Fantasy sports companies DraftKings and FanDuel are merging

Posted at 9:46 AM, Nov 18, 2016
and last updated 2016-11-18 12:09:59-05

Fantasy sports companies “DraftKings” and “FanDuel” are merging.

This comes months after both companies reached an agreement with the New York Attorney General to stop running paid contests in the state.

The AG argued  the contests were based on chance and were illegal under state law.

But both companies maintain their contests require skill and are not considered gambling.

So what does this change mean to users? DraftKings said in a statement:

For the foreseeable future, FanDuel and DraftKings will continue to operate under their respective brand names. Once approved, we envision this merger will create a stronger, more sustainable entity that can focus on growth, product development, delivering enhanced user experiences and creating an overall stronger fantasy sports community.

Click here to see complete details on the merger.