DraftKings and FanDuel abandon fantasy sports merger

13 July 2017

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

The deal would have created a business with control over 90% of the market for paid, daily fantasy sports contests, government officials stated.

The firms stated the deal would lead to higher financial investment, offering advantages for consumers.
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They stated they would now aim to grow individually.
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FanDuel started in Scotland in 2009 and is now based in New york city. It is number 2 in the yohaig code US for paid daily dream sports contests behind DraftKings, which began in Boston in 2012.
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Fantasy sport company FanDuel warns of hazard from US policies

The two firms specialise in a subset of dream sports, in which fans select gamers to develop teams for single video games, instead of the season, with the possible to win cash prizes based on the outcome.
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In November, they said they had actually accepted merge. Terms were not revealed.
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At the time, they said the deal would enable them to integrate forces on regulative concerns raised by US regulators, who had actually compared the market to illegal gaming and banned the websites in some states.
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Nigel Eccles, head of FanDuel, stated it made good sense to progress separately.
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"There is still huge, untapped market opportunity for FanDuel, and we will continue to perform our strategy to grow our service and more expand the fantasy sports market," he said in a declaration.

Draft Kings president Jason Robbins likewise stated terminating the merger would allow the firm to "singularly focus" on development, consisting of internationally.

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