Nigel Eccles is the co-founder of daily fantasy sports (DFS) giant FanDuel, but didn't receive a single penny when the company was sold to Paddy Power earlier this year. FanDuel's $465 million valuation didn't, according to Eccles, take into account the possibility of legal sports betting in America and that resulted in a lower value…
Back when FanDuel and Draft Kings were fighting for their lives in practically every US State, lawyers for the two daily fantasy sports (DFS) giants used to bellow from the highest mountain top that they were not gambling companies. But ever since the US Supreme Court put the decision to allow regulated sports betting in…
Paddy Power Betfair and FanDuel are merging their US operations, creating a US-facing gaming entity with a focus on sports betting. It's the first major UK/US gaming merger to emerge from the US Supreme Court's recent decision to leave the future of American sports betting in the hands of American States. Details of the deal…
FanDuel co-founder and former CEO Nigel Eccles; and co-founder Rob Jones are leaving the world of daily fantasy sports for an esports streaming startup called Flick. Jones and Eccles are the last of FanDuel's original five co-founders to leave the company. Jones' departure from the daily fantasy sports giant came as something of a surprise…
FanDuel CEO Nigel Eccles is leaving the company almost eight years after he helped to found it and put daily fantasy sports on the worldwide gaming radar. Eccles' exit comes at a time when the controversial company is both mired in legal battles and, according their own reports, is nearing its first profitable quarter. Word…
Lawmakers in Ohio are considering a bill that would legalize daily fantasy sports for Buckeye State residents (many of whom are already playing them). If passed, the proposed measure would provide a big win for DraftKings and FanDuel, as well as the daily fantasy sports business at large. Cracking the football-crazy Ohio market would be…
DraftKings and FanDuel have struck a deal with the Massachusetts Attorney General that will allow them to operate in the state, despite claims that they've engaged in unfair consumer practices. As part of the arrangement, each company will pay out a $1.3 million fine and accept certain changes to their business practices in the state.…
FanDuel is shutting down its UK-facing operation as it prepares to fight for its life in the chaotic US daily fantasy sports market. The move is a good indication of how desperate the situation is at the company, now that its dreams of merging with rival DraftKings have been put on ice by US regulators.…
The proposed merger between daily fantasy sports giants, FanDuel and DraftKings has been called off. Company officials called off the deal late Thursday but questions about the fate of both companies will be lingering for the foreseeable future. Joining the two biggest names in the daily fantasy sports world seemed like a plausible, even a…
Everyone knows that FanDuel and DraftKings are the biggest names in the daily fantasy sports business. But there's something else that investors looking to finance the companies are told on a regular basis...both companies are losing piles of cash every quarter. Word of the cash hemorrhaging from the companies came in the form of a…
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