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Daily Fantasy Sports

FanDuel and DraftKings seeks further business options for their operations in the US market

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7 years ago

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After months of speculation, an official announcement on Friday confirmed rumors that the FanDuel and DraftKings are joining forces. Photo credits: elitesportsny
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FanDuel, the web-based fantasy sports game, and the second largest daily fantasy sports company and DraftKings,  the daily fantasy sports contest provider are seeking further business options for their operations in the US market.

With the Supreme Court finally revoking the Professional and Amateur Sports Protection Act (PASPA) of 1992 promptly and straightening the path for sports betting legalisation, a sea change can be brought to the US gambling landscape.

However, the USA’s top daily fantasy sports (DFS) operators, FanDuel and DraftKings, are unwilling to wait and are assessing business options.

As per the reports of news website Axios, FanDuel is excogitating  a potential reverse merger with special investment company Platinum Eagle Acquisition Corp. . Though, all talks between companies regarding future financing through private investment have been unsuccessful.

Meanwhile, DraftKings is looking into further options outside the DFS segment and has moved to extend its sports-based services like live streaming of games and match day ticketing through strategic partnerships. Furthermore, as it awaits the ruling on PASPA – and after hiring Sean Hurley as Head of Sportsbook – the company has already advanced its intentions to obtain a sports betting license.

As DraftKings CEO and Co-founder, Jason Robins said that his firm would be ready to engage the US betting market should SCOTUS ruling allow it, the company expects to become competitive in a segment ruled by international operators like William Hill, Betfair and other US giants.

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