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 abandoned a strategy to merge, less than a month after US competitors regulators looked for to obstruct the deal.

The deal would have developed a business with control over 90% of the marketplace for paid, daily dream sports contests, government authorities said.

the yohaig code firms stated the offer would result in greater financial investment, supplying advantages for customers.

They said they would now aim to grow individually.

FanDuel began in Scotland in 2009 and is now based in New York. It is number 2 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 alerts of threat from US regulations

The two firms specialise in a subset of dream sports, in which fans pick gamers to develop teams for single video games, instead of the season, with the potential to win prize money based on the outcome.

In November, they stated they had actually agreed to merge. Terms were not revealed.
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At the time, they stated the deal would allow them to combine forces on regulatory issues raised by US regulators, who had compared the market to prohibited betting and prohibited the sites in some states.

Nigel Eccles, head of FanDuel, said it made sense to move on separately.

"There is still huge, untapped market chance for FanDuel, and we will continue to execute our method to grow our service and more expand the fantasy sports industry," he said in a statement.
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Draft Kings primary executive Jason Robbins also stated terminating the merger would permit the to "singularly focus" on development, consisting of worldwide.

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