Daily Fantasy Sports Site DraftKings Acquires DraftStreet; Increases Customer Base By More Than 50 Percent While Adding Top Industry Talent
US-based powerhouses combine to offer the broadest range of daily fantasy sports across multiple platforms, including all major mobile devices
BOSTON--(BUSINESS WIRE)--DraftKings, Inc., a leading provider of online and mobile daily fantasy sports, today announced it has acquired New York-based fantasy sports site DraftStreet. The deal combines the two largest US-based daily fantasy sports providers, immediately expanding DraftKings’ customer base by more than 50 percent, while providing the industry’s broadest range of daily fantasy sports offerings. Financial terms of the deal were not disclosed.
“The DraftStreet acquisition enables us to offer the best daily fantasy sports games in market with a superior customer experience. Equally exciting is the opportunity to work with the incredible team that DraftStreet has assembled”
Nearly 37 million people in the United States and Canada—nearly 1 in 8 adults and 1 in 5 males—play fantasy sports. Daily fantasy sports are a burgeoning component of this multi-billion dollar market.
Launched in 2012, DraftKings has quickly established itself as the largest American daily fantasy sports company, driven by its world-class technology and user experience, a wide array of offerings and a powerful acquisition engine. The addition of DraftStreet’s broad range of strategy games, varied sport offerings and synergistic marketing relationships furthers DraftKings’ reach into the fantasy sports player base. DraftKings will migrate existing DraftStreet users into DraftKings properties beginning today.
“The DraftStreet acquisition enables us to offer the best daily fantasy sports games in market with a superior customer experience. Equally exciting is the opportunity to work with the incredible team that DraftStreet has assembled,” said Jason Robins, CEO, DraftKings. “Together, we will be able to offer an experience that is unparalleled in the industry.”
DraftKings offers games for experts and casual players alike—many contests are free, and others can pay out up to $1 million for an investment as small as a quarter. The company will be hosting the largest daily fantasy league in history, the $3.3 Million Guaranteed Fantasy Baseball Championship, this August at Atlantis in the Bahamas. In addition to major professional and college team sports, DraftKings also has the broadest range of fantasy golf games, including a $300,000 tournament for the British Open, starting Thursday.
“DraftKings and DraftStreet have long enjoyed a highly competitive, but friendly relationship. Today we are thrilled to join the DraftKings family and believe that combining our offerings creates a major win—for both companies, the daily fantasy sports industry, and most importantly, our players,” said DraftStreet CEO Brian Schwartz, who will join the DraftKings executive team.
Launched in April 2012, Boston-based DraftKings is the online gaming destination where players engage in daily fantasy sports competitions across fantasy football, baseball, golf, basketball, hockey, and college football/basketball. DraftKings offers free and pay contests every day that pay cash prizes. All games feature a salary cap format, and new contests are offered every day with instantaneous payouts. For more information, visit us at www.draftkings.com; like us at www.facebook.com/draftkings and follow us at www.twitter.com/draftkings.