FanDuel and DraftKings’ dream of merging into a fantasy sports colossus ended today following the Federal Trade Commission’s decision last month to sue to block the deal.
The companies “believed that this deal would have increased investment in growth and product development thereby benefiting consumers and the greater…
Updated with DraftKings/FanDuel statement: The Federal Trade Commission just threw a flag on the proposed merger of fantasy sports sites DraftKings and FanDuel.
The regulatory agency — working with Attorneys General for California and D.C. — authorized a suit to stop the deal, charging it would violate antitrust laws…
Embattled fantasy sports companies DraftKings and FanDuel have agreed to merge, a move that they say will provide them with “operational efficiencies and cost savings” that will “accelerate [their] path to profitability.”
They didn’t disclose the terms of the deal. But DraftKings’ Jason Robins will be CEO while FanDuel…
New York Attorney General Eric Schneiderman said today that the state has reached a settlement with daily fantasy sports sites DraftKings And FanDuel, ending the state’s high-profile investigation into alleged false and deceptive advertising practices by the companies in the Empire State.
Each company has agreed to pay…
EXCLUSIVE: The rise of daily fantasy sports via sites like FanDuel and DraftKings has captivated millions of sports fans — and several states’ attorneys general — and now the saga is being developed as a major studio film. TriStar Pictures just optioned movie rights for an upcoming book described as “The Big Short in…
"I'm pleased to announce that both FanDuel and DraftKings will stop taking bets in New York State, consistent with New York State law and the cease-and-desist orders my office issued at the outset of this matter,” a somewhat triumphant New York Attorney General Eric Schneiderman said today. “As I’ve said from the…
Just two days before the Super Bowl, FanDuel and DraftKings suffered a major blow today as Citigroup announced that they would no longer process financial transactions for the fantasy sports sites in the Empire State. This action by one of the largest banks in the nation comes as the sites are engaged in a legal…
New York Attorney General Eric Schneiderman filed an amended lawsuit against FanDuel and DraftKings on New Year’s Eve that seeks to have the daily fantasy sports sites return the money it made off New Yorkers, and that the sites pay up to $5,000 per case in fines.
Another state has bet against fantasy sports sites FanDuel and DraftKings and moved them into the illegal gambling column. Illinois Attorney General Lisa Madigan told legislators today that the sites are breaking the laws of the Prairie State.
"Absent legislation specifically exempting daily fantasy sports contests fro…
UPDATE, 1:06 PM: Hours after having the plug seemingly pulled by a state judge, DraftKings and FanDuel are back in business in New York state — at least for now. An Appeals Court has granted the fantasy sports sites a temporary stay of the injunctions ruling from Judge Manuel Mendez this morning.
Awaiting a formal appe…
DraftKings and FanDuel can keep doing business in New York for at least a little while longer. After a hearing today, New York State Supreme Court Judge Manuel Mendez said that he will rule soon on New York State Attorney General Eric Schneiderman’s petition to bar the daily fantasy sports sites from doing business in…
The ripple effects in media from New York State’s crackdown on fantasy sports sites DraftKings and FanDuel might be bigger than many industry watchers imagined, according to two reports out today.
Analyses by MoffettNathanson Research’s Michael Nathanson and Bernstein Research’s Todd Juenger show that ad outlays by the…
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