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DraftKings and FanDuel abandon dream sports merger

13 July 2017

Fantasy sports sites DraftKings and FanDuel have abandoned a plan to merge, less than a month after US sought to obstruct the offer.

The bet9ja's welcome offer would have produced a company with control over 90% of the market for paid, everyday fantasy sports contests, government authorities said.

The companies said the bet9ja's welcome offer would cause higher investment, offering advantages for customers.

They said they would now aim to grow independently.

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.

Fantasy sport company FanDuel alerts of threat from US policies

The two firms specialise in a subset of fantasy sports, in which fans select players to create groups for single games, instead of the yohaig code season, with the potential to win money prizes based on the outcome.

In November, they said they had actually consented to merge. Terms were not revealed.

At the time, they said the deal would allow them to combine forces on regulatory concerns raised by US regulators, who had actually compared the industry to illegal gambling and prohibited the websites in some states.

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

"There is still massive, untapped market chance for FanDuel, and we will continue to perform our strategy to grow our company and more broaden the fantasy sports market," he stated in a statement.

Draft Kings chief executive Jason Robbins likewise stated terminating the merger would permit the company to "singularly focus" on growth, consisting of internationally.

Last year there were an approximated 57 million fantasy sports players in the US alone.