DraftKings shares jump as George Soros unveiled as shareholder
Billionaire businessman now holds a $66m stake in the US sports betting operator
Shares in DraftKings jumped 7.5% on Tuesday after it was revealed billionaire investor George Soros holds a $66m stake in the US sports betting operator.
DraftKings shareholders were unveiled in a filing with the US Securities and Exchange Commission after being floated on the stock exchange on 23 April following its combination with SBTech and Diamond Eagle Acquisition Corp (DEAC).
Quantum Partners, an investment vehicle run by Soros Fund Management, owns 2.7 million class A shares in DraftKings, with the fund overseeing around $25bn in total investments.
Since its reverse merger with DEAC, shares in Boston-based DraftKings have risen 40% overall despite the sports blackout as a result of the coronavirus pandemic.
Other major shareholders include Mousse Partners – the family office that invests the Chanel fortune for the Wertheimers with a holding of $88m – while former Jeffrey Vinik hedge fund money manager Michael Gordon holds a stake worth nearly $20m.
It was also revealed that several owners of NBA teams have invested in DraftKings.
Madison Square Entertainment Corporation, which is controlled by the Dolan family that owns the New York Knicks, holds almost 1.5 million shares, while co-owner of the Boston Celtics Stephen Paglicua owns around 566,000 shares via a partnership with the Bollard Group.
Original start-up investors from 2012, Robert Kraft and Jerry Jones, both continue to hold stakes too.
Kraft, who owns NFL franchise New England Patriots, along with his sons Jonathan and Daniel, owns 3.53 million DraftKings shares.
Jones, who owns NFL’s Dallas Cowboys and Major League Baseball (MLB) club New York Yankees, holds 194,867 shares via his Legends Hospitality investment vehicle.