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George Soros Wagers on Sports Betting With DraftKings Stake

  • Family office’s Quantum Partners holds $66 million of shares
  • Company has surged since going public through reverse merger
DraftKings Inc. And FanDuel Inc. Applications As Ad Spending Increases

Photographer: Andrew Harrer/Bloomberg

George Soros has a $66 million stake in DraftKings Inc., one of several big-name investors to receive shares in the sports-betting company through a deal that took it public last month.

Quantum Partners, an investment vehicle run by Soros Fund Management, holds 2.7 million DraftKings Class A shares, according to a filing last week with the U.S. Securities and Exchange Commission. A spokesman declined to comment on behalf of Soros Fund Management, which oversees investments on behalf of the 89-year-old philanthropist and his family.