Fantasy sports and iGaming royalty DraftKings has hit the jackpot by completing its US$750 million (£589.21m) acquisition of leading US lottery app, Jackpocket.
Recognized as the leading 360 lottery-of-lotteries app in America, the strategic buy allows Massachusetts-origin DraftKings’ to enter the expansive American lottery market; while also enhancing the platform’s sportsbook and iGaming offerings.
The integration of Jackpocket is expected to significantly boost DraftKings’ customer lifetime value and improve its customer acquisition capabilities in the frenzied fight with FanDuel to become the nation’s undisputed Number One sporytsbook.
“Today we are announcing the completion of our acquisition of Jackpocket, and the commencement of our value creation plan,” affirmed DraftKings Co-founder and CEO Jason Robins.
Cross-sell
“We are well-prepared to quickly launch cross-sell programs, further improve customer acquisition efficiency, and continue to innovate and differentiate with our overall product portfolio for our customers.
“We look forward to continuing to deliver enhanced value to our customers and shareholders as we integrate Jackpocket into the DraftKings ecosystem.”
Added Peter Sullivan, CEO of Jackpocket: “The completion of the acquisition represents an exciting new chapter for Jackpocket and DraftKings alike.
“Together, we are confident that we will be even more capable of helping lotteries fulfil their mission of delivering revenue back to the beneficiaries they support.
“DraftKings’ proven reach and cutting-edge mobile platforms will continue to allow us to drive growth and innovation in the digital lottery vertical.”
