Draftkings chief executive Jason Robins is set to take on the same role at the daily fantasy sports (DFS) giant created by his company's proposed merger with FanDuel.
iGamingBusiness reported yesterday (Monday) that a deal between the two companies is “imminent” and could be sealed early next week.
Robins is set to lead the combined entity, according to a report by several major news outlets, with FanDuel co-founder and chief executive Nigel Eccles to be appointed chairman of the board. The Bloomberg news agency said the company will draw members evenly from both companies.
While talks on a merger have been taking place covertly for some time, the question of who would lead the company has been a sticking point, with Robins, Eccles and an outsider all considered. Bloomberg said that it is not known why Robins rather than Eccles is likely to become CEO.
It is believed that negotiations, which began back in January, have accelerated since the two companies settled false advertising lawsuits in New York earlier this month.
A merger has been pushed for some time by industry analysts who have been concerned about the huge amounts that the two companies – which control around 90% of the North American market – spend on advertising in an attempt to achieve primacy. The Wall Street Journal reports that DraftKings and FanDuel spent upward of $500 million (€456.0 million) on advertising last year alone.
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