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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION
13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 28, 2025 (October 24, 2025)
DRAFTKINGS INC.
(Exact name of registrant as specified in its charter)
| Nevada | 001-41379 | 87-2764212 |
| (State or other jurisdiction of incorporation) |
(Commission |
(IRS Employer Identification No.) |
222 Berkeley Street, 5th Floor
Boston, MA 02116
(Address of principal executive offices, including zip code)
(617) 986-6744
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
||
| Class A common stock, par value $0.0001 per share | DKNG | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On October 24, 2025, the Board of Directors (the “Board”) of DraftKings Inc. (the “Company”) appointed Gregory W. Wendt an independent member of the Board effective as of the same date. Mr. Wendt was appointed to the Board following the recommendation of its Nominating and Corporate Governance Committee. The Board has appointed Mr. Wendt to serve as a member of its Nominating and Corporate Governance Committee.
Mr. Wendt retired from the Capital Group Companies as a Partner on July 1, 2025. During his over 37 years at the firm, which manages the American Funds family of mutual funds, Mr. Wendt’s principal role was as an investment analyst and portfolio manager. Among his areas of research focus as an investment analyst was the global casino sector. Mr. Wendt currently serves as a Trustee of the University of Chicago. Mr. Wendt received an A.B. in Economics from the University of Chicago and an M.B.A. from Harvard University. The Board determined that Mr. Wendt meets the independence requirements of NASDAQ and SEC rules and regulations. The Board concluded Mr. Wendt should serve as a member of the Board due to, among other things, his financial, investment and managerial experience, acquired, in part, during his tenure with Capital Group.
There are no arrangements or understandings between Mr. Wendt and any person pursuant to which Mr. Wendt was appointed as a director of the Company. There are no family relationships between Mr. Wendt and any other director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the SEC.
Mr. Wendt will participate in the compensation program for the Company’s independent directors, which is described on Page 57 of the Company’s Definitive Proxy Statement for its 2025 Annual Meeting of Shareholders, filed with the SEC on March 26, 2025.
Item 7.01 Regulation FD Disclosure
On October 28, 2025, the Company issued a press release announcing Mr. Wendt’s appointment, a copy of which is attached hereto as Exhibit 99.1. The Company undertakes no obligation to update, supplement or amend the press release attached hereto as Exhibit 99.1.
The information in this Item 7.01 and Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |
| 99.1 | Press Release, dated as of October 28, 2025, reporting director appointment. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DRAFTKINGS INC. | ||
| Dated: October 28, 2025 | By: | /s/ R. Stanton Dodge |
| Name: R. Stanton Dodge | ||
| Title: Chief Legal Officer and Secretary | ||
Exhibit 99.1
DraftKings Appoints Gregory W. Wendt to Board of Directors
BOSTON – Oct. 28, 2025 – DraftKings Inc. (Nasdaq: DKNG) today announced the appointment of Gregory W. Wendt to its Board of Directors as an independent director, effective October 24, 2025. Mr. Wendt’s appointment follows the recommendation of the Board’s Nominating and Corporate Governance Committee, and he will also serve as a member of that committee.
“Greg brings deep expertise in investment management and a strong understanding of the gaming sector,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-Founder. “His insights will be invaluable as we continue to scale our business, enhance the customer experience and strengthen DraftKings’ position as a leader in sports entertainment and technology.”
Mr. Wendt recently retired as a Partner of Capital Group Companies, one of the world’s largest investment management firms and parent company of the American Funds family of mutual funds. During a 37-year career with the firm, he served as an investment analyst and portfolio manager, with research responsibilities spanning the global casino sector and other leisure industries.
“I’m honored to join the DraftKings Board at such an exciting time for the company,” said Mr. Wendt. “DraftKings continues to redefine fan engagement and the gaming landscape through innovation that drives sustainable growth, and I look forward to supporting its future success.”
Mr. Wendt serves as a Trustee of the University of Chicago, where he earned his A.B. in Economics, and holds an M.B.A. from Harvard University.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The company is headquartered in Boston and was launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C. and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states and in Ontario, Canada, under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings’ daily fantasy sports product is available in 44 states, the District of Columbia and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly.
Contact
media@draftkings.com
@DraftKingsNews
Forward-Looking Statements
Certain statements made in this press release are “forward looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” ”would,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ filings with the Securities and Exchange Commission. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.