draftkings-and-fanduel-abandon-fantasy-sports-merger

DraftKings and FanDuel desert fantasy sports merger
bet9ja.com
13 July 2017

Fantasy sports websites DraftKings and FanDuel have actually deserted a strategy to merge, less than a month after US competitors regulators looked for to obstruct the yohaig code offer.
bit.ly
The deal would have developed a company with control over 90% of the market for paid, day-to-day dream sports contests, federal government authorities stated.
bet9ja.com
The companies stated the deal would lead to higher financial investment, supplying benefits for consumers.
bet9ja.com
They stated they would now aim to grow independently.

FanDuel started in Scotland in 2009 and is now based in New york city. It is second in the US for paid daily dream sports contests behind DraftKings, which began in Boston in 2012.
bet9ja.com
Fantasy sport firm FanDuel warns of threat from US regulations

The 2 companies specialise in a subset of dream sports, in which fans select players to develop teams for single games, instead of the season, with the yohaig code potential to win prize money based on the result.

In November, they said they had consented to combine. Terms were not revealed.
bet9ja.com
At the time, they said the offer would enable them to integrate forces on regulatory concerns raised by US regulators, who had compared the yohaig code market to illegal betting and prohibited the websites in some states.
bit.ly
Nigel Eccles, head of FanDuel, said it made sense to move on independently.

"There is still huge, untapped market opportunity for FanDuel, and we will continue to perform our technique to grow our service and further broaden the fantasy sports market," he stated in a statement.

Draft Kings Robbins also stated terminating the merger would permit the firm to "singularly focus" on development, consisting of worldwide.

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