DraftKings And FanDuel Abandon Fantasy Sports Merger

DraftKings and FanDuel abandon dream sports merger
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13 July 2017
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Fantasy sports websites DraftKings and FanDuel have actually deserted a strategy to combine, less than a month after US competition regulators sought to block the yohaig code offer.

the yohaig code deal would have developed a company with control over 90% of the market for paid, day-to-day dream sports contests, federal government authorities stated.
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The firms stated the bet9ja's welcome offer would cause higher investment, offering benefits for consumers.
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They said they would now aim to grow independently.

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

Fantasy sport firm FanDuel alerts of hazard from US policies
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The two companies specialise in a subset of dream sports, in which gamers to create groups for single games, rather of the season, with the prospective to win prize money based on the outcome.
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In November, they stated they had agreed to merge. Terms were not divulged.
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At the time, they stated the bet9ja's welcome offer would allow them to integrate forces on regulative problems raised by US regulators, who had compared the industry to unlawful gaming and prohibited the websites in some states.
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Nigel Eccles, head of FanDuel, said it made sense to move forward separately.
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"There is still massive, untapped market opportunity for FanDuel, and we will continue to execute our technique to grow our organization and further broaden the fantasy sports industry," he said in a statement.

Draft Kings primary executive Jason Robbins also stated ending the merger would enable the firm to "singularly focus" on growth, consisting of worldwide.

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