DraftKings, FanDuel Jettison Merger Plans, Back Away From FTC Challenge

DraftKings, FanDuel Jettison Merger Plans, Back Away From FTC Challenge

Joint rulers of the daily fantasy activities (DFS) market DraftKings and FanDuel have actually walked away from a proposed merger of equals, less than a month following the Federal Trade Commission (FTC) moved to block the offer on grounds of antitrust ‘fair competition’ issues.

The offer’s off: DraftKing’s Jason Robins (left) and FanDuel’s Nigel Eccles announced on Thursday that their organizations would be going it alone, calling down a prospective FTC fight in the grounds of antitrust violations. (Image: Reuters)

The two companies announced the termination of the tie-up on Thursday, just days after they’d each filed legal briefs to a federal district court, vigorously defending the merger.

But with both companies already fighting legal actions on several fronts, it appeared to be another expensive and perhaps condemned battle that is legal ahead. A source told ESPN that accepting the FTC would likely cost some $12 to $15 million.

Money Worries

Ironically, consolidation might have dramatically cut the amount of legal and lobbying costs the two businesses invest fighting for legal DFS in states across the united states. It might additionally eliminate the costs associated with trying to out-market the other person.

The failure of the deal leaves both in precarious positions that are financial as neither has ever been profitable. Papers related to the merger leaked final month revealed that DraftKings Continue lendo “DraftKings, FanDuel Jettison Merger Plans, Back Away From FTC Challenge”

Casino News: The Buffalo Bills will be the latest NFL team to get casino sponsor

Casino News: The Buffalo Bills will be the latest NFL team to get casino sponsor

This week’s casino news starts with revenue numbers from the continuing state of Maryland. Gambling is alive and well into the Old Line State as they just produced their month that is fourth-best ever.

Maryland Casinos Enter One Of Their Finest Months Ever In August

The casino industry into the Terrapin state is completely thriving. The report that is latest suggests that Maryland casinos delivered record figures in the thirty days of August.

This week, income numbers were released and Maryland’s casinos registered its fourth-best monthly gaming revenue numbers ever. Based on a report that is recent their state’s six casinos reported their gaming revenue numbers at $154.3 million for the thirty days of August, which will be up 5.4% from that time last year. The other five casinos absolutely thrived including the MGM National Harbor, which accounted for a ridiculous 40% of the state’s total gaming revenue numbers while Baltimore’s Horseshoe Casino struggled to catch onto the trend. In fact, the MGM National Harbor took in a total of $62.4 million, which is a rise of 7% from the same time frame this past year.

The second-largest casino in Maryland, the Live! Casino & Hotel pulled in just over $53 million in gaming revenues. That number represents a 12.7% increase from the same time a year ago.

With regards to how hawaii is spending their gains, $63.3 million regarding the total gaming revenue g Continue lendo “Casino News: The Buffalo Bills will be the latest NFL team to get casino sponsor”