DraftKings and FanDuel abandon dream sports merger

13 July 2017

Fantasy sports websites DraftKings and FanDuel have actually deserted a strategy to combine, less than a month after US competition regulators sought to block the offer.
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The deal would have created a company with control over 90% of the market for paid, daily fantasy sports contests, federal government authorities said.
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The firms stated the offer would lead to greater investment, supplying advantages for customers.
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They stated they would now look to grow separately.

FanDuel began in Scotland in 2009 and is now based in New york city. It is second in the US for paid daily fantasy sports contests behind DraftKings, which started in Boston in 2012.

Fantasy sport firm FanDuel alerts of hazard from US policies
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The two firms specialise in a subset of fantasy sports, in which fans pick players to produce groups for single video games, instead of the season, with the possible to win prize money based upon the outcome.
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In November, they stated they had consented to merge. Terms were not disclosed.

At the time, they stated the bet9ja's welcome offer would enable them to integrate forces on regulatory issues raised by US regulators, who had actually compared the market to unlawful betting and banned the websites in some states.

Nigel Eccles, head of FanDuel, stated it made sense to move forward separately.
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"There is still enormous, untapped market chance for FanDuel, and we will continue to perform our technique to grow our company and more broaden the fantasy sports industry," he said in a declaration.
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Draft Kings president Jason Robbins likewise the merger would allow the company to "singularly focus" on development, including internationally.

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