DraftKings, FanDuel Are Merging

Written by:
C Costigan
Published on:
Nov/18/2016

(Associated Press) - Daily fantasy sports rivals DraftKings and FanDuel have agreed to merge after months of speculation and increasing regulatory scrutiny. 

The two companies made the announcement Friday but didn't release financial terms. The deal isn't expected to be finalized until later in 2017 and still requires federal approval.

Industry experts say the merger will likely raise anti-trust concerns with regulators since the companies control nearly 90% of the market. 

Company officials say the merger will help cut costs as the two fight to remain legal in states across the country.

Daily fantasy sports competitions are online games in which players pick teams of real life athletes and vie for prizes based on how those athletes perform in actual games. 

But state regulators have questioned whether the competitions amount to illegal sports betting. 

Daily fantasy sports competitions are online games in which players pick teams of real life athletes and vie for prizes based on how those athletes perform in actual games. 

But state regulators have questioned whether the competitions amount to illegal sports betting. 

Gambling News

Legal Sports Betting Could Save Ailing U.S. Newspaper Industry

Somach: Legal Sports Betting Could Save Ailing U.S. Newspaper Industry

The list of daily and weekly newspapers in the U.S. that have gone out of business in recent years is staggering....and legalized sports betting could be the saviour.

MGM China Now Joins Hands With Fighters Of Modern Day Slavery In Macau

MGM China Now Joins Hands With Fighters Of Modern Day Slavery In Macau

MGM China, a facility that is under MGM Resorts is joining hands in the fight of modern-day slavery.  The casino signs a deal to take part in ending the slave and sex trade to show its commitment. 

Bovada Jackpot Triggers Twice in Three Days

Bovada Jackpot Triggers Twice in Three Days

It's been a big week in the world of jackpot wins.  Just the other day, Detroit's Motor City Casino recorded the biggest bad beat jackpot win ever with six  players splitting $427,452 and now comes word of some big jackpot wins at Bovada

2018 ICE London Affiliate Show Vows to Treat Women With Respect

2018 ICE London Affiliate Show Vows to Treat Women With Respect

The #MeToo movement will make its way into the online gambling affiliate sphere in three weeks with organizers of ICE London vowing to ensure a more respectful environment for women while operators and exhibiters were scrambling to clean up their acts.

FBI Investigating New 'Person of Interest' in Vegas Mass Shooting

The US Federal Bureau of Investigation is looking at a new person of interest in connection with the October mass shooting at a concert in Las Vegas that left 58 people dead, the county sheriff said.

Syndicate