Welcome

Playtech Activist Investor Floats Idea of Takeover by DraftKings

Aug. 14, 2020, 7:28 PM

It’s been a tough day for DraftKings Inc., with the online gambling company reporting a steeper-than-expected loss and facing a tax issue that could squeeze it even more.

Jason Ader, a longtime casino-industry investor, think he knows what could help. He’s pitching the idea of DraftKings acquiring one of his holdings, the European gaming company Playtech Plc, as a way to shore up profit.

Playtech, an established player in Europe, generated earnings before interest, taxes, depreciation and amortization of 383 million euros ($453 million) last year. But its market value is less than $2 billion, compared with...

To read the full article log in. To learn more about a subscription click here.