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

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DraftKings and FanDuel abandon fantasy sports merger

13 July 2017

Fantasy sports sites DraftKings and FanDuel have actually abandoned a strategy to merge, less than a month after US competitors regulators looked for to block the deal.

The bet9ja's welcome offer would have created a business with control over 90% of the marketplace for paid, day-to-day fantasy sports contests, federal government authorities said.
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The firms stated the bet9ja's welcome offer would cause greater financial investment, supplying benefits for consumers.

They stated they would now aim to grow individually.

FanDuel began in Scotland in 2009 and is now based in New york city. It is number 2 in the yohaig code US for paid daily fantasy sports contests behind DraftKings, which began in Boston in 2012.
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Fantasy sport company of hazard from US guidelines
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The two companies specialise in a subset of fantasy sports, in which fans pick players to develop groups for single games, instead of the season, with the yohaig code possible to win prize money based upon the outcome.
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In November, they stated they had agreed to combine. Terms were not disclosed.

At the time, they said the bet9ja's welcome offer would permit them to combine forces on regulatory issues raised by US regulators, who had compared the industry to illegal betting and prohibited the sites in some states.
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Nigel Eccles, head of FanDuel, stated it made good sense to move forward independently.
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"There is still huge, untapped market chance for FanDuel, and we will continue to execute our technique to grow our organization and further broaden the fantasy sports market," he said in a statement.

Draft Kings primary executive Jason Robbins also said ending the merger would allow the yohaig code company to "singularly focus" on development, including internationally.

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