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DraftKings Rises 10% in Public Debut During Freeze on Sports

  • Sports-betting site goes public via blank-check company deal
  • Choice of reverse merger with SPAC proved to be ‘pretty big’
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DraftKings CEO Defies the Odds to Go Public
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A stalled initial public offering, a failed merger, and one pandemic later, DraftKings Inc. is public.

The Boston-based sports-betting company jumped rose in its first trading day after completing a reverse merger with Diamond Eagle Acquisition Corp., a special purpose acquisition company. The $3.3 billion deal combining DraftKings and the gaming technology firm SBTech was approved Thursday.