- DraftKings is now on the Nasdaq Stock Exchange under the abbreviation DKNGW.
- The company became the first of its kind to reach the market floor on Friday.
BOSTON – DraftKings has made it to the floor of the Wall Street Stock Exchange after officially merging with SBTech and Diamond Eagle Acquisition Corp. on Thursday.
The legal sports betting and gaming company will be known as “DKNG” in the market and Nasdaq will trade their warrants under the symbol “DKNGW”.
People are already saying that the symbol is easy to remember as it reminds them of the Nintendo character “Donkey Kong” as can be seen during an interview about the merger on CNBC.
DraftKings is the first company of its kind in the United States to be in the position they’re in. It’s a historical moment for a sports betting and gaming business to be integrated into the Nasdaq Stock Exchange.
“Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America,” said Jason Robins co-founder and CEO of DraftKings. “By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best, most innovative sports and gaming products to our customers.”
DraftKings will continue to have their main headquarters based in Boston. Their business is also expected to continue as usual, only now, people can purchase stock in the company.
While it’s a strange time in the sports world because of the lack of sporting events due to the Coronavirus, DraftKings knew that the market would be different even if there was no pandemic and prepared for it accordingly. This allowed them to move on with their plans to make the move to become public.
In celebration of this new accomplishment for the company, Robins and others from DraftKings got to ring the opening bell on Friday.
The business will meet up at the end of the day to see what the closing number is on their new stock. Sports betting and gaming has just reached new heights and for DraftKings, they only hope to continue to move further.
With Wall Street embracing the market, maybe legal sports betting will find more homes nationwide.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.