The Federal Trade Commission just announced they will authorize legal action to block the merger of DraftKings and FanDuel, the two largest daily fantasy sports sites in the U.S.
The FTC noted that they will jointly file a complaint with the Attorneys General in California and the District of Colombia, seeking a preliminary injection to stop the deal.
In a release, the FTC explained that the combined company would “control more than 90 percent of the U.S. market for paid daily fantasy sports contests.”
In a statement, DraftKings CEO Jason Robins and FanDuel CEO Nigel Eccles said:
We are disappointed by this decision and continue to believe that a merger is in the best interests of our players, our companies, our employees and the fantasy sports industry. We are considering all our options at this time.
As we work together to determine our next steps, we would like to thank DraftKings and FanDuel players, partners and employees for their patience, support and continued loyalty.
Developing, check back soon for more information