Rumors circulated Monday that Draftkings Inc (NASDAQ:DKNG) had set its sights to acquire Score Media and Gaming Inc (NASDAQ:SCR).
Why It Matters: The online betting and iGaming Industry is becoming hotly competitive as U.S. states and Canada continue to work through the legalization process.
See also: How to Buy DraftKings, Inc. (DKNG) Stock
What's Next: Although DraftKings already has a foothold in the U.S., already operating in the four states Score Media has a presence, a takeover could give the company an edge to enter Canada once the country legalizes single sports betting later this year.
With analysts expecting “DraftKings to have access to 65% of the U.S. population by fiscal 2025,” a first-mover advantage into Canada could solidify DraftKings as the North American leader.
(Photo by Erik Mclean on Unsplash)
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