DraftKings Inc. has raised more than $100 million in a private investment round led by one of the owners of the Los Angeles Dodgers, an infusion of cash that bolsters the company’s finances as it awaits federal review of its proposed merger with rival FanDuel Inc.

The round was led by Eldridge Industries, a media holding company whose properties include entertainment publications Billboard and The Hollywood Reporter. Eldridge is headed by Todd Boehly, one of the Dodgers’ principal owners.