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Posts Tagged ‘FanDuel’

FanDuel Co-Founder Nigel Eccles Leaves Company

Nigel Eccles, co-founder and CEO of daily fantasy sports (DFS) giant FanDuel, announced that Monday was his last day at the company. Matt King, the CFO of FanDuel from 2014-2016 will step into Eccles’ vacated role. Between his previous stint at FanDuel and now, King was equity partner and President of Regional Operations and Corporate Development at ‎Cottingham & Butler. “Excited but a little bit sad to be leaving @fanduel today,” Eccles tweeted. “It has been an amazing 8 years. Really excited to see how Matt King and the team drive the company in 2018 and beyond. For me I’m building something awesome in eSports. Watch this space.” Though DraftKings is the DFS market leader, it really was Eccles’ FanDuel that launched industry. Traditional, season-long fantasy sports have been popular for multiple decades now, but DFS has really only been a thing for less than ten years. It was born

DraftKings, FanDuel to Merge

We all knew it was coming, but on Friday morning, DraftKings and FanDuel announced that they have agreed to a merger, a deal which will create a company that will have a virtual monopoly on the daily fantasy sports industry. Per the press release, DraftKings CEO Jason Robbins will be the new company’s Chief Executive and FanDuel CEO Nigel Eccles will be the Chairman of the Board. The Board of Directors will consist of three people from each of DraftKings and FanDuel with one independent director. No financial terms have been released, but ESPN.com’s David Purdum reported that sources close to negotiations have indicated that the merger will likely be 50/50. The companies cite “operational efficiencies and cost savings” as benefits of the merger, as well as the ability to allow for a “greater focus on developing new products and features, including more variety in contest formats, loyalty programs, enhanced

FanDuel, Yahoo Launch DFS Contests in Season-Long Wrappers

Following DraftKings’ launch of a new daily/season-long hybrid game, rivals FanDuel and Yahoo! have introduced their own versions of DFS with a season-long flavor. FanDuel’s is called “Friends Mode” while Yahoo’s is the “Yahoo Cup.” We’ll start with FanDuel’s Friends Mode, as it most closely mirror’s DraftKing’s Leagues. Really, it is just about the same thing, which isn’t surprising since the two largest DFS sites tend to do pretty much everything in lock-step. In fact, there is a good chance that FanDuel would have called it Leagues if DraftKings hadn’t done it first. In Friends Mode, anyone can create a private league and then invite friends (whether or not those friends are already on FanDuel) to join, similar to how one would get a league together in season-long fantasy. The contests, though, are week-to-week (or day to day, if we’re not talking football, but who are we kidding – we

DraftKings, FanDuel to End College Sports DFS Contests

This weekend marks the end of the college basketball season and with it, the end of college sports contests on daily fantasy sports (DFS) sites DraftKings and FanDuel. The two DFS leaders announced Thursday that after Monday’s championship game of the men’s NCAA basketball tournament, they will cease offering contests on college sports. Gambling on college sports, while extremely prevalent, has always been more controversial than gambling in professional sports. And since many (most?) people consider DFS gambling, DFS games based on college sports have been a sticky issue. According to ESPN.com, though, the decision to stop college sports contests shouldn’t hurt the daily fantasy sports sites. College basketball and football combined make up only 3 percent of FanDuel’s revenue. As ESPN.com put it, “the NFL daily fantasy market is 10 to 20 times larger than the college football market.” In a statement posted on its website, FanDuel said of

DraftKings, FanDuel Reach Settlement with NY AG, Will Cease Operations in NY

On Monday, DraftKings, FanDuel, and the New York State Office of the Attorney General announced that they have reached a settlement in the legal battle over daily fantasy sports (DFS) in the Empire State. In exchange for the two DFS leaders withdrawing from the New York market until at least September, NY AG Eric Scheiderman has agreed to drop most of the charges against the two companies. The reason September is key for DraftKings and FanDuel is because their appeal regarding the legality of DFS is scheduled to be heard that month. If the Court rules that DFS is, in fact, legal in the state, then one would assume that DraftKings and FanDuel could get right back to offering real money contests. In the meantime, there are DFS bills circulating in the state legislature. According to the terms of the settlement, if one or more of the bills pass by