DraftKings Finalizes Jackpocket Purchase

American gaming brand DraftKings has announced that they've finalized their purchase of lottery application group Jackpocket and have begun integrating the company into its operations.

The two companies came to a purchase agreement in February, with DraftKings paying $750 million for the company. Jackpocket services the US-facing lottery industry and will diversify DraftKings' operation. The company expects Jackpocket to generate up to $340 million in revenue annually. Jackpocket stands as the most downloaded lottery app in the United States, beating out the competition last year by almost nine times.

Regarding the purchase's completion, DraftKings CEO Jason Robins said: "Today we are announcing the completion of our acquisition of Jackpocket and the commencement of our value creation plan. 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."

Jackpocket CEO Peter Sullivan added: "The completion of the acquisition represents an exciting new chapter. Together, we are confident that we will be even more capable of helping lotteries fulfill 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."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

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