{"id":13834,"date":"2026-08-21T08:49:46","date_gmt":"2026-08-21T07:49:46","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=13834"},"modified":"2026-08-21T08:49:49","modified_gmt":"2026-08-21T07:49:49","slug":"kenneth-dart-expands-gambling-portfolio-with-draftkings-investment","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2026\/08\/21\/kenneth-dart-expands-gambling-portfolio-with-draftkings-investment\/","title":{"rendered":"Kenneth Dart Expands Gambling Portfolio With DraftKings Investment"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Kenneth Dart<\/strong> has continued to be enticed by gambling industry investments, this time turning his attention to <strong>DraftKings.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A filing with <strong>the Securities and Exchange Commission (SEC) <\/strong>confirmed that Dart, via <strong>Candle Lake Investment,<\/strong> has acquired 28.58 million shares in DraftKings, giving him a 5.8% stake in the US company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dart already holds a roughly 30% stake in both <strong>Evolution and Flutter<\/strong>, as well as a 0.6% stake in <strong>Hacksaw Gaming.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Earlier this month, Candle Lake was forced into submitting a takeover bid valuing Evolution at around SEK 131.7bn (\u00a310.2bn) after increasing its share in the iGaming supplier to over 30%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, Dart and Candle Lake have made it clear they have little interest in taking full control of Evolution, as shown by Dart offering the minimum possible value per share of SEK 695 (approximately \u00a354).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A company statement from Candle Lake said: \u201cCandle Lake is a long-term investor and views its shareholding in Evolution as a financial investment in a well-managed, highly profitable business. The offer is not motivated by any intention to acquire all outstanding shares in Evolution.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Will Dart feel Flutter\u2019s woes?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dart also faces pressure over his Flutter shareholding.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He has accumulated around a 29% share in the group, 18.8% of which is held through normal shares and the remainder is held via total return swaps (TSRs).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, Flutter\u2019s struggles over the last year have seen the company\u2019s share price plummet, and reports suggest Dart could be exposed to covering a loss of over \u00a34bn when the TSRs expire in March 2028, unless Flutter&#8217;s fortunes turn around.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the time of writing, Flutter was trading at $92.89, down 68% from a 52-week peak of $309.4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The year has been marked with intensified pressure from prediction markets in the US and increased regulatory costs in the UK.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kenneth Dart has continued to be enticed by gambling industry investments, this time turning his attention to DraftKings. A filing with the Securities and Exchange Commission (SEC) confirmed that Dart, via Candle Lake Investment, has acquired 28.58 million shares in DraftKings, giving him a 5.8% stake in the US company. Dart already holds a roughly [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":13835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1,564],"tags":[17038,875,270,1047,4062,16870],"class_list":["post-13834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","category-slider","tag-candle-lake-investment","tag-draftkings","tag-evolution","tag-flutter","tag-hacksaw-gaming","tag-kenneth-dart"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kenneth Dart Expands Gambling Portfolio With DraftKings Investment - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"Kenneth Dart has continued to be enticed by gambling industry investments, this time turning his attention to DraftKings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2026\/08\/21\/kenneth-dart-expands-gambling-portfolio-with-draftkings-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenneth Dart Expands Gambling Portfolio With DraftKings Investment - 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