Rumour Mill: Kindred Group eyes DraftKings for instant US entry

Seeking to gain an instant foothold within the US sports betting market, Stockholm-listed European online gambling operator Kindred Group Plc is reported to be eyeing DraftKings as its next acquisition target.

This weekend, US betting news source LegalSportsReport.com (LSR) reported Kindred governance’s interest in acquiring ‘big 2’ daily fantasy sports operator DraftKings.

Kindred’s rumoured interest in DraftKings, follows last month’s development that FTSE100 betting group Paddy Power Betfair (PPB) had agreed to form a new US betting enterprise merging its Betfair US division with FanDuel.

LSR has not detailed any financial terms in regards to Kindred’s potential interest in acquiring DraftKings enterprise.

Nevertheless, should Kindred governance move on DraftKings, the Stockholm firm would likely have to undertake its biggest corporate acquisition to date, triggering a target value + €1 billion for the DFS operator, thus meeting the expectations of DraftKings’ venture investors.

Following SCOTUS repeal of PASPA’s federal mandate, DraftKings CEO and Co-Founder Jason Robins has stated that the DFS operator will now push to gain instant traction within state-licensed US betting jurisdictions.

Last week DraftKings announced its first betting partnership with New Jersey-based Resorts Atlantic City Casino.

Leading DraftKings operations, Jason Robins maintains that his preferred option is to list the company on a US exchange, fulfilling the firm’s enterprise valuation.

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