DraftKings Acquires Mustard Systems’ Golf Pricing Business
BOSTON – OCTOBER 14, 2024 – DraftKings Inc. (NASDAQ: DKNG) (“DraftKings” or the “Company”) today announced the completion of its acquisition of Dijon Systems Limited, which is the subsidiary of Mustard Systems that owns and operates its golf pricing business (“Mustard Golf”) (the “Transaction”). Mustard Golf is a leading B2B supplier of golf betting models and pricing, and the Transaction will allow DraftKings to bring golf pricing capabilities in-house and position the Company to have a differentiated and leading golf product with expanded offerings and coverage.
“Golf betting continues to gain traction amongst our players and adding Mustard Systems’ golf technology and its talented golf team will only sharpen our edge in creating an expansive and dynamic golf product offering,” said Greg Karamitis, Chief Revenue Officer at DraftKings. “This deal strengthens our ability to innovate in the golf space, and provides us with an opportunity to deliver fresh and exciting options for golf fans."
The experienced Mustard Golf trading team will bring its extensive live betting expertise to DraftKings, offering opportunities to improve the Company’s live golf content. In addition, DraftKings plans to leverage its own technology to further strengthen and enhance Mustard Golf’s pricing and operations, as well as optimize the Company’s overall golf performance.
Acquiring Mustard Golf’s advanced data models will enable DraftKings to expand its golf offering and introduce new bet types, which will broaden the depth and variety of available golf betting markets for DraftKings players and allow the Company to deliver a more robust and engaging customer experience.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states in addition to Washington D.C. and Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in three states under its Golden Nugget Online Gaming brand. DraftKings owns Jackpocket, the leading digital lottery app in the United States. DraftKings’ daily fantasy sports product is available in 44 states and certain Canadian provinces. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem with original programming. DraftKings is committed to being a responsible steward of this new era in real-money gaming with a Company-wide focus on responsible gaming and corporate social responsibility.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about the Company, Mustard Golf and their respective industries that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release, including statements regarding DraftKings’ future results of operations or financial condition, strategic plans and focus, user growth and engagement, product initiatives, and the objectives and expectations of management for future operations (including launches in new jurisdictions and the expected timing thereof), are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “confident,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “going to,” “intend,” “may,” “plan,” “poised,” “potential,” “predict,” “project,” “propose,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. DraftKings cautions you that the foregoing may not include all of the forward-looking statements made in this press release.
You should not rely on forward-looking statements as predictions of future events. DraftKings has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends, including the current macroeconomic environment, that it believes may affect its business, financial condition, results of operations, and prospects. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control and that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to, the risk that DraftKings’ acquisition of Mustard Golf disrupts current plans or operations; the ability to recognize the anticipated benefits of DraftKings’ acquisition of Mustard Golf; DraftKings’ ability to execute its business plans and meet its projections; potential litigation involving DraftKings; changes in applicable laws or regulations, particularly with respect to online gaming or similar businesses; general economic and market conditions impacting demand for DraftKings’ products and services; economic and market conditions in the media, entertainment, gaming, and software industries in the jurisdictions in which DraftKings operates; market and global conditions and economic factors, as well as the potential impact of general economic conditions, including inflation, rising interest rates and instability in the banking system, on DraftKings’ liquidity, operations and personnel, as well as the risks, uncertainties, and other factors described in “Risk Factors” in DraftKings’ filings with the Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that DraftKings makes from time to time with the SEC. The forward-looking statements contained herein are based on DraftKings management’s current expectations and beliefs and speak only as of the date hereof, and DraftKings makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law.