Proposal to merge fantasy sports leaders DraftKings, FanDuel no more
July 14, 2017 8:07 AM
by Robert Mann
The proposal that would merge the two daily fantasy sports leaders, DraftKings and FanDuel, is no more.
Thursday, leaders from each side said the decision to call off the planned merger was mutual.
In June, the Federal Trade Commission said it would sue to stop the union, saying the joining of the two most prominent DFS sites would create a virtual monopoly in the industry. DraftKings and FanDuel comprise more than 90 percent of America’s paid DFS competitions.
Industry observers noted when the merger was proposed so DraftKings and FanDuel, once bitter rivals, could join forces to face mounting legal challenges across the country as state governments sought to determine if DFS is gambling or a skill-based endeavor.