International edition
June 24, 2021

FTC moves to block merger of fantasy sports giants

FanDuel-DraftKings deal draws more opposition

FanDuel-DraftKings deal draws more opposition
Together with California and Washington D.C, the Federal Trade Commission said it would file a suit to temporarily stop the two fantasy sports sites, which own 90% of the daily fantasy business, from combining into what its officials believe would be an i
United States | 06/20/2017

Together with California and Washington D.C, the Federal Trade Commission said it would file a suit to temporarily stop the two fantasy sports sites, which own 90% of the daily fantasy business, from combining into what its officials believe would be an illegal monopoly.

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The proposed merger would deprive customers of the substantial benefits of direct competition between DraftKings and FanDuel," said Tad Lipsky, the FTC's acting director of its Bureau of Competition.

The companies agreed to merge in November

After the battle to reign supreme (an estimated $750 million in marketing was spent by the two companies in fall 2015) and political battles with states as to whether daily fantasy was to be considered gambling.

"We are disappointed by this decision and continue to believe that a merger is in the best interest of our players, our companies, our employees and the fantasy sports industry," said DraftKings CEO Jason Robins and FanDuel CEO Nigel Eccles in a joint statement. "We are considering all our options at this time."

The trial, the FTC notes, would commence on Nov. 21.

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