draftkings-and-fanduel-abandon-fantasy-sports-merger

DraftKings and FanDuel desert dream sports merger

13 July 2017

Fantasy sports sites DraftKings and FanDuel have actually deserted a plan to combine, less than a month after US competitors regulators sought to obstruct the deal.
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The bet9ja's welcome offer would have developed a company with control over 90% of the marketplace for paid, daily fantasy sports contests, federal government authorities stated.
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The firms stated the deal would lead to higher financial investment, offering benefits for customers.
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They said they would now seek to grow independently.
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FanDuel started in Scotland in 2009 and is now based in New york city. It is number 2 in the US for paid daily dream sports contests behind DraftKings, which began in Boston in 2012.
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Fantasy sport firm FanDuel cautions of risk from US policies
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The 2 in a subset of fantasy sports, in which fans pick gamers to create groups for single games, rather of the season, with the prospective to win prize money based upon the outcome.

In November, they stated they had agreed to merge. Terms were not disclosed.
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At the time, they said the deal would enable them to integrate forces on regulative problems raised by US regulators, who had compared the market to illegal gaming and prohibited the websites in some states.
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Nigel Eccles, head of FanDuel, stated it made sense to move on separately.
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"There is still massive, untapped market opportunity for FanDuel, and we will continue to perform our strategy to grow our company and additional expand the dream sports market," he said in a statement.

Draft Kings primary executive Jason Robbins likewise said terminating the merger would enable the company to "singularly focus" on growth, including internationally.

In 2015 there were an estimated 57 million fantasy sports gamers in the US alone.