The merger of FanDuel and DraftKings, which offer daily, weekly and season-long sports fantasy contests, will bring together two fantasy sports innovators to better serve consumers.

In all, nine states have passed legislation legalizing fantasy sports, while levying licensing fees and taxes on the gaming companies. For example, both DraftKings and FanDuel were forced to suspend their paid fantasy-sports contests in New York earlier this year after a cease-and-desist order by the state’s attorney general subsequently, the New York legislature passed a bill in September that legalizes daily fantasy-sports. But the companies have faced regulatory restrictions in numerous states. DraftKings and FanDuel, which both have about 320 employees, didn’t say what the merged company will be named.ĭraftKings and FanDuel insist that their contests do not represent gambling activity. The new company will be co-headquartered in New York and Boston.

In addition, the board will be composed of three directors from DraftKings, three directors from FanDuel and one independent director.

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.”Īt closing, Robins will become CEO of the newly combined company and Eccles will become chairman of the board.

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