Daily fantasy execs say legal war led to merger
November 21, 2016 8:50 AM
by Staff & Wire Reports
DraftKings and FanDuel’s executives say the last year of battling with regulators across the country for their industry’s survival helped bring about the merger of the once bitter daily fantasy sports rivals.
DraftKings CEO Jason Robins, who will take over as chief executive of the combined company, told The Associated Press Friday following the merger announcement that the costly legal war showed how much of a “common vision” and “common goal” the two companies shared.
FanDuel CEO Nigel Eccles, who will serve as board chairman, also played down concerns about the merger possibly running afoul of federal antitrust laws.
He says the merger will help competition in the relatively new industry, which is an offshoot of traditional, season-long fantasy sports.
Eccles says a combined company will help better push for regulatory clarity around the games, which have been likened to illegal sports betting.