Fantasy sports firms fold as legislative battle resumes
By Associated Press
BOSTON — The daily fantasy sports industry sharply contracted since the online games offered by companies like FanDuel and DraftKings sparked court and legislative battles across the United States last year.
More than two-thirds of companies that existed this time last year have shuttered, changed focus or joined with competitors, according to the Fantasy Sports Trade Association, the industry’s lobbying arm.
Among the most prominent examples is the proposed merger between the industry’s two largest companies — Boston’s DraftKings and New York’s FanDuel. That deal, which was announced late last year, is currently being reviewed by the Federal Trade Commission.