DraftKings Offers $1 Billion In Convertible Notes

DraftKings announced a $1 billion convertible note offering yesterday, but with almost $2 billion in cash already on their balance sheet, what will they use it for?

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Friends,

DraftKings, the leading daily fantasy sports contest and sports betting operator, announced yesterday that they are raising $1 billion through convertible notes.

The interesting part?

They already ha…