Latest in DraftKings

The DraftKings All-American Team Cup in Atlanta, GA. had a player test positive for COVID-19 after playing in the match. About 450 fans attended the exhibition, which was carried on The Tennis Channel. On Friday, team captain Frances Tiafoe tested positive for COVID-19. A statement from the event was released Saturday…

DraftKings reported a 30% upswing in first-quarter revenue from its core sports betting operations as wider legalization offset the impact of COVID-19. Revenue hit $88.5 million as net losses widened to $68.7 million from $29.6 million in the year-ago quarter. The company is newly consolidated, so the numbers stem…

While COVID-19 has turned the lights out on college and pro sports for the time being, sports betting firm DraftKings went public Friday after closing a $3.3 billion, three-way merger with Hollywood ties. The company’s shares rose more than 12% in early trading after opening at $17.53 on the Nasdaq under the ticker…

Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition company. The new entity’s IPO, launching Friday, has been priced at $10 per unit for 60,000,000 units, which each consisting of one share of Class A common stock and one-fourth of one…

Sports betting giant DraftKings will go public as part of a $3.3 billion, three-way merger with SBTech and Diamond Eagle Acquisition Corp., a firm founded by Hollywood veterans Harry Sloan and Jeff Sagansky. With legal restrictions around sports wagering beginning to ease across the country, DraftKings has been a…

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…

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…

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…

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…