DraftKings confirms that, following further analysis and discussions with the Entain board of directors, it will not make a firm offer for Entain.

Jason Robins DraftKings CEO, Co-Founder and Chairman of the Board said: “After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time.

Based on our vertically-integrated technology stack, best-in-class product and technology capabilities and leading brand, we are highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market.”

DraftKings shares jumped 7% in premarket trading in New York, while Entain shares fell 11% on the London Stock Exchange.