DraftKings And FanDuel Abandon Fantasy Sports Merger
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DraftKings and FanDuel desert dream sports merger
13 July 2017

Fantasy sports sites DraftKings and FanDuel have abandoned a strategy to combine, less than a month after US competitors regulators sought to block the deal.
The deal would have developed a business with control over 90% of the market for paid, everyday fantasy sports contests, government officials stated.

The firms stated the deal would lead to higher investment, providing benefits for customers.

They said they would now seek to grow individually.

FanDuel began in Scotland in 2009 and is now based in New York. It is number 2 in the US for paid daily dream sports contests behind DraftKings, which began in Boston in 2012.

Fantasy sport company FanDuel warns of risk from US guidelines
The two firms specialise in a subset of dream sports, in which fans select players to for single video games, instead of the season, with the possible to win prize money based on the outcome.

In November, they said they had actually consented to merge. Terms were not disclosed.
At the time, they stated the bet9ja's welcome offer would allow them to combine forces on regulative concerns raised by US regulators, who had actually compared the market to unlawful betting and prohibited the sites in some states.
Nigel Eccles, head of FanDuel, stated it made good sense to move forward individually.
"There is still enormous, untapped market chance for FanDuel, and we will continue to execute our method to grow our company and additional expand the fantasy sports market," he said in a statement.

Draft Kings chief executive Jason Robbins also said terminating the merger would allow the firm to "singularly focus" on development, including internationally.
Last year there were an estimated 57 million dream sports players in the US alone.

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