN, KS, LA (permitted parishes only), MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, or WY. FanDuel is offering online sports wagering in Kansas under an agreement with Kansas Star Casino, LLC. First online real money wager only. $10 first deposit required. Bonus issued as nonwithdrawable bonus bets that expire 7 days after receipt. Restrictions apply. See terms at sportsbook.fanduel.com. Gambling Problem? Call 1-800-GAMBLER or visit FanDuel.com/RG (CO, IA, MI, NJ, OH, PA, IL, TN, VA), 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-888-789-7777 or visit ccpg.org/chat (CT), 1-800-9-WITH-IT (IN), 1-800-522-4700 or visit ksgamblinghelp.com (KS), 1-877-770-STOP (LA), visit www.mdgamblinghelp.org (MD), 1-800-522-4700 (WY), or visit www.1800gambler.net (WV).
I am pleased to introduce BetMGM as a premier online sportsbook within the United States. The genesis of BetMGM occurred through a strategic partnership forged between MGM Resorts International and Entain Holdings in July 2018. The sportsbook adeptly organises a plethora of information on its homepage, presented in a user-friendly and easily comprehensible manner. To the left, a broad spectrum of sports is readily accessible.
T&Cs Apply
Simply sign up, make a deposit, and place your first wager. If the bet loses, you’ll receive the amount of your wager back in Bonus Bets to bet on more games. The First Bet Offer can be used on college football spreads, MLB NRFI odds, and more. Register now at BetMGM! The offer isn’t available in the following locations: Mississippi, New York, Nevada, Ontario, Puerto Rico, and Washington, D.C.
With a decade of unravelling sportsbook mysteries under my belt, I'm thrilled to unveil a bookmaker gem known as Bet365. In this Bet365 review, I'll spill the beans on my overall experience while exploring its offerings tailored for US players.
T&Cs Apply
Wager just $1 and get $365 in bonus bets, available in CO, IA, NJ, OH, and VA

Gambling problem? Call 1-800-GAMBLER CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800 BETS-OFF (IA), 1-800-270-7117 for confidential help (MI) Copyright © 2023 ThePicks.