Kenneth Dart acquires 5.8% DraftKings stake through Candle Lake

By SectorWire desk · 19 August 2026

Summary

Kenneth Dart has acquired 5.8% of DraftKings DKNG · USD 18.90 2026-10-16 Data through his investment group Candle Lake. Dart also holds almost 30% of Flutter FLUT · USD 75.60 2026-10-16 Data, which owns FanDuel.

Dart’s DraftKings investment adds to his gambling holdings alongside an almost 30% stake in FanDuel owner Flutter.

Entities and relations reported in this entry and our coverage.

Linked through shared companies, regulators and people, or one step further through the graph.

5 OctDeals & M&A

shares DraftKings

DraftKings and Flutter share declines reflect investor concerns over weaker earnings, promotional spending and prediction market competition.

2 OctDeals & M&A

shares DraftKings

Fanatics’ potential $1bn advertising spend would support its effort to challenge DraftKings and FanDuel in US sports betting.

2 OctDeals & M&A

shares DraftKings

Fanatics plans to increase marketing spending from $350m to $800m, potentially $1bn, to narrow the gap with DraftKings and FanDuel.

22 JulDeals & M&A

shares DraftKings

The report presents competing assessments of prediction markets’ impact on Flutter’s sportsbook activity.

25 AugDeals & M&A

shares Kenneth Dart

Shareholders face an offer below Evolution’s current trading price, with the board advising them to decline.

24 AugDeals & M&A

shares Kenneth Dart

Evolution’s board rejection signals to investors that it considers Candle Lake’s mandatory takeover offer below the company’s value.