Investments in the gambling sector continue to interest Kenneth Dart, who is now focusing on DraftKings.

Dart has acquired 28.58 million shares in DraftKings through Candle Lake Investment, giving him a 5.8% ownership in the US company, according to a filing with the Securities and Exchange Commission (SEC).

Dart now owns 0.6% of Hacksaw Gaming and about 30% of Evolution and Flutter.

After growing its stake in the iGaming supplier to more than 30%, Candle Lake was compelled to launch a takeover offer earlier this month, valuing Evolution at about SEK 131.7 billion (£10.2 billion).

However, Dart's offer of the lowest feasible value for each share of SEK 695 (about £54) demonstrated that Dart and Candle Lake have no interest in assuming complete control of Evolution.

"Candle Lake is a long-term investor and views its shareholding in Evolution as a financial investment in a well-managed, highly profitable business," the company said in a statement. The offer is not driven by a desire to purchase all of Evolution's outstanding shares.

Will Flutter's problems affect Dart?
Dart's ownership stake in Flutter is another source of strain.

He now owns about 29% of the company, of which 18.8% are held through regular shares and the other portion through total return swaps (TSRs).

However, due to Flutter's difficulties over the past year, the company's share price has fallen. According to sources, unless Flutter's fortunes improve, Dart may have to cover a loss in value of more than £4 billion when the TSRs expire in March 2028.

Flutter is currently trading at $92.89, which is 68% less than its top of $309.4 over the previous 52 weeks.

rising regulatory expenditures in the UK and rising pressure from prediction markets in the US have characterized the year.