DraftKings And FanDuel Abandon Fantasy Sports Merger

DraftKings and FanDuel abandon dream sports merger
bit.ly
13 July 2017
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Fantasy sports sites DraftKings and FanDuel have actually deserted a strategy to merge, less than a month after US competition regulators looked for to obstruct the offer.
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The offer would have developed a company with control over 90% of the marketplace for paid, everyday fantasy sports contests, government officials stated.
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The firms said the offer would lead to greater investment, supplying advantages for customers.

They stated they would now look to grow separately.

FanDuel started in Scotland in 2009 and is now based in New york city. It is second in the US for paid daily fantasy sports behind DraftKings, which started in Boston in 2012.

Fantasy sport company FanDuel warns of danger from US regulations

The two companies specialise in a subset of fantasy sports, in which fans pick players to develop groups for single games, instead of the season, with the possible to win money rewards based on the outcome.
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In November, they stated they had actually consented to merge. Terms were not disclosed.

At the time, they said the deal would enable them to combine forces on regulative concerns raised by US regulators, who had actually compared the market to unlawful gaming and banned the sites in some states.
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Nigel Eccles, head of FanDuel, stated it made good sense to move on independently.
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"There is still enormous, untapped market opportunity for FanDuel, and we will continue to perform our technique to grow our service and additional expand the yohaig code fantasy sports industry," he stated in a declaration.
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Draft Kings chief executive Jason Robbins likewise said ending the merger would enable the company to "singularly focus" on growth, including internationally.

Last year there were an estimated 57 million dream sports gamers in the US alone.