Gaming - Merger talks between DraftKings and FanDuel terminated

Davy Research
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News that the two largest daily fantasy sports operators have decided to terminate merger talks will not come as much of a surprise in light of the recent Federal Trade Commission (FTC) announcement that it would block such a deal. The question now is whether both operators can survive as standalone entities or whether they will effectively put themselves up for sale. Should both survive, competitive intensity in the market will be greater than had the merged entity had 90%+ share of the market.