FanDuel's Nigel Eccles Addresses The Future Of DFS, Working With DraftKings, Ad Efforts
FanDuel CEO Nigel Eccles said the daily fantasy sports industry is now "very healthy" with his firm and DraftKings working more closely on lobbying and grassroots activities, according to Daniel Roberts of YAHOO FINANCE. Eccles in a Q&A "addressed merger rumors, marketing, and why so many people hate these companies." Regarding the state of New York's recent decision to legalize and regulate DFS, he said, "This industry will become regulated, needs to become regulated. ... When this bill is signed, that gets us to nine states that have regulations. I’m very comfortable that in the next two to three years we get to 40 states." Eccles said of the rumors circulating about a FanDuel-DraftKings merger, "We’re very similar companies, in the same space. There will be those rumors. I think also in the last 12 months we’ve moved from focusing all on growth and competing head on to now working together. ... So I wonder if these rumors are coming up again just because people see we are getting closer to them and that the companies are working closer." On where the DFS industry goes next, Eccles said, "With more regulatory certainty, people will be more willing to come into the market. ... DFS is only around six years old, so it wouldn’t surprise me if in the next few years we see new variants and new forms." After a marketing blitz for both major DFS firms last fall, Eccles said of what can be expected going forward, "There will be a very big shift there. Last year was really about gaining awareness. And we did amazingly well at gaining awareness. What we didn’t do as good a job with was selling the product. ... So this year, we want to bring more fun into it" (FINANCE.YAHOO.com, 6/29).