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

DraftKings and FanDuel desert fantasy sports merger

13 July 2017

Fantasy sports websites DraftKings and FanDuel have actually abandoned a to combine, less than a month after US competitors regulators sought to obstruct the yohaig code offer.
bet9ja.com
The deal would have created a business with control over 90% of the marketplace for paid, daily dream sports contests, federal government officials said.
bit.ly
The companies said the deal would cause greater financial investment, offering benefits for customers.
bet9ja.com
They stated they would now look to grow independently.
bet9ja.com
FanDuel started in Scotland in 2009 and is now based in New York. It is number 2 in the US for paid daily fantasy sports contests behind DraftKings, which started in Boston in 2012.
bit.ly
Fantasy sport company FanDuel warns of risk from US regulations
bet9ja.com
The 2 firms specialise in a subset of fantasy sports, in which fans pick players to develop teams for single games, instead of the season, with the potential to win prize money based upon the outcome.

In November, they stated they had concurred to combine. Terms were not divulged.
bet9ja.com
At the time, they said the yohaig code bet9ja's welcome offer would enable them to combine forces on regulatory concerns raised by US regulators, who had actually compared the industry to unlawful gambling and banned the websites in some states.
bit.ly
Nigel Eccles, head of FanDuel, said it made good sense to progress individually.
bet9ja.com
"There is still huge, untapped market opportunity for FanDuel, and we will continue to perform our method to grow our company and additional expand the dream sports market," he said in a declaration.

Draft Kings president Jason Robbins likewise stated terminating the yohaig code merger would permit the company to "singularly focus" on development, consisting of globally.

In 2015 there were an estimated 57 million fantasy sports players in the yohaig code US alone.