• Loading stock data...
Saturday, August 2, 2025
Tuned In returns to NYC on September 16. Hear from the biggest names in sports media. Click here to get your spot

DraftKings Makes $20B Offer to Acquire Entain

  • DraftKings made a $20 billion cash-and-stock offer on Tuesday.
  • The company is looking to acquire U.K. online sports betting company Entain.
DraftKings/Design: Alex Brooks

DraftKings made a $20 billion cash-and-stock offer on Tuesday to acquire U.K. online sports betting company Entain, according to CNBC. 

On Monday, Entain had an enterprise value of roughly $18 billion. The company owns major betting brands like Ladbrokes, PartyPoker, Coral, and BetMGM.

Entain rejected an $11 billion all-stock offer from its BetMGM partner, MGM Resorts, in January, saying it undervalued the company.

Since going public via a reverse merger with blank-check company Diamond Eagle Acquisition Corp. in 2020, DraftKings has been busy expanding its offerings and reach.

  • The company purchased sports betting media network VSiN for $70 million in March.
  • The same month, it agreed to a five-year partnership with UFC in a deal worth more than $100 million.
  • The company inked a $50 million deal in April with Meadowlark Media for Dan Le Batard’s radio show and podcast network.
  • It announced a deal in August with Genius Sports to access Genius’ data and sports betting products.
  • Also in August, it agreed to acquire Golden Nugget Online Gaming in an all-stock deal valued at roughly $1.56 billion.

DraftKings generated $298 million in revenue in Q2 2021 — a 297% increase year-over-year — but still took a net loss of $305.5 million during the quarter due to the hefty cost of operations, acquisitions, and marketing.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Coco Gauff at New York Liberty

How the New York Liberty Became the Hottest Ticket in Town

Once banished to the burbs, the Libs are now Brooklyn’s marquee attraction.
Las Vegas sign

College Sports Embracing Vegas After Years of Cold Shoulder

The Big Ten became the latest newcomer to Sin City.
2000, Jupiter, FL, USA; FILE PHOTO; Montreal Expos pitcher Hideki Irabu in action on the mound against the New York Mets at Roger Dean Stadium during Spring Training

Dead Sports Franchises Are Alive and Well on Twitter

The Expos, Sonics, and Whalers have active social media accounts.
Limited Hype

Sneaker Reselling Was Once Easy Money. Success Is Now Complicated

Vendors need to evolve what they’re selling and how they do it.

Featured Today

Ryan Field Construction
exclusive
July 19, 2025

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
Emmanuel Clase

Emmanuel Clase Gambling Leave Not Costing Finlete Investors—Yet

Clase is the company’s only client currently in the majors.
Polymarket
July 21, 2025

Polymarket Set to Become Legal in U.S. After Buying Small Exchange

Derivatives exchange QCX was recently licensed by the CFTC.
Jun 21, 2025; West Sacramento, California, USA; Cleveland Guardians pitcher Emmanuel Clase (48) throws a pitch against the Athletics during the ninth inning at Sutter Health Park.
July 28, 2025

Guardians Star Closer Put on Paid Leave Amid Gambling Probe

Emmanuel Clase joins fellow Guardians pitcher Luis Ortiz on paid leave.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) reacts after giving up a home run during the fourth inning against the Cincinnati Reds at Progressive Field.
July 18, 2025

MLB Pitcher’s Paid Leave Extended Through August As Betting Probe Continues

Leagues have been dealing with a host of sports betting issues.
Mar 31, 2025; Washington, District of Columbia, USA; Miami Heat guard Terry Rozier (2) drives to the basket against Washington Wizards guard AJ Johnson (5) during the first quarter at Capital One Arena.
July 16, 2025

Terry Rozier’s Attorney Confirms He’s Still Under Federal Gambling Probe

Rozier finished the season playing for the Heat despite the federal probe.
The Department of Justice logo on a podium at the Louisville, Kentucky office. July 1, 2025
July 16, 2025

Prediction Market Platform Polymarket Says It Escaped Federal Probe

Prediction markets are having a moment.
DraftKings
exclusive
July 14, 2025

DraftKings in Talks to Acquire Prediction Market Railbird Exchange

Sportsbooks and prediction markets are becoming increasingly intertwined.