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DraftKings Closes Business Combination with Diamond Eagle Acquisition Corporation and SBTech

April 24, 2020

Washington, D.C. – Paul Hastings LLP, a leading global law firm, announced that the firm served as gaming regulatory counsel for Diamond Eagle Acquisition Corporation in the business combination with DraftKings, a digital sports entertainment and gaming company known for its industry-leading daily fantasy sports and mobile sports betting platform, and SBTech. The business combination was approved on April 23, 2020, creating the only vertically integrated pure-play sports betting and online gaming company based in the United States.

On April 24, 2020, DraftKings’ shares of Class A common stock began trading on the Nasdaq Global Select Market.

The Paul Hastings team was led by Behnam Dayanim, chair of the firm’s Advertising, Gaming and Promotions practice, and included Holly Flynn.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.