DraftKings Completes Merger That Makes It A Public Company, Starts Trading Friday

DraftKings, the Boston-based daily fantasy sports company that courted so much controversy a few years ago over whether its contests were a form of gambling, announced Thursday it completed the $3.3 billion merger that will bring the company public. DraftKings has combined with Diamond Eagle, an SPAC (special-purpose acquisition company) that went public last May, which will resume trading on the Nasdaq on Friday under the DraftKings name and the new ticker DKNG.

“It’s a big milestone for us, and I think in many ways some of the things we went through, the different ups and downs and curveballs, make it that much more special,” says DraftKings cofounder and CEO Jason Robins, who will be CEO and chairman of the combined company.