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The other major daily fantasy sports site in the US appears to be a target for acquisition as well.
Multiple sources have told Legal Sports Report that European-based online gaming company Kindred Group is looking at a possible acquisition of DraftKings. This development comes after competitor FanDuel was acquired in a deal with Paddy Power Betfair just last week.
LSR is not aware of much in the way of details — such as timeline or possible terms — or how advanced talks are.
The two DFS companies became more attractive as acquisition targets after last month’s decision from the US Supreme Court to strike down the federal ban on single-game wagering.
Kindred is not a familiar brand for people in the US, but it is a major gaming entity across the Atlantic Ocean in online gambling and sports betting.
The company has nearly a dozen brands under its umbrella, the most well-known being Unibet and 32Red. The company was actually known as Unibet until 2016, when the company changed its name.
Kindred had revenues in excess of £750 million in 2017, and has offices across Europe.
Also interesting in the talks is that Kambi Group is a business-to-business spin-off of Unibet for sports betting. It’s believed DraftKings has been working with Kambi on its sports betting product in the US.
The possibility of a DraftKings acquisition also comes after news that Kindred is setting its sights on the US market with a newly created division and a senior vice president in charge of American operations.
It all comes as DraftKings has been making a strong push to get into the regulated sports betting market that is coming to the US.
Its only known entry point at this point is New Jersey, where it just announced a partnership with land-based casino Resorts Atlantic City. DraftKings’ readiness to launch a sports betting product when NJ sports betting is unknown.
While it has advertised its DK Sportsbook product in NJ, details about the actual product are non-existent in the public view.
DraftKings has long coveted an initial public offering, but its path to that outcome is also unclear currently. DraftKings is currently advertising dozens of jobs at its website.