DraftKings & Flutter stocks drop 6% on regulation concerns
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DraftKings considering RSI purchase
DraftKings is among the many potential buyers that RSI, an online gaming company located in the US, has reached out to.
With its BetRivers brand controlling approximately two percent of the market, RSI is the sixth-largest operator in the US online sports betting industry. RSI has a strong foothold in the Latin American online gambling sector as well, which may appeal to potential purchasers.
DraftKings recently revealed that it will acquire the lottery company Jackpocket for 750m dollars; this acquisition would need a seamless integration. To assist with this integration, they named Jason Park, a former CFO, as their new chief transformation officer.
According to Jason Robins, CEO of DraftKings, the company will be cautious when it comes to mergers and acquisitions, emphasizing discipline and refraining from making hasty purchases.
A possible acquisition by DraftKings of RSI would represent yet another instance of market concentration in the US online gambling industry. In recent years, a number of businesses have shut down or been acquired, including FoxBet, Kindred’s Unibet, PointsBet, TwinSpires, and SI Sportsbook from 888.
Following the news of the possible sale, the share price of RSI increased by 11.7 percent to 6.9 dollars per share, before settling at about 6.4 dollars. This surge came after RSI released positive financial results for the fiscal year 2023, which sparked a fifteen percent spike earlier in the month.
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