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Technology Stocks : DraftKings, Inc. / Online Gambling

DKNG 27.92

-2.5%

3:59 PM EST

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From: Glenn Petersen	9/7/2020 8:17:41 AM
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DKNG does a soft launch in Ireland on the its SBTech platform: WHAT THE FIRST DRAFTKINGS SPORTSBOOK WITH SBTECH LOOKS LIKE POSTED ON SEPTEMBER 4, 2020 BY BRAD ALLEN Legal Sports Report DraftKings Sportsbook has launched its first product outside the US after going live in the Republic of Ireland. The site was soft-launched this week, with marketing expected to kick in next week. The company will also add an online casino segment. The debut of an Irish product also marks the first DraftKings Sportsbook built on SBTech technology rather than Kambi. In a statement provided to LSR, DraftKings said it had gone live after securing a remote bookmaker’s license from the Irish Tax and Customs office. Those licenses cost €10,000 and last for two years. An Irish flavor for DraftKings Sportsbook“Headquartered in Boston with an engineering office in Dublin since 2019, DraftKings is proud to have both American and Irish DNA,” the company said in a statement on the new site The Dublin office has space for around 50 employees, focused on software engineering. DraftKings has offered DFS to Irish customers since 2017. The new site has a DFS tab which redirects to the main DraftKings site. What are DraftKings’ Irish plans? The launch is understood to be more of a testing site for the eventual DraftKings product with SBTech in the US rather than the start of an expansion into Europe or the UK. The full US platform migration is on track to be finished “no later than” September 2021, according to CEO Jason Robins. It’s likely DraftKings would start by launching the product in ‘new’ states like Tennessee before migrating existing states. The Irish launch adds to a busy week for DraftKings, after the operator announced plans to build a sportsbook in Wrigley Field in Chicago. DraftKings shares also surged earlier this week after naming Michael Jordan as a special advisor to its board. The stock price reached nearly $40 at one point before settling back to $38.27 at the end of Thursday trading. legalsportsreport.com

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