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DRAFTKINGS AND FANDUEL IN MERGER TALKS?
DRAFTKINGS AND FANDUEL IN MERGER TALKS?
Respected business publication says two daily fantasy sports leviathans have common interests.
The respected business publications Bloomberg and Wall Street Journal have reported that daily fantasy sports billion-dollar behemoths FanDuel and DraftKings are engaged in merger talks.
Apparently investors have been lobbying management for such a merger for some months, arguing that both companies have similar challenges - especially in the United States - and almost identical businesses that could benefit from such a move.
However, legal experts have warned that a merger could fall foul of the strict anti-trust laws in the States.
No final transaction has been agreed, and the deal may still fall apart, Bloombergs sources said.
Representatives for the two companies declined to comment when approached by Bloomberg.
Investors in DraftKings include Madison Square Garden Co., and the Kraft Group, which owns the New England Patriots. FanDuel is backed by KKR & Co. and Time Warner Inc., among others.
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Gambling News :
South Africa Going After Illegal Gambling -
In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.
Global Poker League Championship Results -
#gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.
Yahoo DFS Gets Uk License -
#yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.
SPANISH GAMBLING MARKET CONTINUES TO GROW -
Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.
Novomatic Acquires Albanian National Lottery -
#Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.
2016 Massachusetts Gaming Commission Report -
Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.
Jack Lam denies bribe allegations -
Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.
Fonbet Gets Russian Betting License -
#Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.
New Attempts to Restore the Wire act -
In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.
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