Today it was announced by both parties that the FanDuel and DraftKings merger has fallen through.
Both FanDuel and DraftKings emailed their users today to inform them of the decision and shed some light on the future direction of the companies.
See below for both statements.
Today we formally terminated our merger with FanDuel and will withdraw litigation from the Federal Trade Commission (FTC). This means we will move forward as a separate company, which we believe is the best course in the interest of you – our customers and avid sports fans.
We want to reassure you that you will not notice any changes to your account or your experience with us as a result of this decision. We will continue to offer best-in-class contests, prizes, and offerings to our players. We will continue to focus our resources and expertise on enhancing our products and features so we can deliver the exceptional sports entertainment experience you have always had and love with DraftKings.
DraftKings remains the preeminent platform in the daily fantasy sports industry. As a result, we are well-positioned to serve as a global hub linking fans to the sports, teams, players and game content they love.
This is an exciting time to be a sports fan and daily fantasy player. As we gear up for another successful NFL season, we will continue to put you – the sports fan – at the center of everything we do. We are excited to make this football season the best one yet with new products, innovative features, and exciting contests ready to be rolled out soon.
If you have any further questions about this announcement, please visit our dedicated frequently asked questions section on the DraftKings website.
Thank you for your continued loyalty throughout this process. We have the best fans in the world and could not have done any of this without you.
Jason Robins, Matt Kalish, Paul Liberman
Dear FanDuel User,
We have some news to share with you. As you know, we announced last November our intent to merge with DraftKings. We decided to merge because we believed that this deal would have increased investment in growth and product development thereby benefiting consumers and the greater sports entertainment industry.
While our opinion has not changed, we have determined that it is in the best interest of our shareholders, customers, employees, and partners to terminate the merger agreement and move forward as an independent company. There is still enormous, untapped market opportunity for FanDuel, and we will continue to execute our strategy to grow our business and further expand the fantasy sports industry.
As such, there will be no changes to your experience on FanDuel. We look forward to bringing you more fantasy formats, games and offerings in the near future, as we’ve done with Golf and WNBA in the last few months. We’ve already posted a $250K Golden Eagle for the British Open and, to welcome you back from the All-Star Break, we have a $25K Free Play with your name on it.
We’d like to thank you for your support and continued loyalty over the past several months.