The daily fantasy sports companies, backed by several media groups, professional sports leagues and teams, are set to merge.
US-based, corporate-backed daily fantasy sports platforms DraftKings and FanDuel have confirmed that they will join forces in what they referred to as a “merger of equals,” meaning there will be one dominant player in the sector.
The deal will follow a tight-knot rivalry that involved both companies raising nine-figure rounds at billion-dollar plus valuations, before regulatory hurdles hit them hard, in effect requiring them to pool their resources.
DraftKings and FanDuel are the two largest participants in the daily fantasy…
