GMVHF - DraftKings soars after passing on Entain acquisition

DraftKings (NASDAQ:DKNG) pops after the company confirms that it will not make a firm offer for Entain Plc. (OTCPK:GMVHF) DKNG statement: "After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time.  Based on our vertically-integrated technology stack, best-in-class product and technology capabilities and leading brand, we are highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market." The rationale of the Entain acquisition was being questioned by some sell-side analysts. Shares of DraftKings (DKNG) are up 9.89% premarket to $51.13. Entain (OTCPK:GMVHF) is down more than 11% in London trading. See the advanced chart on Entain.

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DraftKings soars after passing on Entain acquisition