If you bet on either DraftKings or FanDuel to come out on top of the daily fantasy sports war, it turns out neither one will win.
The two companies have announced plans to merge into a fantasy powerhouse based in New York and Boston, the Dallas Business Journal reports.
DraftKings‘ co-founder and CEO Jason Robins will lead the merged company and FanDuel co-founder and CEO Nigel Eccles will become the company’s chairman, according to a news release.
“Being able to combine DraftKings and FanDuel presents a tremendous opportunity for us to further innovate and disrupt the sports industry.”
Nigel Eccles
“Being able to combine DraftKings and FanDuel presents a tremendous opportunity for us to further innovate and disrupt the sports industry,” Eccles said in the release. “While both companies have accomplished much already, this transaction will create a business that can offer a greater variety of offerings, appealing to new users, including the tens of millions of season-long fantasy players that haven’t yet tried our products.”
Dallas Mavericks owner Mark Cuban definitely picked a side back in 2014, having his NBA franchise partner with FanDuel as an official sponsor.
Daily fantasy sports has become controversial in recent years with many states cracking down on it because they see it as gambling.
Cuban more recently invested in Fantasy Labs, a sports analytics platform. It’s designed to help fantasy sports users build better teams.
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