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DraftKings Listing Approved by Blank-Check Firm Shareholders

April 23, 2020, 3:05 PM

DraftKings Inc., the fantasy sports and betting site, has won approval from shareholders of a so-called blank-check company allowing it to go public through a reverse merger.

Shareholders of Diamond Eagle Acquisition Corp., a publicly traded special purpose acquisition company set up by Hollywood executive turned serial dealmaker Jeff Sagansky, approved the acquisition of DraftKings and SBTech Global Ltd., a developer of online betting platforms, according to people with knowledge of the matter. The combined company is expected to begin trading as soon as Friday, said the people, asking not to be identified because the matter isn’t ...

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