Draftkings, a popular online gambling operator is reportedly in advanced talks with gaming technology and services provider SBTech about an acquisition deal.
According to the reports and those familiar with the matter, the entire deal could cost Draftkings anything between $300 million and $600 million.
SBTech’s acquisition will also pave the way for Draftkings’ US expansion. SBTech has recently been chosen by Oregon Lottery as their sports betting technology services provider. Oregon Lottery plans to launch sports betting operation by the beginning of September.
While there is no official statement issued by the company regarding the acquisition, company officials have said that “DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to discuss the specifics of any of those discussions.”
Draftkings and SBTech merger would also be subject to regulatory obligations and would require approval from the authorities.
Recently, SBTech also announced a Melissa Riahei as its new US business head. Riahei brings more than 20 years of experience of working in the executive as deputy chief counsel to the office of the Governor in Illinois, as well as general counsel to the Illinois Lottery.