Daily fantasy sports (DFS) giants DraftKings and FanDuel have asked the Federal Trade Commission (FTC) to allow the two firms to merge, saying that it is the best interest of the fantasy sports industry.
DraftKings and FanDuel have submitted their respective responses before the Commission this week denying that the proposed merger would deprive customers of the substantial benefits of direct competition.
DraftKings remains to be the largest DFS operatory in the US despite incurring operating losses of half a billion dollars. FanDuel attested to this fact in its 23-page reply to the FTC.
Both DFS operators agree that their merger is procompetitive since it “will result in substantial merger-specific efficiencies, cost-savings, innovation, and other procompetitive effects that will directly increase the consumer value proposition.”