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The Philadelphia 76ers have cut their ties with PartyPoker following a scandal that erupted two weeks ago within the Daily Fantasy Sports sector.
It remains to be seen whether this will cause a domino effect in the professional sports arena with many of the franchises entered into partnerships with DFS firms DraftKings and FanDuel.
While PartyPoker does not offer a Daily Fantasy Sports platform, the sports leagues have come under fire of late for deals that seemingly embrace gambling.
Sixers CEO Scott O'Neil confirmed Wednesday night that the partnership had ended, but declined to explain why the two businesses parted ways, other than to say that even multiyear partnerships such as this one have "triggers" that allow for "adjustments based on market opportunity."
The Daily Fantasy Sports industry has been sent in disarray following insider trading allegations whereby a DraftKings employee inadvertently posted player percentage breakdown data on a public form before himself winning $350,000 at competing firm FanDuel. Legal counsel for DraftKings insists the employee in question did not have access to said information at the time he made his picks on FanDuel.
Bwin.Party could not be reached for comment by Reuters Wednesday night.
It should be noted that Bwin.Party is currently in a state of flux with two companies fighting to acquire the European-based wagering company.
- Aaron Goldstein, Gambling911.com
