v3.24.2.u1
Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Summary of Consideration Transferred at Closing The following is a summary of the consideration issued or paid on the Jackpocket Closing Date:
Cash consideration$450,924 
Equity consideration (1)
320,783 
Total consideration$771,707 

(1)Includes the issuance of approximately 7.5 million shares of DraftKings Inc.’s Class A common stock issued at $41.90 per share and $6.2 million of options exercisable for shares of DraftKings Inc.'s Class A common stock, which were issued to certain Jackpocket employee optionholders in exchange for their vested Jackpocket options.
Summary of Acquisition Purchase Price
The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed in connection with the consummation of the Jackpocket Transaction on the Jackpocket Closing Date. The values set forth below are preliminary, pending finalization of valuation analyses:

Cash and cash equivalents$45,999 
Cash reserved for users23,349 
Receivables reserved for users9,092 
Prepaid expenses and other current assets4,151 
Property and equipment1,523 
Intangible assets269,736 
Operating lease right-of-use assets2,579 
Deposits and other non-current assets136 
Total identifiable assets acquired$356,565 
Liabilities assumed:
Accounts payable and accrued expenses$33,961 
Liabilities to users16,877 
Operating lease liabilities2,580 
Other long-term liabilities80,463 
Total liabilities assumed$133,881 
Net assets acquired (a)$222,684 
Purchase consideration (b)$771,707 
Goodwill (b) – (a)$549,023 
Summary of Intangible Assets Acquired
Fair ValueWeighted-
Average
Useful Life
Customer Relationships$174,000 8.0 years
Developed Technology67,000 5.0 years
Trade Name27,000 7.0 years
Market Access1,736 2.9 years
Total$269,736