Advertisement

FanDuel and DraftKing's merger is just a fantasy after all

From Engadget - July 13, 2017

The companies, the two largest such sites on the internet, initially announced their plan back in November. They reasoned that doing so would result in "operational efficiencies and cost savings" that would "accelerate its path to profitability." Had the merger gone through, the combined business entity would have controlled 90 percent of the daily fantasy sports market. However, the FTC was having none of that talk and voted 2-0 to block the merger back in June.

This is the latest in a string of financial and legal setbacks for the betting sites. They have faced strict regulation from Texas to Washington and, just last year, were hit with a $12 million settlement from the state of New York over alleged false advertising claims.

Advertisement

Continue reading at Engadget »