Daily fantasy sport companies DraftKings and FanDuel are at the final yard lines for a merger, Bloomberg reported Monday.
DraftKings cofounder Jason Robins will reportedly take over as CEO and FanDuel cofounder Nigel Eccles will serve as chairman of the board, Bloomberg reported citing anonymous sources familiar with the matter.
The merger has been speculated for months and championed by investors given the company’s similar business strategies and regulatory issues.
Just last week, the companies reached a settlement over lawsuits in New York that alleged their advertisements intentionally misled consumers. Each company had to pay $6 million in penalties and costs. Read more…