Embattled fantasy outposts DraftKings and FanDuel have announced their intention to merge after a year in which the two companies have seen their footprint in the fantasy sports world greatly diminish due to regulators accusing them of running gambling operations. No shit…
Via Variety:
“We have always been passionate about providing the best possible experience for our customers and this merger will help advance our goal of building a transformational global sports entertainment platform,” DraftKings CEO Jason Robins said in a statement. “Joining forces will allow us to truly realize the potential of our vision, and as a combined company we will be able to accelerate the pace of innovation and bring a richer experience to our customers than we ever could have done separately.”
Added FanDuel CEO Nigel Eccles, “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.”
Robbins will apparently become the CEO of the combined company while Eccles will serve as Chairman of the Board.
With an expected close in the merger coming in 2017 this no doubt makes sense for both companies who instead of competing against each other can now focus on the regulars.
I have to say however it has been nice not having their damn commercials shoved down my throat as of late.