DraftKings earnings report reveals subpoena and audit bombshells

DraftKings' Q2 earnings included the bombshell news that the sports betting operator is being audited by the Internal Revenue Service (IRS) and was subpoenaed by the Securities and Exchange Commission (SEC) regarding activities undertaken by its recent SBTech acquisition. Both cases have the potential to cause major headaches for DraftKings, though company officials deny engaging…

DraftKings partners with three more NBA teams

Remember back at the height of the daily fantasy sports blitz in the United States when you couldn't go two minutes without running into a DraftKings or FanDuel advertisement? And do you also remember how both those companies swore up and and down that they weren't sports betting companies and were just simple operators of…

Maltese gambling authorities throw down on DFS operator

Small countries like Malta that collect big money from gambling licenses are sometimes viewed as being less stringent in their enforcement of gaming law than their larger counterparts. The recent case of Maltese-license daily fantasy sports operator, the Daily Fantasy Football Company (DFFC) proves that the Maltese Gaming Authority (MGA) is every bit as tight…

FanDuel Founder Sues Company in Valuation Spat

Nigel Eccles is the co-founder of daily fantasy sports (DFS) giant FanDuel, but didn't receive a single penny when the company was sold to Paddy Power earlier this year. FanDuel's $465 million valuation didn't, according to Eccles, take into account the possibility of legal sports betting in America and that resulted in a lower value…

Daily Fantasy Sports Pass 'Game of Skill' Test in Academic Study

Are daily fantasy sports (DFSS) contests games of skill, or games of chance? That's a multi-million, possibly multi-billion, dollar question that's kept the DFS market spinning its wheels in a number of countries. Fortunately, for DFS operators, a recent study by researchers at Kansas State University found that DFS is definitely a game of skill…

DraftKings Ready to Bring Daily Fantasy Sports to the Australian Market

Daily fantasy sports (DFS) giant DraftKings has received approval to expand its operations into the northern part of Australia. It's a big move for the operator that opens its services to millions of new customers. News of DraftKings' move broke earlier this week when the operator received approval from the Northern Territory Racing Commission to…

DraftKings Bucks Downward Trend with New HQ and New Hires

Daily fantasy sports giant DraftKings is bucking months of bad news about spiraling revenues and corporate layoffs with by moving into a shiny new corporate headquarters and hiring hundreds of new employees. The move is part of a larger effort to expand the company's media production capabilities and, maybe, expand into the world of regulated…

FanDuel CEO and Co-Founder Moving on to Greener Pastures

FanDuel CEO Nigel Eccles is leaving the company almost eight years after he helped to found it and put daily fantasy sports on the worldwide gaming radar. Eccles' exit comes at a time when the controversial company is both mired in legal battles and, according their own reports, is nearing its first profitable quarter. Word…

Auditor's Alarming Find: FanDuel Hemorrhaging Cash

Auditors looking at the financials of daily fantasy sports operator FanDuel are finding that the company is losing money at an alarming rate. Their findings are just the latest in a string of bad news reports that have dogged the once high flying sports operator. According to published reports on insider.co.uk and CalvinAyre.com, auditors from…

DraftKings Expanding to Irish and Australian Markets

DraftKings is planning a major expansion of its international markets to include operations in both Ireland and Australia, according to a report on Legal Sports Report. This marks the company’s first big push into foreign markets since its proposed merger with rival FanDuel collapsed earlier this year. Company officials pointed to the large numbers of…