Michael Jordan Inks A Deal With DraftKings Sportsbook As Esports Games Draw Negative Attention Through Loot Boxes
Manage episode 280139769 series 2840497
Former NBA superstar and long-time entrepreneur Michael Jordan has recently purchased an undisclosed equity stake in the US sportsbook DraftKings. He will also serve on the company’s board as a special advisor. He is the current owner and chairman of the Charlotte Hornets franchise in the NBA. The news of this arrangement drove up the share price of DraftKings more than seven percent. As of Sept. 2, it was trading at $39.60 a share. DraftKings went public in April following a three-way merger. SBTech and Diamond Eagle Acquisition Corp. were the other two partners. The principle business is legal US sports betting.
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