DraftKings Completes $750 Million Acquisition of Jackpocket

DraftKings, the prominent betting giant, has finalized its acquisition of the North American lottery app Jackpocket for $750 million. The acquisition, which was announced in February 2024, is expected to generate up to $340 million in additional revenue annually.

With the completion of the acquisition, DraftKings is now focused on integrating Jackpocket into its operations. The company aims to leverage synergies between the two entities to drive sustainable growth. DraftKings plans to capitalize on the expansive US lottery vertical and expand its current offerings, which it believes will enhance customer lifetime value and bolster customer acquisition capabilities.

Ed Birkin, a senior analyst at H2 Gambling Capital, analyzed the acquisition positively, highlighting its potential to diversify DraftKings' revenue streams and provide substantial opportunities for market expansion. According to Birkin, this acquisition opens another channel to attract customers, further strengthening DraftKings' position in the industry.