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DraftKings and FanDuel abandon fantasy sports merger

13 July 2017

Fantasy sports sites DraftKings and FanDuel have actually deserted a strategy to merge, less than a month after US competitors regulators sought to the deal.
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The deal would have developed a business with control over 90% of the marketplace for paid, everyday fantasy sports contests, federal government authorities stated.
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the yohaig code companies said the deal would lead to greater investment, supplying advantages for consumers.
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They said they would now seek to grow independently.
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FanDuel started in Scotland in 2009 and is now based in New york city. It is number 2 in the yohaig code US for paid daily dream sports contests behind DraftKings, which started in Boston in 2012.

Fantasy sport firm FanDuel alerts of danger from US regulations
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The two firms specialise in a subset of dream sports, in which fans pick gamers to develop teams for single games, rather of the season, with the potential to win money prizes based upon the outcome.
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In November, they stated they had actually consented to merge. Terms were not revealed.
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At the yohaig code time, they said the bet9ja's welcome offer would allow them to integrate forces on regulatory problems raised by US regulators, who had compared the market to illegal betting and banned the sites in some states.
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Nigel Eccles, head of FanDuel, stated it made sense to progress individually.
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"There is still huge, untapped market opportunity for FanDuel, and we will continue to perform our technique to grow our company and further expand the dream sports industry," he said in a statement.

Draft Kings president Jason Robbins also stated terminating the merger would allow the firm to "singularly focus" on growth, consisting of worldwide.

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