Online betting outfit DraftKings is going public in a three-way deal that will value the company at $3.3 billion. Because it is one of the primary vehicles driving online and sports betting growth in New Jersey, Pennsylvania, and elsewhere, this could be a stock investors just might want to wager on.
The deal will see DraftKings merge with Diamond Eagle Acquisition (NASDAQ: DEAC), a special purpose acquisition company (SPAC), and SBTech, a B2B technology and trading services provider for gaming companies. After the transaction is complete, the betting platform will be the only vertically integrated U.S.-based sports wagering and online gambling company.
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