Diamonds Eagle in talks to buy fantasy sports provider DraftKings


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Diamonds Eagle in talks to buy fantasy sports provider DraftKings

LA-based special purpose acquisition company, Diamond Eagle Acquisition Corp., had been in an advanced-stage talk to purchase DraftKings Inc., a Boston, Massachusetts-based daily fantasy sports contest and sports betting provider, a Bloomberg report published late on Wednesday, the 30th of October 2019, had revealed citing multiple sources familiar with the subject-matter.

Aside from that, Wednesday’s (October 30th) Bloomberg report had added that Diamond Eagle had been in an exclusive negotiation with the DraftKings, while it also reported that its sources could not reveal the financial terms of the deal and a specific transaction figure had yet to be finalized.

On the flipside, if DraftKings Inc. could not reach a deal with LA-based Diamond Eagle, the sports betting provider would more likely to contemplate another fundraising campaign, Wednesday’s (October 30th) Bloomberg report revealed citing sources familiar with the subject-matter.

Nonetheless, while being asked about the issue, adding that DraftKings Inc. would not be commenting on critical policy decision, the company said in an emailed statement late on Wednesday (October 30th), “DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to comment on the specifics of any of those discussions,” while a spokesman for Diamond Eagle declined to comment over the subject-matter.