2020_15_betradar.png
2020_15_betradar.png
2020_15_betradar.png
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2020 AffiliateCon
NEWS 20 June 2017

US Federal Trade Commission seeks to block FanDuel-DraftKings merger

By Tom Lewis
Daily fantasy sports (DFS) titans FanDuel and DraftKings have seen their planned merger dealt a significant blow as the US Federal Trade Commission (FTC) filed suit to halt the deal.

The FTC, along with the attorneys general of California and the District of Columbia, will file a complaint in federal district court, moving to block the deal based on anti-trust concerns.

With a full administrative trial scheduled to begin on November 21, the FTC has sought a preliminary injunction to prevent the firms from tying the knot.

FTC officials stated that the tie up would take 90% of the DFS business under one organisation, with Tad Lipsky, acting director of the FTC’s Bureau of Competition, stating: “The proposed merger would deprive customers of the substantial benefits of direct competition between DraftKings and FanDuel.

“The FTC is committed to the preservation of competitive markets, which offer consumers the best opportunity to obtain innovative products and services at the most favourable prices and terms consistent with the provision of competitive returns to efficient producers.”

DraftKings CEO Jason Robins issued a joint statement with his FanDuel counterpart, Nigel Eccles, registering their disappointment at the development: “We are disappointed by this decision and continue to believe that a merger is in the best interests of our players, our companies, our employees and the fantasy sports industry.”

RELATED TAGS: Legal & Regulatory | Mergers & Acquisitions
NEWS SPONSOR
2020_15_connectpay.jpg


2020_7_iovation.gif
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
MUST READ
IN-DEPTH 2 April 2020
Pragmatic Play Head of Account Management: Adaptability is crucial during uncertain times
READ MORE
PREMIUM CONNECTIONS
Systems and Software
Efbet
VIEW PROFILE
Affiliate
1xPartners
VIEW PROFILE
Systems and Software
Newgioco Group
VIEW PROFILE
Legal and Jurisdictions
Digital Isle of Man
VIEW PROFILE
PR and Marketing
ActiveWins
VIEW PROFILE
Industry Awards
Global Gaming Awards
VIEW PROFILE
Systems and Software
BetConstruct
VIEW PROFILE
Services
Exefeed
VIEW PROFILE
Systems and Software
Finnplay
VIEW PROFILE
Systems and Software
NSoft
VIEW PROFILE
Payments
Zimpler
VIEW PROFILE
Systems and Software
BBIN
VIEW PROFILE