A new joint venture has formed to acquire daily fantasy sports operator DraftDay and remodel it as a B2B platform in addition to a B2C site.

In June, MGT Capital Investments announced it had sold DraftDay to a new entity called Random Outcome USA Inc. for $7m, while day-to-day operations would be managed by UK pools betting operator Sportech.

On Wednesday, it was announced that Sportech was teaming with “entertainment marketing and rewards platform” Viggle Inc. to form DraftDay Gaming Group, which would purchase and operate DraftDay for nil consideration, in exchange for providing executive management and a potential customer network.

Viggle will hold the biggest stake (44%) of DraftDay, while Sportech PLC’s Sportech Inc subsidiary will control 35%, with the balance held by MGT Capital and other shareholders. As previously stipulated, Sportech will be responsible for managing DraftDay’s day-to-day operations and Sportech’s digital president Rich Roberts will serve as DraftDay CEO, while Robert Sillerman will act as chairman.