DraftKings and FanDuel desert dream sports merger

13 July 2017

Fantasy sports websites DraftKings and FanDuel have abandoned a plan to combine, less than a month after US competitors regulators looked for to obstruct the deal.
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The deal would have created a business with control over 90% of the marketplace for paid, daily dream sports contests, federal government authorities stated.
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The companies stated the deal would lead to greater investment, supplying advantages for consumers.

They said they would now look to grow separately.
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FanDuel started in Scotland in 2009 and is now based in New York. It is second 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 warns of danger from US guidelines
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The 2 firms specialise in a subset of fantasy sports, in which fans choose gamers to produce groups for single games, instead of the season, with the yohaig code possible to win prize money based on the result.
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In November, they said they had accepted combine. Terms were not revealed.
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At the yohaig code time, they said the yohaig code deal would permit them to combine forces on regulatory issues raised by US regulators, who had compared the market to illegal gaming and prohibited the sites in some states.

Nigel Eccles, head of FanDuel, stated it made good sense to move forward independently.
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"There is still massive, untapped market opportunity for FanDuel, and we will continue to perform our technique to grow our business and more expand the dream sports market," he said in a declaration.

Draft Kings primary executive Jason Robbins likewise said ending the merger would allow the firm to "singularly focus" on growth, consisting of globally.

In 2015 there were an approximated 57 million dream sports in the US alone.