DraftKings and FanDuel abandon fantasy sports merger

13 July 2017

Fantasy sports sites DraftKings and FanDuel have abandoned a plan to combine, less than a month after US competitors regulators looked for to block the bet9ja's welcome offer.
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The deal would have created a company with control over 90% of the market for paid, everyday fantasy sports contests, government officials stated.
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The companies said the deal would lead to higher financial investment, offering benefits for customers.
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They stated they would now want 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 US for paid daily fantasy sports contests behind DraftKings, which started in Boston in 2012.
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The two firms specialise in a subset of dream sports, in which fans choose gamers to create groups for single video games, instead of the season, with the possible to win cash rewards based on the outcome.
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In November, they said they had concurred to merge. Terms were not revealed.
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At the yohaig code time, they said the deal would permit them to combine forces on regulatory concerns raised by US regulators, who had actually compared the market to prohibited gambling and prohibited the sites in some states.
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Nigel Eccles, head of FanDuel, stated it made good sense to move on individually.
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"There is still enormous, untapped market chance for FanDuel, and we will continue to execute our technique to grow our service and more broaden the dream sports market," he stated in a statement.

Draft Kings chief Robbins also said terminating the merger would allow the company to "singularly focus" on growth, consisting of globally.

Last year there were an estimated 57 million dream sports players in the US alone.