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OFFON

DRAFTKINGS INC.

(DKNG)
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DraftKings : Deadline for DraftKings and Entain takeover extended at last minute

10/21/2021 | 01:21am EST

GAMBLING giant DraftKings has secured another month to agree a deal with rival Entain after the pair failed to nail down a £16.4bn takeover.

Ladbrokes owner Entain was given the green light from the Takeover Panel on a request to extend a deadline on agreeing a restructuring model. The deadline has been extended to 16 November to facilitate more discussions with the US-based DraftKings, The Times reported.

Entain has insisted that DraftKings must resolve "a number of matters... that are fundamental to the structure" before discussing price.

DraftKings initially proposed £28-a-share with 630p in cash and the rest in shares

Entain said it was "reserving its position on the appropriateness of the value of the proposal".

Entain shares dropped slightly yesterday following reports of the botched deadline.

The company reported revenue of £1.8bn in the first half of 2021, up by 11 per cent compared to 2020. In the UK, online business saw 31 per cent growth for the six month period ending 30 June.

(c) 2021 City A.M., source Newspaper

Stocks mentioned in the article
ChangeLast1st jan.
DRAFTKINGS INC. -3.52% 21.4 Delayed Quote.-22.10%
ENTAIN PLC 0.01% 1709 Delayed Quote.1.57%
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Analyst Recommendations on DRAFTKINGS INC.
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Financials (USD)
Sales 2021 1 266 M - -
Net income 2021 -1 519 M - -
Net cash 2021 1 272 M - -
P/E ratio 2021 -5,85x
Yield 2021 -
Capitalization 8 698 M 8 698 M -
EV / Sales 2021 5,86x
EV / Sales 2022 4,19x
Nbr of Employees 2 600
Free-Float -
Chart DRAFTKINGS INC.
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DraftKings Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends DRAFTKINGS INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 21,40 $
Average target price 56,13 $
Spread / Average Target 162%
EPS Revisions
Managers and Directors
Jason Robins Chief Executive Officer
Jason K. Park Chief Financial Officer
Paul Liberman Director, President-Global Technology & Product
Travis Dunn Chief Technology Officer
Jennifer Aguiar Head-Compliance & Risk
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