DraftKings finalizes acquisition of Jackpocket

Unlocks access to the US digital lottery industry and significant cross-selling opportunities

BOSTON AND NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) — DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced the completion of its previously announced proposed acquisition of Jackpocket Inc. (“Jackpocket”), the leading digital lottery application in the United States.

“Today we are announcing the completion of our acquisition of Jackpocket and the launch of our value creation plan,” said Jason Robins, CEO and co-founder of DraftKings. “We are well-positioned to rapidly launch cross-selling programs, continue to improve customer acquisition efficiency, and continue to innovate and differentiate our overall product portfolio for our customers. We look forward to continuing to deliver greater value to our customers and shareholders by integrating Jackpocket into the DraftKings ecosystem.”

Jackpocket is renowned for its innovative digital lottery services, solid technology infrastructure and strong brand presence. This acquisition enables DraftKings to capitalize on the expansive U.S. lottery market while expanding its position in the sports betting and iGaming industry by increasing customer lifetime value and strengthening customer acquisition capabilities.

“The completion of the acquisition marks an exciting new chapter for both Jackpocket and DraftKings,” said Peter Sullivan, CEO of Jackpocket. “Together, we are confident that we will be even more able to help lotteries fulfill their mission of providing income to the beneficiaries they support. DraftKings’ proven reach and state-of-the-art mobile platforms will continue to enable us to grow and innovate in the digital lottery vertical.”

Following completion of the acquisition, DraftKings is focused on integrating Jackpocket into its business and leveraging synergies to deliver sustainable growth and value creation. The company remains committed to providing its customers with an exceptional experience while advancing its mission to responsibly deliver safe, innovative and engaging real money gaming offerings.

About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company designed to be the ultimate host and fuel the competitive spirit of sports fans with products spanning daily fantasy, regulated gaming and digital media. Boston-based DraftKings, founded in 2012 by Jason Robins, Matt Kalish and Paul Liberman, is the only U.S.-based vertically integrated sports betting operator. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real money games and bets. DraftKings Sportsbook offers mobile and/or retail sports betting under the laws of 27 states and Ontario, Canada. The Company operates iGaming operations under the laws of five states and Ontario, Canada under the DraftKings brand and under the laws of three states under the Golden Nugget Online Gaming brand. DraftKings owns Jackpocket, the leading digital lottery app in the United States. DraftKings’ daily fantasy sports product is available in 44 states, some Canadian provinces and the United Kingdom. DraftKings is both the Official Daily Fantasy and Sportsbook Partner of the NFL, NHL, PGA TOUR and UFC, as well as the Official Daily Fantasy Partner of NASCAR, Official Sportsbook Partner of the NBA and Authorized Gaming Operator of MLB. Additionally, DraftKings owns and operates both DraftKings Network and Vegas Sports Information Network (VSiN) to provide a cross-platform content ecosystem of original programming. DraftKings strives to be a responsible steward of the new era of real money gaming with a company-wide focus on responsible gaming and corporate social responsibility.

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Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company, Jackpocket and their respective industries that involve significant risks and uncertainties. All statements other than statements of historical fact contained in this press release, including statements regarding DraftKings’ future operating results or financial condition, strategic plans and objectives, user growth and engagement, product initiatives and management’s goals and expectations for future operations (including launches in new jurisdictions and their expected timing) are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate”, “believe”, “confident”, “consider”, “continue”, “could”, “estimate”, “expect”, “forecast “, “intends”, “intends”, “may”, “plans”, “ready”, “potential”, “anticipates”, “project”, “proposes”, “should”, “goal”, “will” or “would” or the negative of these words or other similar terms or expressions. DraftKings cautions that the foregoing may not cover all forward-looking statements contained in this press release.

You should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections regarding future events and trends, including the current macroeconomic environment, that it believes may affect its business, financial condition, results of operations and prospects. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond DraftKings’ control and which could affect actual results or results materially from those discussed in the forward-looking statements. Important factors that could affect, among other things, actual results or performance include, but are not limited to, the risk that the acquisition of Jackpocket by DraftKings disrupts current plans or operations; the ability to recognize the anticipated benefits of DraftKings’ acquisition of Jackpocket; DraftKings’ ability to implement business plans and projections; potential litigation involving DraftKings; changes in applicable laws or regulations, in particular in relation to online gaming, digital lottery couriers and similar businesses; general economic and market conditions affecting demand for DraftKings products and services; economic and market conditions in the media, entertainment, gaming, lottery and software industries in the jurisdictions in which DraftKings operates; market and global conditions and economic factors, as well as the potential impact of general economic conditions, including inflation, rising interest rates and instability in the banking system, on DraftKings’ liquidity, business and personnel, as well as the risks, uncertainties and other factors described in the “Factors” section Risk” in DraftKings’ filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other documents filed by DraftKings with the SEC from time to time. The forward-looking statements contained herein are based on the current expectations and beliefs of DraftKings management and speak only as of the date they are made, and DraftKings undertakes no obligation to update or publicly release any changes to forward-looking statements to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law.

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