DraftKings CEO denies talk of IPO

Jason Robins, chief executive officer of DraftKings, has denied reports that the US fantasy sports operator is planning to launch an Initial Public Offering (IPO).

In an interview with LegalSportsReport.com, Robins said that although the firm has various options available, an IPO is unlikely at this time.

Robins’ declaration comes after he previously commented about the possibility of DraftKings launching an IPO either this year or in 2016.

“Right now we are looking at a lot of different options, but that (an IPO) is probably the last thing on our mind,” Robins said.

“We’re just trying to build a great business and engage sports fans.”

Robins also spoke about the news that DraftKings is set to secure $250 million (€222.8 million) in investment from entertainment giant Walt Disney Co.

Early reports suggest that DraftKings has committed to large advertising spend across ESPN, a global sports broadcasting operation jointly owned by Disney and the Hearst Corporation.

Robins was unwilling to discuss the deal in depth, but he described ESPN as the “leader” in fantasy sports and has firmly established itself in the market.

“I can’t comment specifically on the deal, but right now I think ESPN is the leader really in fantasy, they have become the company more than any that is identified with fantasy and identified with sports,” Robins said.

source : www.igamingbusiness.com

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