FanDuel, DraftKings announce termination of merger
14 July 2017
(PRESS RELEASE) -- The following is a statement from FanDuel CEO Nigel Eccles:
"FanDuel decided to merge with DraftKings last November, 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. We’d like to thank our partners and customers for their patience, support and continued loyalty over the past several months."