DraftKings has been considered one of the more successful deals in a recent wave of SPAC transactions marred by scandal and bad actors. Its stock is up ~398% from its announcement price. The company went public in a 3-way merger between (1) DraftKings, (2) its SPAC sponsor, and (3) a Bulgaria-based gaming technology company called SBTech. SBTech accounted for ~25% … Continue reading DraftKings: A $21 Billion SPAC Betting It Can Hide Its Black Market Operations