Business Combinations (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Summary of Consideration Transferred at Closing

The following is a summary of the consideration issued or paid on the Jackpocket Closing Date:


Cash consideration	$	452,322
Equity consideration (1)	320,783
Total consideration	$	773,105

(1)Includes the issuance of approximately 7.5 million shares of DraftKings Inc.’s Class A common stock issued at $41.90 per share and $6.2 million of options exercisable for shares of DraftKings Inc.’s Class A common stock, which were issued to certain Jackpocket employee option holders in exchange for their Jackpocket options.

The following is a summary of the consideration issued or paid on the Simplebet Closing Date:


Cash consideration	$	35,965
Equity consideration (1)	45,145
Contingent consideration (2)	53,535
Total consideration	$	134,645

(1)Includes the issuance of approximately 1.0 million shares of DraftKings Inc.’s Class A common stock issued at $43.97 per share.

(2)Contingent consideration of up to 3.5 million shares of DraftKings Inc.’s Class A common stock may be payable through December 31, 2026, subject to the achievement of certain future performance targets for the Company as a whole. The Company recorded a fair value estimate of the contingent consideration, as disclosed in “Note 6 – Fair Value Measurement”.

Summary of Acquisition Purchase Price

The following table summarizes the fair value of the assets acquired and liabilities assumed in connection with the consummation of the Jackpocket Transaction on the Jackpocket Closing Date:


Cash and cash equivalents	$	45,999
Cash reserved for users	23,349
Receivables reserved for users	9,092
Prepaid expenses and other current assets	4,151
Property and equipment	1,523
Intangible assets	269,736
Operating lease right-of-use assets	2,579
Deposits and other non-current assets	136
Total identifiable assets acquired	356,565
Liabilities assumed:
Accounts payable and accrued expenses	33,961
Liabilities to users	16,877
Operating lease liabilities	2,580
Other long-term liabilities	80,463
Total liabilities assumed	133,881
Net assets acquired (a)	222,684
Purchase consideration (b)	773,105
Goodwill (b) – (a)	$	550,421

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the consummation of the Simplebet Transaction on the Simplebet Closing Date. The values set forth below are preliminary, pending finalization of valuation analyses:


Cash and cash equivalents	$	5,002
Accounts receivable	931
Prepaid expenses and other current assets	282
Operating lease right-of-use assets	144
Property and equipment	32
Intangible assets	62,120
Total identifiable assets acquired	68,511
Liabilities assumed:
Accounts payable and accrued expenses	5,374
Operating lease liabilities	144
Other long-term liabilities	11,500
Total liabilities assumed	17,018
Net assets acquired (a)	51,493
Estimated purchase consideration (b)	134,645
Estimated goodwill (b) - (a)	$	83,152