DraftKings and FanDuel abandon dream sports merger

13 July 2017

Fantasy sports websites DraftKings and FanDuel have abandoned a strategy to merge, less than a month after US competition regulators sought to obstruct the deal.

The offer would have created a company with control over 90% of the marketplace for paid, day-to-day fantasy sports contests, government officials said.

The companies said the bet9ja's welcome offer would result in higher investment, supplying benefits for consumers.

They said they would now look to grow separately.

FanDuel began 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.

Fantasy sport firm FanDuel warns of risk from US regulations

The 2 companies specialise in a subset of fantasy sports, in which fans choose gamers to develop teams for single video games, rather of the season, with the possible to win cash prizes based on the outcome.

In November, they said they had actually consented to combine. Terms were not disclosed.

At the time, they stated the yohaig code deal would permit them to integrate forces on regulative concerns raised by US regulators, who had compared the market to prohibited gambling and prohibited the websites in some states.

Nigel Eccles, head of FanDuel, said it made good sense to move forward separately.

"There is still massive, untapped market opportunity for FanDuel, and we will continue to execute our strategy to grow our service and further expand the fantasy sports market," he stated in a declaration.

Draft Kings president Jason Robbins likewise said ending the merger would enable the yohaig code firm to "singularly focus" on growth, including globally.

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