DraftKings Inc. has secured $1.35 billion in new financing through a $600 million term loan and a $750 million credit facility, according to a company filing.
The term loan, maturing in 2029, carries a floating interest rate tied to the Secured Overnight Financing Rate (SOFR) plus a margin, while the credit facility provides additional liquidity flexibility. Proceeds will be used for general corporate purposes, including refinancing existing debt and strengthening the company’s balance sheet.
DraftKings, a major player in the sports betting and online gaming sector, has expanded aggressively in recent years through acquisitions and market penetration. The new financing underscores its efforts to manage capital structure amid competitive pressures and regulatory scrutiny in the U.S. gaming industry.
The company did not disclose the lenders involved or the final pricing terms of the agreements. DraftKings’ shares were not materially impacted by the announcement in after-hours trading.
