DraftKings and SBTech merge
It wouldn’t be an understatement to say that the business word is in flux at the moment. Amid a global pandemic,businesses world wide are struggling to keep open for business and the expert don’t seem to know neither how long it will last not what the long terms affects will be once this is over.
But it’s not all doom and gloom â some companies seem to have started to ramp up activities and show no signs of slowing down. While the hospitality industry has been crippled,some industries are doing better than ever: gambling operators,personal finance providers and SaaS companies are among those who seem to do well.
One business transaction that made the news this week was the merger between two giants in one of those business segments: DraftKings and SBTech. DraftKings is perhaps the biggest name in fantasy sports in the U.S. and together with SBTech they are,since this week,one of the more significant players in the market today.
DraftKings is now a publicly traded company. This is a critical point in not only the company’s own history but for the world of sports betting in general. As the regulators vote in confidence of legal sports betting â close a third of all the country has some sort of legalized sports betting already â we are likely going to see several more,big mergers like the one we did this week.
As most of us are staying home,waiting for the global pandemic of our generation to blow over,some DraftKings are expanding and growing. Perhaps this is what the world needs right now? Time will tell.