DraftKings And FanDuel Abandon Fantasy Sports Merger

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DraftKings and FanDuel abandon dream sports merger
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13 July 2017
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Fantasy sports websites DraftKings and FanDuel have actually deserted a strategy to combine, less than a month after US sought to block the deal.
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The offer would have developed a company with control over 90% of the market for paid, everyday dream sports contests, federal government officials said.


The companies stated the bet9ja's welcome offer would result in greater financial investment, providing benefits for customers.


They said they would now look to grow independently.


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 began in Boston in 2012.
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Fantasy sport firm FanDuel warns of hazard from US guidelines


The 2 firms specialise in a subset of fantasy sports, in which fans select players to develop groups for single games, rather of the season, with the potential to win prize money based on the outcome.


In November, they said they had actually consented to combine. Terms were not divulged.


At the time, they said the deal would enable them to integrate forces on regulative problems raised by US regulators, who had actually compared the industry to prohibited gambling and banned the sites in some states.


Nigel Eccles, head of FanDuel, said it made sense to move on individually.
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"There is still massive, untapped market chance for FanDuel, and we will continue to perform our strategy to grow our organization and additional expand the dream sports industry," he stated in a declaration.
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Draft Kings president Jason Robbins likewise said terminating the merger would enable the company to "singularly focus" on development, including globally.


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