DraftKings And FanDuel Abandon Fantasy Sports Merger

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DraftKings and FanDuel abandon fantasy sports merger
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13 July 2017
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Fantasy sports websites DraftKings and FanDuel have actually abandoned a plan to combine, less than a month after US competitors regulators looked for to block the deal.
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The deal would have created a company with control over 90% of the marketplace for paid, daily fantasy sports contests, said.


The companies said the bet9ja's welcome offer would result in greater investment, providing advantages for consumers.
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They said they would now aim to grow separately.


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


Fantasy sport firm FanDuel warns of threat from US guidelines
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The 2 companies specialise in a subset of fantasy sports, in which fans choose players to produce teams for single video games, rather of the season, with the prospective to win prize money based on the result.
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In November, they stated they had consented to merge. Terms were not divulged.


At the time, they said the bet9ja's welcome offer would enable them to integrate forces on regulative concerns raised by US regulators, who had actually compared the market to unlawful gambling and banned the websites in some states.
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Nigel Eccles, head of FanDuel, said it made sense to progress separately.


"There is still huge, untapped market opportunity for FanDuel, and we will continue to perform our strategy to grow our business and additional broaden the fantasy sports industry," he said in a declaration.
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Draft Kings primary executive Jason Robbins likewise stated terminating the merger would permit the company to "singularly focus" on development, consisting of globally.


In 2015 there were an approximated 57 million fantasy sports gamers in the US alone.
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