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NEWS 17 February 2020

DraftKings CEO: We intend to keep SBTech senior management on board

By Tim Poole

DraftKings CEO Jason Robins intends to keep SBTech’s senior management figures at the company once the two firms have merged, although he admits it is as much up to them as DraftKings’ side of the organisation.

The operator announced it will acquire supplier SBTech in December, in a deal financed by Diamond Eagle Acquisition Corporation and worth an estimated $3.3bn in market capitalisation.

Robins will lead the merged organisation as CEO but wants Richard Carter, SBTech CEO since February 2016, and his team to remain at the firm.

He tells Gambling Insider: "Post-close, we’re in a process now of meeting everyone and figuring things out.

"Our intent is to keep the majority if not all the management team in place. Part of that is up to them, so we’ll have to talk to everybody and figure out what their plans are."

Carter was another "very important piece of glue" during M & A negotiations, according to Robins, helping bring all the relevant teams together.

The DraftKings CEO explains: "He did a lot of the analysis. He helped us with a lot of the diligence, helping us understand their technology and financials.

"He has a lot of experience breaking down businesses and looking at financial statements."

DraftKings’ merger with SBTech will be examined in-depth in the cover feature of Gambling Insider’s March/April magazine. The feature includes exclusive interviews with Robins, SBTech Non-Executive Chairman Gavin Isaacs and SBTech US President Melissa Riahei.

Read the current edition of Gambling Insider magazine here.

RELATED TAGS: Online | Mergers & Acquisitions | Industry
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