George Soros enters the sports betting sector in the US by positioning himself as a shareholder in the Fantasy Sports and Betting leader DraftKings
George Soros' investment fund, Soros Fund Management, has become one of the most relevant equity owners of the popular American fantasy sports company in just a month since DraftKings went public.
DraftKings is up 40% since the Boston-based company went public through a reverse merger on April 23. Shares gained 7.5% this week after reports emerged that famed investor George Soros owns 2.7 million shares of the class A stock through an investment vehicle he runs called Quantum Partners.
DraftKings disclosed the holding in a filing with the Securities and Exchange Commission last week. Other investors include Walt Disney, which operates the sports channel EPSN, and the National Hockey League.
